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A FINAL ARGUMENT FOR THE NECES SITY OF A PHILOSOPHICAL BASIS FOR economics r. (Continued From.Paae One) came the discovery of germs as causes of diseas which truth, however, would have been worUii- s to medicine if it had not been known■ that™* blood circulates. Following, and each depending upon the others, badteto the discovery of the cir culation of the, bloodfcame the other-great medi cal discoveries, which all together have 0 the astounding modern, medical science. You cannot conceive «f a science ef medicm without the knowledge of the circulation. of the blood.. Just look at the veins in your wrist, feel the pulse, stop the flow by pressure and wonder how so apparently an abvious fact escaped the scientists and philosophers of the ages, or even the ordinary ctedjhapjftef^ ikwft forget the ieo» of animats, slain, a»d even, men flayed aUve. Truly such Minctoessis an all-convincing evidence of the- lack of deductive ability of the human race. No wonder the fundamental truth® of poor Economics, which has come through the same milleniums with Astronomy and Medicine and nearly 500 years more without a single stone of the foundation of itself as a real science being laiA Ec under the noses, of scholars, statesmen, and business men utterly unnoticed. How ORwr SMmms “Growod Up* Chemistry, or its parent alchemy, had its be ginnings in those same primeval days in which Astronomy, MecEcvne, and Economics began their puny existence. It went through the same Patsy process for millenniums, till just the other day, 180$, when John Dalton conceived and for mulated the- atomic theory. Like the tFees planted by the rivCrs of water the revitalized science has grown till ns branches extend over every indus try of the earth. Elec tricot science found its redeemer in Frank lin. No need to suggest its development since that first foundation stone was laid. Merely thmk of Morse, of Bell, of Edison, Roentgen, Crookes— what more is needed? Skwww B«3t Outright Upon Foundation Truths Thus far 1 have used ancient sciences and pbXl osophiea reborn through, the discovery of funda mental truths to emphasize the necessity of had ing and applying similar economic truth. Now I turn to further illustrate the importance,, the MH*-q<M-non* of such economic truths by the cita tion of the development of great modern sciences, with their' superimposed vast commercial struc tures, from a foundation of truth laid before oven any dream of the vastness of the super structure existed. Poor Goodyear labored and hungered for years while experimenting upon his dingy chunks of c.aoutchooc, fi.naj.ly succeeding in his effort to vul canize the substance upon which tens of millions of cars roll every day. Blot from the earth the truth discovered by the martyr Goodyear and de stroy existing products resulting from that truth and the present troublesome problem of highway casualties will be solved for quite a season—till another truth-discoverer arises to repeat Good year s exploit. :*J31ot from the earth the truth discovered by a than who probably didn't live to see an aeroplane fly, and blot out all the other truths developed from his foundations and blot out the hundreds bf thousands of aeroplanes that now traverse the horizons, and not only the Lion of Judah may be assured that no flying devastation will visit his ancient empire, but all other nations may be equally assured that it will be many years before the menace from the air shall again threaten the peace and! safety of the peoples. That man’s name is Langley, and Prof. Langley of the Smith sonian Institute was, or is, the raison d’etre of every aeroplane that wings its way through the azure blue. Yet the great manufacturers, the great aviators, the mail carriers who have driven planes a mil lion miles,, conceive the great plants and the as sembled planes and the flurry and skurry of the aviation fields the beginning and the end of the great aeroplane industry. Probably very few of than know, after absorbing all they can of the Langley and Wright lore, as much as the pioneer Lafigley knew about the principles of aviation. Bear in mind,for analogical comparison, that I said ia m id-1929, before the stock-market crash, that tie admdmstration. and big business knew least of all about what the condition was. in the sum mer of 1929 and of the collapse which threatened, and I say now that the administration and big iwsimesst apparently know nothing yet of the ex istence of fundamental economic truth. What the biggest manufacturer in the world of radios knows THIS TERRIBLE ADMINISTRATION! A Few Sins Listed Its Enemies H.ve Overlong E. M. PETERSON* Washington, D. C. It appears that many political newspapers over look some of the sins of the present administra ttk»; they can only see the ^ ^ consequently harp on them uneeaamgfr wd Jith a partisan, exaggeration that. puts. the. author oi “Tarzan” to shame. Years ago a large eastern lected the writer to introduce a very mmtwous. product to the people of the city of New York An intensive advertising campaign to last only a Week was decided upon, not to exceed in cost $600.00 per day. The manufacturer and the dis tributor were to» divide this expense Thn bntor selected three daily paper* in Ja publicize the opening saled campaign, and minted the selection to the meneifaetam *<* h* approval, whereupon the wwsufcctnwer said, m effect • “If 1 did not know you are practically a stranger in New York, this selection would prove that you are. One of the papers you have selected would be very well for a fifty-cent article; the publisher eaters to and waders are wad* up principally of the lower strata uf society. f want te. use the papers that busmen wen take to the family ;■ it is the women in die better homes we wish to reach, andi while thousand* huy one of the papers you have selected, they ar,e mostly left on the ebevaied and subway trains, being con sidered by many to be unwholesome for the home.” It is these selfsame publication* wax nave into larger numbers till they cover practically the entire country under one general management, that a<ow seem to take deliberate pleasure in overlooking some of the outstandings sins of the present adnunistt ration* some of which sins may fee enumerated, as follows: Siu Oneimmediatefy after his inaugura tion, President Roosevelt catted a hank holiday. Banks alt over the country were? tumbling; hke tenpins.. Depositors were panicky ; the situation waa serious. But for the immediate action of the Presklent and the confidence be inspired in the people, perhaps not one solfont hank cou^hare been found in this country fey May lst* tsC volution and general financial devastation were tn the offing. The "Devil” was sick, then; and Dsvd a saint would fee. The “Devd” is recupei^at ing n,ow, and a devil of a saint is he. 1 Sin Two: The streets and roads were swarm ing with idle, despairing young men; m jobs, 'starvation staring them ha the face fey the thou sands and fast easily becoming susceptible to criminal influences* feeling that government and about wireipss. telegraphy wowhha’t begjn to. match the knowledge possessed by * Marconi befpre a wireless message was ever seat tea. feet. The truth dickered by Marconi is responsible for every wireles9 electric machine in the world. Blot that out and—well, you tell it. When the horn blowers for the new-deal* the sbare-the-wealth. scheme, the Townsend pension {dan, etc.,* etc., do me to. broadcast their vaporings to* the world, they can depend: absolutely upon the calculated arrangements of the radio systems and may be assured that not a hitch will prevent their mouth ings going to all parts of the country. But what a contrast when the gasbags holding the most modem views of Economy come to their task! The new industry built upon the solid foundations of Marconi’s soundly scientific conclusions of thirty years ago is thoroughly reliable. Ask the operators for a result and you get it. The pri meval science of Economics,. which has merely “growed up.” during the ages, is helpless, when asked' for results. Eorty different plans, all base less and without the least reference to a departure from a foundation of truth, fill the press and • the air today. Is there any assurance that any plan will work as all plans work in the scientifi cally established radio field? Not a bit of such assurance l How can there be when every launch ing is haphazard and no two commodores of the Pofteye arks that set forth without compass or rudder to. discover new utopian continents seem to have any notion of sailing ki the same direc tion, even if their rudderless craft would allow it? For years 1 have offered evidence of the exist ence of that body of truth which^will make the plans of the Economist as definite of desired re sults as the axioms of mathematics* the known laws of chemistry and physics, .and of the found ers of the great modem industries, grounded, and rooted-in the b*aina of a half-doaep. men. Here‘I have desnoastrated by analogy the need of the society had failed them; many mothers looking dependency to them for some meager support Then thia terrible administration acted to giVe them employment by the hundreds of thousands {und/er wholesome care ^id influences and a measure of discipline that is making better men of them to such an extent that industry finds them preferable fear employment. And too, the mothers back home receive through them a helping hand WHAT A SHAME! THIS TERRIBLE AD MINISTRATION ! Sin Three: Within a year, the income of the people of- the Unitted States increased FIVE 'RIEddQN DOItUVRS, «vex the income of the previous, year; enough, if applied in whole, to cover the- four t>$feo allotted for public works employment to get some of the millions of people o# of relief, ox the, dole. It is a terrible thing to feed starving people at home; all right to send food abroad to starving humanity, but here: <;The people must support the government; not the gov ernment the people." Silt Four“Foolishly squandering money by the millions." Yes, indeed, the government made bonus into, the many,,many nriffioqs to banks, in surance companies, and railroads in an effort to save established institutions and thereby succor industry. The government helped the banks by providing funds for frozen assets in order to en able banks to help along business. Then the banks helped business like a Setting hen scratches worms. Neither cork-screw ««r crow-bar could persuade a dollar oat of bank, so to speak. Tie government primed the pomp, bat the priming substance was guzzled qh the mafde; banks chok ing with money, industry dying for want of le gitimate accommodations. Pouring in at the top, depending on natural business irrigation to reach the small business man and industry; but horrors! It Just did not irrigate*1 Yes, this terrible administration had to provide funds direct to the people, since the private sour ces were deliberately clogged; people could mot renew the., mortgages, qn homes and f^r -is; these -- hard earned equities would be everfasti- gly wip -ed out.. This.terrible administration actrtlly came to the. rescue, with a, lower rate of interest, to save the homes of hundreds of thousands, and incidentally lowered the established interest rate to* borrowers, and changed the .whole financing system to the point crfr making home ownership v more easily assumed and less hazardous. 0, the crimes perpetuated on the people by this Admia isirationl { (Continued 0m Fn/tn Ttan?) compilation of sack a body of truth. More—i have compiled enough to keep the economic wodd busy several decades in the revolutionizing of tie age-tong practices that compare with true-science as dad the blood-letting, the terrible prescriptions^ and the superstitious practices that antedated Harvey’s epochal discovery with the marvels ot modern Medicine. My task is, done., If noother issue of the State» Voice should ever appear, it has served its PU1> pose. Not in the measure of converts. They are as lacking as. in the case of Thales (That wore doesn’t rhyme with bates} and of Pythagoras , o Copernicus and Galileo,; or of old Noah hiffl&e . But the need of a scientific basis for Economics as a science has. been, in this little paper, emp a sized as never before in all the world’s hi» oiy I can do, no more. This, then, is the hod artlC in, the long ministry to the doctrine of an Econo^ mics, as definite and certain in its plannings a> are the planings of other revamped ancient sci encea and philosophies. If my “Axioms” be "° accepted, it may be 1500 years before a Gai e follows, a Pythagoras. But the latter old Giecia didn’t have to worry long about the non.-accep ance of his great truth. The new generations c0ITla heedlessly along to take up the worries laid (” by their elders. Here goes one of mine, Bene £ortl\ only casual discussions of .economic 1,11 jects will appear in this paper. - - Attention, will be given to the- would-be m ters of the superficial affairs of the state °r<Pa tion. Like the cure for the belly-ache in tbe rise of the medical science,, such, things are somet mg that the ordinary man can appreciate and un e stand. With him it is let logic and truth go hell—they bore him. „ , But thanks to those faithful readers who a (followed me through many discussions \ matter from various angles. If you under* an and see that nothing can be gained by hapha7-a plans* something haa been gained
The State’s Voice (Dunn, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 15, 1935, edition 1
2
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