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