The mirror. (Stillwater, Minn.) 1894-1925, 1908-03-12
wby Wlc Have panicssssfron,
Il Flew Viewpoint.

in rapid succession the great vande-
vile Of early history making is in rapid
setting. Limited time does not per-
NIT US to dwell fully, and as we would
desire to do, on this chapter; chapter
replete with the struggles of an early
people who begin to develop the Gus
tom of barter and trade. This era
extends to about the 5th century A. d.
We now find seamen venturing quite
freely beyond the "pillars of Hercules;"
and cOastwise trade extends around
Africa and even to the eastern coast
of Asia. Another lapse of time.
Centuries pass. The Atlantic Era is
begun, and Norsemen 500 years later
10th century, touch the eastern coast
of our continent; but to Columbus, In
the late years of the 18th century, re-
NAMED the honor of really making
this great continent known to man
and of satisfying students and others
that our world was indeed true
sphere, This great era which began
with the 5th ended with the 10Th CEN
tury.
Today we enter the Pacific Era, the
greatest era of all, an era without end
Today at the threshold of the Goth GEN.
tury the commercial world is confronted
by problems in its great field, undreamed
in earlier periods. Countless millions
of Asiatics are becoming restive. Ed
ucation, which for at least one hun
dred centuries was held in check
among the masses, is becoming pos
session of the many. This awakening
means much. It means great strife in
commercial matters, with frequent
clashes of arms in battles compared
to which Marathon, Waterloo ane
Gettysburg are but military maneuver
ing. So with the incoming of this thu
last era of commercialism-great
changes and perplexities will develop
not the least of which will be an in
ternational standard to replace gold
or as I believe, an entire elimination
of gold as required reserve.
In the Success magazine for Angus
John D. Rockefeller is quoted as say
ing: at seems to me that one of tn
most startling conditions this countr!
must face is the over production o
! gold" And friends it is with thi
thought, one tho by no means new t.
!, me, that ask you to follow me today
; There has been, during all the ages
, especially during the Atlantic, strug
gle for place and prestige, among tn
J nations. Sometimes this struggle ha
been more evident and strenuous tina
! at other times; but strife has neve
, disappeared and never will. Money 9
3 its equivalent has been the basis Q
many q conflict, and with closer con
3 munication between nations the col
: test becomes no less certain and none
8 values can cever be ignored.
ID A score OF reasons have been name
Q by as many writer's as real causes {
}. the October panic. Mr.. Taft, fres
y from his world girdling tour, gave l
i his version, 50 President Roosevelt
9 and in my own opinion one Of Il
: clearest and most lucid of all was res
l. before this circle month ago. Sti
l. the story is not all told. The reason
70 to which refer were good reasons f,
n former psnics, but what was good do
10 trine once, is not sound and compile
ts for our purpose today. Times
is change, and cause that would fit Z
.s Atlantic Era is not a good fit for
j. Pacific Era. Every cause, l read, b
70 been used by writer's in 1857, q,
n and 1893, and are made to do servi
ID for our 1907 fracas. The sentiment
ID spirit, which is present in both op
ID mistic and pessimistic seasons: fes
K doubt, suspicion, envy, is ignored
IS me, as believe it should be, in see
il ing diagnosis.
e. There was in the world at the clio
ar of the 18th century, gold to the val
as of ten thousand million dollars. T
ty 18th century added to this seven hu
or ldred million dollars. The 10th o.
In tury produced. one thousand two hu
is dred million dollars. The short sew
Id years Of the Goth have added two :