The Bridgeport evening farmer., 1912-10-30
THE CAUSE OF PANICS

with singular adherence to tradi- lions of its past our esteemed con temporary. The Bridgeport Standard ss in every presidential election harks back to the only panic of recent memory which happened under Dem ocratic auspices.
 Its latest contribution to this liter atare of bluff and stuff is series of headlines cu1led from its own col unns. showing that in 1894 times were hard and work was scarce.
 But times were hard and work was scarce in 1907, which is the panic Roosevelt consequently must have precipitated. if Taft's idea of the mat ter Is worth anything, which it is not.
 Then there is the panic of 1873, which was during Grants term. Grant was a Republican and the panic was Therefore a Republican panic, if the Standards views are sound, which they are not.
 The truth of the matter is, and ev- cry economist knows 1t, that panics are inherent in our system of doing business They do not appear in this country alone, but they are world wide. or, more accurately they are as wide as the industrial system which makes panics common in all civilized
 so far as this wspaPeFeknews. the only civilized community which has had any exemption from panics is New Zealand. and that happy island Is exempt only because it some thirty years ago stopped regarding panics as a result, of the mere disturbance growing out of elections.
 Panies scarcely occur in countries that are pastoral, or semi-civilized. When they do occur they are not called panics, but faxnines, and are occasdoned by a failure of the food supply.
 It has been left for civilization, and a highly developed commercial and industrial system, to present the spec cause they have produced too much tacIe of people going hungry be-
 Most of the great pantcs in this country. in England. in Germany and France have been caused by over production-
 The factories have done so much work they have supplied all their own country, and have not been able inn nneglsateIy to sell their product to ot1l- CT countries.
 It is evident that if the Grapho- phone Company shall make more graphophones than it can sell, it must release workers.
 The discharge of these workers de- creases the market for what they bought, and other workers are dis ek1arg So the circle widens, and at last the panic arrives. The Final push may be given by any little thing. Sometimes it is an election, or stock panic in Wall street But the thing would have come any way.
 Panics, then are primarily due 10 the ignorance of civilization, which has not learned how to make product and get it distributed as fast as it is made
 Therefore we have the spectacle of people going hungry when they have too much. and everybody in the top notch of misery because the ware houses are bursting with the product of mems hands.
 The Pharaoh whom Joseph knew wouldn't have believed that such a situation could exist, except among a revyb sstup pid people. seds bI
 The only panfcs he knew were due 70 the failure of the crops, or to the devastation of his country by an en- smy-
 He would have laughed himself in- 10 an early grave if it had been sug- Eested to him that his people must starve because they had produced too much of everything.
 Fssere-is tlfe= eFeb1ena of civilization
 LET US SOLVE IT.
 How to get something to eat when we have produced more than we have 1sed?
 Let the Standard help to the solu- lion of this great problem, and cease dealing in the ridiculous, and igner-z ant nonsense that it is giving us about