New-York tribune., 1920-11-28
Coolidge Opens
Duel of Checks
To Aid Amherst
Importance of College to
Peace of Nation Empha-
sized in Address at
Alumni Dinner Here
Boston Grads Challenged
Vice President Elect Calls
for Contributions to Fund
Over Long-Distance Phone

The Alumni Association Of Amherst
held its annual dinner last night at
re Hotel Pennsylvania. Similar din
ners were held in twenty-four other
cjties, and at each of the twenty-five
the plan fcl raising S3,o0o,Ooo CEN
ternial fund for Amherst was launched.
Calvin Coolidge, Vice-President
eject, one Of the speakers at the dim
rsr in this city, received telephone
instrument from waiter early in the
evening. A plug was inserted in
connection in tho wall near the speak
e-s' table ID Mr.. Coolidge talked with
Dwight Morrow, who was presiding at
.he Amhers. dinner in Boston.
Duel of CheckbooEs
"We're going to challenge you in
Boston to duel" said the Governor Of
Massachusetts, in measured tones. THE
seapons are going to be checkbooks-
yes. checkbcoks," he repeated, the Nor
gan partner to whom he spoke evident
II having failed to hear the word;
sdidnt you ever hear of checkbooKs ?
ave want ycu to rise and draw, and
we'll see who can draw the longest
Governor Coolidge announced
roment later the reply he received TO
b,s challer Se. Mr.. Morrow told him,
ne said, that Boston was ali right ana
if New York did as we'll IN the con-
test the s3,o00,000 was as good as
raised. ~
.rnor Coolidge emphasized the I'M
nortauce nlrta Of the college to the peace
~ the nation 1t was no wonder ne
ss;d when American colleges and uni
rarsities we're thronged as they now
xere that America, almost alone among
Tho nations of the world, had no lear
of enemies, internal or external.
Progress Based on Ideals
.procress~ said Governor Coolidge,
Hnas laid in the cultivation ana NAM
tenance OF state of mlnd. IL mas
bsen in general q strong adherence to
;Sssls The ideal around which the
monetbe;sm' anr,et, m The idesTof Greece was
ssautv. That of Rome was glory. The
strength Of the British Empire has
Sesn in a sense of obligation. To the
French it has been personlhcaton
~ their country. The strongest SEN
tjment of America has been for that
! independence which is the basis OF
,elf.governm These are but the
main features. There clustered about
them many other ideals, which in all
instances lent strength to the char
,cter of the people of each nation. 1t
was only when the people fell away
from their adherence to their ideals
that the dsintegration began which
ended in the final downfall Of the ma
tons of antiquity. 1t has but lately
been demonstrated to the fullest ex-
tent that the self-governing peoples Of
the modern world are strong and Wig
orous, still true to their traditions,
still loyal to their ideals. Such con-
dition has always indicated sound
foundation in the past and must be
at is not only by technical skill
that modern civilization is sustained.
| It depends to large degree on accu-
mulated and invested capital, and for
its advance will depend more and
4 more on accumulation and investment
| Of capital. Civilization and profits go
| hand in hand. 1t is out of the surplus
Of our efforts that progress is made.
! It is only necessary to remember the
| method Of conducting all industry,
transportation, banking, mining and
commerce and to observe that they not
only need constant renewal but ever
increasing facilities with which to
meet enlarged demands, to determine
that what we call capital is the chief
material minister to the general well
fare Of all mankind
Capital Is Result Of Brains
/, Invested capital is the result of
brains. All the elements that are as
sembled in Corliss engine, a modern
printing press, or an aeroplane have
ain In the earth throughout all the
AGES. For countless generations there
las been sufficient human labor to as
ssmble them, yet they did not appear
iney came into being only when called
by the skill and brains of men.
/ Truly capital, surplus, profits and
I progress are tho result Of brains. In
iact, that which we call labor is in
4 Hiigent effort directed toward some
esslIsd essl1 end Otherwise such result
4 gould we'll be secured from q machine
I IN ite last analysis what the work
nan CELLS is his intelligence. But i,
- ssill true that the management anc
} direction Of which surplus and profits
are born is a rarer skill, yet more
acute intelligence, which in general we
A eeslgnate az brain. 1t is on the con-
4 "nted existence of this power in man
4 snich is the result Of effort and train
lng, that not only the advance but the
aaincnance Of our present standards
4 There are evil forces at work now
!hey are apparently organized anc
rex the disintegration Of society. The,
an almost always be recognized by q
a'fsct appeal to selfishnesB and nothing
z sse They deny that the present re.
a3onship OF men 70 each other which
4 ,tsH b. reason Of organized society
4 as any sound basis for is existence
4 Hsy point out 20 men with unframed
slncs that i takes effort 10 rnaintaiy
MsmAeives and support government
1sd claim that they ought TO exis'
j sNnouf effort on the accumulation ot