The toiler. [volume] (Cleveland, Ohio) 1919-1922, 1921-07-02
BABSON, GOD AND ECONOMICS.

BABSON, GOD AND ECONOMICS.
Roger Babson noted statstcan labor and industrial
dton and problems To his word that of the law and
the prophets He renders confidential advice to large clientele of
business firms thru his reports international economic
dition He also the public into his confidence when he
especially wishes to put He visited Cleveland
last week and spoke before the Kwans convention Here follows
number Of extracts from his speech at that time reported by
the News These worth thinking about for it seldom that
much of truth and get assembled into speech Said
Mr.. Babson:
Europes volume of trade
falling every Europes expenses fixed and the
growing deficit brings bankruptcy and unless the
United States the
Europe country Upon
Euopes ability prosperity will
able times unless Europe
to do business with
Statistics difficulty today
industry the will judges labor and
board directors rather than by the will of God The trouble with American
business is that have temporarily forgotten God.
why railroads being built today that why there
shortage today why unemployment
teaching the old everything from
labor and The truth that prosperity and %
from three faos O natural ) labor and (
that intangible spiritual quality which led the Pilgrims these shores three
hundred which stretched the railroads the praries hundred
and which built factories steamships and other things during the
past decade.
The railroads should either raise lower do something to
would arguing
trial good deal like arguing the winner horse
prosperity
Shortage figures of the quickest
get prosperity the idle moving freight There
100000 freight idle. "a
the railroads would reduce workers reduce and
prices until these 100000 freight filled and moving
Then the railroads could gradually back their
workers back their and along the line
gradually second and from second into high Then the
would be going at full speed without danger
of staling the engine
only spark posper
ty hope spark sowlI
hope of turning point for the better before 1922
Babsons avowed job the saving and pepetuaion capital
ISM Always he breaches the gospel revival of the system How
deeply may sink into the mre the High Priests faith in
its eventual rising remains mistaken
Consider the above paragraphs is generally conceded that
the facts about stated the first two quoted The revival
of torn industry is not saving Europe from bankruptcy
Steadily the deficits pile up in billions The billions of credits
extended her by American nancers and the
still inadequate to lift her from the bog Of insolvency into which
she was by the European welfare as well American
prosperity depend upon American products Europe cannot buy
out products deprived of huge customer And Europe
do this because she has not the wherewa to pur
chase American nacers have extended all the credit the
worth and refuse to give There deadlock be-
purchaser and seller which only the vency of Europe
break But Europe cannot become solvent without credit and
credit is available Prosperity for America impossible until
Europe becomes solvent and buy goods And there you
"We have temporarily forgotten God" say the statistics This
interesting We would like quote for readers the statistics
showing economic difficulties erased by keeping God
in mind Unfortunately Mr. Babson gives us none The history
Of this country tells that at periods approximately 10
apart suffer great economic csue believed
the inevitable workings of the capasc system of production
and distributions and not to forgetting say prayers
as the High Priest asserts But remembering to do so will reals
build houses and railroads and put the 100000 unemployed
the payroll then in the of Heaven and prosperity let's do it
regularly and loud.
Babsons enumeration Of the three cardinal principles of
oe prosperity are also interesting The Intangible spiritual
qualities" which drove the Pilgrims here history tells u.s. were
economic political and religious persecution Those may be in
tangible to Mr. Babson but to the pioneers they real enough
And these ntangbes manifested themselves thru the building
Of thousands of miles of railroads times prosperity why was
it that at the end of each period of such building had an
economic crash DO We just forget God at these regular periods
has Babso got God and the profit system Of modern machine
production under the capitalist system somewhat mixed?
If our economist grows wobbg when dabbng in religion our
high priest crOvs much when he turns economist in para