Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-07-11

! say II cannot be done. Some declare
It is folly to try to make periods of
prosperity more restrained and periods
of depression less distressing. The
plan has been called an %anti-boom
scheme designed to take the romance
and fun out Of business. one of the
observers attending the first meeting
said the plan of preventing booms re-
minded him of the tender-hearted
farmer in one of the southern states
who never used a wagon but Invariably
hltchet his horses to a stone boat, a
sort Of sled which drags on the ground.
Questioned as 10 his reason. be ex-
planned he used the dragging sled rather
than the rolling, wheeled wagon because
of his horses.
"When | use a wagon" he said, il
pulls SO hard going up hills that | feel
sorry for the horses. When ! use the
stone boat. it pulls SO hard all the time
that the horses don't notice the differ
ence on the hills"
The proponents of the plan say that
what they desire is not so much to take
the joy out Of the booms as to take the
distress out of the depression. De
pressions in business have been re-
garded as so unavoidable in character
that following the one of 1907 a de-
tense was made in a lawsuit hat a
mans failure To pay the amount for
which he was sued was due to the panic
which. 1t was claimed before the court.
was an act Of God and therefore a valid
excuse for n~on-payment of the debt.
The court did not allow this ronstrur-
ton to relieve the man from response
b1llty but the fact that such a pleading
was made reveals how general is the
idea that periods of business depres-
sion arc hpyop6 human n,ptr,l
The theory on which the committee
now at work is proceeding is that much
of the distress can be taken out of
periods of depression by providing. in
times of prosperity, for work which can
be performed during bad times. One
Of the activities most depended upon
for aid is public works. The proposal
is made that during periods of pros
perity when work is abundant and
wages good, the federal government and
state and municipal government should
have as little work done as possible.
Only absolutely necessary public build
ings should be erected and practically
no great public enterprises, such as
parks, extended water or subway sys-
tens, irrigation and reclamation prof
ects and the like, undertaken.
Public Works a Safety Waive
Then, it is claimed. when Il period
Of depression comes and private en-
ployers lay off their workers, the fed
eral. state and municipal governments
should ~inaugurate great programs Of
Improvement. embarking upon the
stored-up work which has been held in
a%beyance during prosperity.
During the waiting period. the plan
would provide that reserve funds
should be laid aside for the public
work to be done in periods of de
preston and therefore thousands of
people would obtain employment and
receive pay ont of these funds who
otherwise would not be employed.
The plan can be applied TO private
work as well. During periods Of pros
peritv a corporation could accumulate
reserve funds and hold in allowance de-
sirable extensions and improvements
not essential TO the making of the
product. Then when the depression
arrived. this would could be performed
and men kept from unemployment
thereby.
OF the objections raised to this gen
eral plan the principal one is that it
is only in times of prosperity that
and governments feel they
can afford TO make improvements and
extensions. In hard times all feel poor
and discouraged and are reluctant 10
spend money for anything. it is this
feeling of holding back which protracts
periods. Also. ii is urged
that only in periods of activity is the
need felt for improvements and extern
Companies, cities and indivi-
duals are like the Arkansas man Of
whom the Arkansas Traveller tells.
The Traveller found the man sitting
in his cabin and nearly drcnched by tho
rain pouring through the leaky roof.
He asked him why he did not repair
the roof. The main said it was so wet
and slippery in the rain that he feared
to attempt the job. Asked why he
did not repair the roof when it was
raining. he explained that then the
roof did not leak. This is precisely i
the psychology of business depressions
and periods of prosperity.
The members of the committee
soon will make a report on this
are Owen -. Young. chairman;
.larence Mott Woolley. Joseph II.
Defrecs, Walter Vol. Miss Mary Van
and Edward Eyre Hunt. secre-
tary. DR.. Wesley G. Mitchell of the
Bureau of EconSmic Re
search. il aid,np the committee. '