New-York tribune., 1922-03-22

We lsthe pettel care OIL our own family
than we do of a strangers; desire
tavors for our own city, state or
country more ardently than for
another's, and, lastly, we are honest
and upright, not that we may save
some one else's soul and send it to
everlasting bliss, but that we may
save our very own.
All selfish, all right and proper,
and all for the best. Why not, there
fore, examine all things from this
so-called "selish" angle?
Not the individual selfish angle,
but the mass selfish angle, because,
paradoxical as it may seem, mass
selfishness gratified and progress go
hand in hand. Since man first pop
ulated the earth all progress has
been marked by rise in the average
standard of living.
Why not, therefore, apply wher-
ever possible a measuring stick that
would give the only important an
swer there is to any big thing, be
it policy or plan, a movement or
an institution?
Does it raise or lower the aver
age standard of living?
Imagine a Congressman approach
ing the problem of the large pack
ing houses from this angle. Instead
of beginning to rail about the profits
of the packers he would discuss
whether the majority of the people
paid less or more for their meat
through this system, and after
mathematical audit he might pos
slbly conclude that the system that
sold meat costing SO cents for 81
was better than another that had
to get $1.05 for the same amount
and quality, and that virtue Law not
in the smallness of annual profits.
but IN supplying more meat for less
money.
Imagine the same Congressman,
instead of ranting about para
sltlcal stock exchange, inquiring
whether or not it benefited the farm
ing community he represented rather
than taking it for granted that it
was the enemy of the rural districts.
1t is possible, strange as it NAV
seem, that he might conclude that
without this "leech" the farmer
would never have reached the stand
ard of living that is his at present.
1t is possible, even probable, that
his car, his telephone, his phono-
graph, his modern farming imple-
ments and many of the things we all
consider the necessities of life to-
day would be lacking were there
not mart capable of buying the
securities that are daily offered for
sale.
The advance from homespun
fabrics and homemade implements
would never have been made without
large manufacturing and distribut
ing units. Large manufacturing
units require investments on the
part of the public in their stocks
and bonds. Investors require q
ready market for their securities in
case their necessities demand it.
What bank, for example, would dare
to invest the money of its depositors
IN bonds that could not be readily
sold?
We think of securities as being
more or less liquid in themselves.
whereas to a large extent it is the
market provided by the Stock Ex
change that makes them liquid. Re-
move your market to the North Pole
or take your Liberty bonds there
and leave the market here. as vo,,
prefer, but in either case business
and the farmer would suffer from
frozen credits not caused bv polar
temperatures.
We argue selfshly enough to get
good results, but our selfshness is
unintelligent. A Western Congress-
man says, "Let us have the bonus
the East will pay for it." But will
1t? He does not know nor do we
but our guess is that we all would
pay for 1.-THE farmer just as much
as the banker, and little practice
with the measuring stick might
enable us to determine definitely
When the day comes that sees all
economic questions tested by the
formula Of does it raise or lower
the average standard of living, will
we not be happier, more prosperous
and more enlightened?
Bullets for Bandits