The Washington times., 1922-09-16
MONEY-HADE
Optimistic Manufacturer.
Pessimistic Economists.
U. 8. No Place for Latter.
Theoretical Stuff.
By GEORGE w. HINMAN.

CHICAGO, Sept. 16.-The sun
Is shining" says the spokesman oil
the Illinois Manufactures. There
is q growing demand for farm and
factory products; a bumper crop has
been grown; the railroads are in the
market for cars; there Is q big de-
mand for labor al good prices: the
activity Of the building trades Is
adding to general welfare; money is
plentiful and seeking investment at
reduced rates" .e--
And the two big strikes are ended,
and unemployment at last Is almost
over.
All this is good enough in its
way. but rather familiar. Why give
space to facts that are so well
known?
For a simple business reason
that the truth ought to be told
until 1t is believed. But who in
business deny It? A lot Of people.
For instance:
A bank president requested the
writer to read two new books. In
the hast three days the writer has
read them. Both are Of the popular
kind, easy reading for tired business
men, but gloomy as Jeremiah. Here
Is a specimen, as regards the United
States:
Majority Rule Here"
"In the United States the ma jority
rule. What sort of majority? A
majority in which the average intel
hgence IL that of a boy or girl of
thirteen or fourteen. That is, nearly
two-thirds of the American people
haven't any more intelligence than
they had just before they got to
high scohol age. How does anybody
know this? BY the army intelligence
test used on the young men con-
scripted for the great war"
But that Is not all or the worst.
The less intelligent people are mar
rying earlier and raising larger fami-
lies than the intelligent ones. There
fore, they are growing more uu:ncr-
Gus all the time. And not only are
they growing more numerous, but
roore discontented. They object to
the intelligent people who pass them
in the race Of life. So they are get
ting ready to assert the power OF
the majority, take over business,
put the present business leaders to
cleaning streets as in Moscow, play
hob generally with all decent tusi.
ress and bread-winning in this coun.
t"y or in any other country.
What Is the remedy? None is
suggested except some new quail.
fications for marriage. These
would not produce results for a
century or two, and so may be
passed over without comment.
Theoretical Stuff.
This is the sort Of theoretical
stuff that to business Is like poison
in the blood. 1t tends to stifle
hope and imagination, kill ambi.
ton and deaden enterprise.
The other pessimist, also an
economist, tried to hang Europe
like a milestone. on our neck. tn
him one reply 7may b made, AZ
though scores of others come to
mind. 1t is that, in its feeble in.
fancy. the United States doubled
its occupation, tripled its resources
and vastly increased its wealth
while Europe lay in ruins under
the heel of Napoleon; that later in
the ten years that brought revolu-
ton and wars to the nations of Eu.
ropes continent. the United States
went steadily forward and doubled
its wealth again. and that in the
next ten years, with a life and
death rebellion on its hands and
with three warS convulsing Europe,
the. United States doubled its wealth
again.
There are other ways of refut-
ing the pessimist, but this one is
enough. In word, such college
bred or foreigp-born pessimism does
not apply here.