The mirror., 1923-12-06
UR President instructed me to
prepare "a Few Thoughts on
the Economic Situation and our
Present Day Problems.
We all know that Economics

FnlNgMgN0N Present Day Problems"
tESy We all know that Economics
is the science which treats of all the ac-
tivities of man in his efforts at getting
living, his attempts and his success in the
acquisition of wealth of various kinds, the
distribution of that wealth so acquired and
the results of that distribution and its
effect on mankind in general.
The study of the science of economics,
of course, covers period of time extend
ing from the very earliest moment in the
known history of our social relations,
down to our present day existence, and
with writers and students of former times
was an interesting subject for discussion,
and future scientists and historians will
find it an equally absorbing topic. 1t is
impressive and keenly interesting to OBJ
serve with what wonderful accuracy the
general laws of economics continue to
function and direct our course, ever main
tanning their full force and vigor down
the ages, even with such strength and
latent power that we should all realize
that they shall be equally efficient and
governing in the years that are before us.
In attempting to discuss our present day
situation and its problems and possibilities
can we first state with any degree of ac-
curacy what our condition or economic
position is? From an individual stand
point the question may be answered with
sufficient promptness, although it will be
observed that even such an answer cover
ing ones own affairs may not be entirely
the result of the cool consideration of the
facts, as those facts viewed from GER
tain standpoint and with full effect of the
psychological aspect of the person consid-
ering the question.
With our 10o,0O0,0o0 and over popula-
ton we may reasonably expect as many
answers, possibly as many different an
swers to our question, as the individual
usually has his own opinion of his own
position, a very definite one with respect
to his neighbor and an equally conclusive
idea of the tendency of the country as
whole. 1t is from the collective power of
the predominating individual opinion that
we can best secure our answer to the ques-
ton and the forces set in motion by this
massing of thought points the way to our
solution of the problem, and these same
forces although they may be slightly
swayed at times by obstacles or irrelevant
factors will eventually be found directing
us along the course of our economic des-
tiny, but when the answer is in our hands
and we can read it, it is by that time too
late to attempt to change it because it has
then passed on into history.
What news do we hear from the field
of our country's business activities nova
days? 1t is most confusing at best. The
glowing reports of business successes and
ahead of the bankruptcy proceedings that
are being prepared; our savings banks
are bursting with deposits and some are
bursting without them, our big depart
ment stores are paying extra dividends to
their share holders and their patrons claim
they cannot obtain the necessities of life.
Two railroad systems in the East de-
clare extra dividends and one in the West
seeks surcease from its financial troubles,