The Washington times., 1924-11-15
DE- CONTROL
IS new
MOVE
Prosperity, Says Hard, l.
Contradictory to Belief Of
Pessinnists
BY WILLIAM HARD.

olu luHQAMeHGAlb, nVt Only Al pun
tics, but also in economics vir-
tually throughout the world.
That is the main immediate
retrospect and main immediate
prospect greeting the observer
and narrator of contemporary
events.
Returning travellers report re-
turn toward the old principles Of
business and industry in virtually
every country in the world except
Russia.
In Russia there has been re-
action toward communism, to-
ward governmental industrial con-
troll and operation. Travellers
returning from Russia leave little
doubt on this point. Lenin's
famous 'new economic policy" has
not led on toward more and more
private enterprise in industry on
. large scale in Russia. A busi-
ness man in New York, who main
tains an observer for his firm in
Russia, says to this writer:
'aThe governmental theorists have
the upper hand now in Russia and
/ fear it may be several years before
We can do any real business there.
VS. tSEp. -. k..~.ISo n rsl,,,..,s,.s,
Elsewhere, however, in this writ
tiers opinion, after talks with many
recently-traveled Americans, the tide
a running strongly toward de-control
by government and toward resump-
ton of the idea that the path for
ward is through private investment
and private work.
This is the reason that foreign Sc
curities are finding so much accept |
ance in the New York money market. |
The world is not moving either to- |
ward the new millennium or toward |
the new chaos so freely predicted By /!
many writer's.
1t is moving toward the old drudg.
cry and old blessing Of going to
work in the good oId-fashioned way
of earning money, saving 1t, invest. |
ing it, terrifying old things, devel- |
oping new things, for private profit |
and private general advancement |
with the wartime Bureaucracy
thrust more and more aside
Increased Production.
The result 10 that the world Is
rapidly Increasing in productivity.
The world in 1923 produced twice
- much coal as in 1918.
1t produced more than twice as |
much copper.
It produced almost three times
- much aluminium.
lt produced almost four times as
much petroleum.
1t produced six times as much
electricity from water-power.
While imaginative writers have
been consigning the world to chaos,
the world has been consigning itself
% increased production.
While the writer's have been
Wailing, the world has manifestly
been working.
When the writer's wake up they
will write optimistically. The
world has been acting optimistic.
ally.
That is, 1t has been living with
q firm eternal grip on the old
eternal principles Of life and work
while the writer's have been Just
using their wits and wandering in
them.
The world can now afford to
drink almost three times as much
tea as it drank before the war.
The luxuries are expanding in
volumne, just as the necessities
are expanding in volumne.
Big Private Ventures
This is being done, not by gov.
Ornments, but by private capital
and private labor.
Sometimes, as in the case Of Dan.
ish agriculture, which has been re.
markably successful, this private
capital and private labor are called
''co-operative." ~
The exception thus apparently
= not in any true sense an ex-
The famous and marvellous Dan
fish cooperative societies are not
governmental They are not made
by bureaucrats. They are made
by the farmers themselves. Thy
are private.
The enormous British cooperative
movement is purely private.
All the great recent economic adj
vances, whether capitalistic or CO.
operative, are private.
New York bankers are elated and
confident.
They are confident not merely
because Of the election Of Calvin
Coolidge.
They are confident, because az they
look over the whole world, they
see 1t in fact not crazier and
crazier but saner and saner.
Calvin Coolidge, It now appears.
y not a chip going against the
tide. He is a chip showing the tide.
He Is not a freak. He Is
symptom.
It Is thought in New York n.
nancial circles that perhaps even
Calvin Coolidge is not as anti,rov.
ernmental as the world is now NOV.
ing toward being.
Mr.. Coolidge is for Federai De.
pArtment Of Education. He a for
Governmental loans to farmerA to al.
versify their crops.
He undoubtedly, nevertheless. 70
w writer's absolute personal lmowl-