Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-07
MEN AND MONEY
By NJ. S. Rukeyser.
Copyright, 1877

prosperity DeEetS leisure, anu HAY
pave the way for an intellectual and
industrial renaissance in the United
States.
Already America, which Is berated
by foreigners for its alleged pre-
occupation with Grass materialism,
has become the best market place in
the world for the services and Gre
ations of artists. The steady mlgra-
ton westward across the Atlantic
Ocean Of lecturers. authors. singers,
and other musicians constitutes for
NAL recognition of the growing hun
ger in this country for things of the
mind and the s->'''it.
Talent commands the highest price
in America.
For example, as conductor Of the
Philadelphia Orchestra, Leopold Sto-
kowsk collects a salary of $4,000
year-only $4,000 less than the Presi-
dent of the United States and con-
siderably more than three quarters of
the bank presidents Of the country
get.
DR.. Will Durant, author of THE
Story of Philosophy" earned 100000
in royalties during the first seven
months after the book was pub
lished.
Way Wind Is Blowing.
These stray facts show how the
wind is blowing. There is growing
demand for culture and beauty. How
ever, in a country as large as
America, there is not one public but
many publics. There is still guam
tity demand for movie thrillers, for
tabloid newspapers and confession
MAGAZINES, for professional base ball
and horse racing tips.
The so-ca1led hedge clause in the ad-
vertisng of security houses Is
clumsy device for needlessly creating
vague doubts. 1t is part of the Wall
Street tradition to carry in small type
a notice to the effect: The foregoing
is based on information which we be-
lieve to be. true, but which we do not
guara ntee."
The Prudence Co, Inc, of New
York Is to be commended for striking
new note in it's printed matter, carry
ing in large type at the top of It's
circulars this reassuring line: The
truth and accuracy of the statements
contained in this circular are guaran-
teed."
Alexander Dana Moves is the dean
Of American financial editors. He has
been observing the passing show In
f1nan as an active newspaper man
ence enables him to see the future as
a clash of many conflicting forces
not as a curve. meaning simply pros
perity or depression.
Noyes Is Optimistic.
After reciting the favorable and un-
favorable factors in the prospective
business situation, the financial editor
of the New York Times, who until six
years ago had spent the larger part
of his journalistic career with the
New York Post, said, in spirit OF
optimism:
t"Probably the. markets of 1927 will
on occasion hear as much of the one
set of Considera lions as of the other,
which would be fortunate If the spirit
of prudence thereby created were to
exert as wholesome an influence on
this years business methods as 1t un-
1uestionably did in 1926. All that can
be pointed out with entire confidence
as the new year begins is that where
as the favorable arguments are based
upon concrete facts, the unfavorable
are drawn only from possibilities.
Prosperity has been prolonged in
the United States because ii has been
sustained by a healthy skepticism.
Are Correcting Abuses.
Instead of overconfidence, business
men have been sensitive of their short
comings and eager to correct outstand-
ing abuses.
The collapse of the Florida land
| boom marked a decline of dangerous
inflationary tendencies in the field OF
undeveloped real estate.
The automotive industry nearly q
year ago sought to set up better stand
ards for selling of passenger cars on
time, and the leaders of the truck
| wing of the industry have within re-
cent weeks taken steps to clean house.
In general, business men, by buying
! for near terms needs only have kept
themselves ready for any change in
conditions, and this very tquidity
tended to obviate the development of
critical conditions. The tendency of
commodity prices to decline removed
any incentive for loading up with
stocks of merchandise. The swiftness
of transportation made it practicable
tn hllv goods almost as needed.