Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-04-15
MEN AND MONEY
By NJ. s. RHkeySer.
fCouvrlght 1927

| fCopTright 1927
After a long period OF somnolenc'
! America is at length gradually pe'
| coming air minded.
The spectacular achievements In
the air of gallant Army and Navy
flyers help 10 focus public attention
on the opportunities in commeicia
| aviation. The proposed non -stol
transatlantic flight next month by
| Comdr Richard EVERY Byrd, u. :. n.
| leader of last years North Pole eX-
pedition. Is The latest of series OF
| incidents contributing 10 the ad
| vancement OF aviation.
Numerous commercial freight and
nassenrer routes In the United States
! are already in operation or have been
projected for the Summer. The sd-
| vancement OF the art. according to
those in the industry. has made COM
merciai aviation safe. Accidents are
rare. except in the military service
where the flyers depart from estah-
/ lished air routes and experiment
| recll essly
The success of sir mail Is stimu-
/ latlng the development OF CONNER
| cial aviation.
Subsidies in Europe,
In Europe. where passenger AMI
freight service has long been in
operation. the new means Of trans
porta ton was nursed along In its
development stages by government
subsidies. The absence of such sub
sides in this country has delayed
actual developments. hut venture
some capital is now beginning to flow
into this field. America is also
handicapped by stronger winds than
prevail In Europe. Moreover. air
travel here must meet the compe-
;ition Of better train service than
IL aVaila BILE overseas. Moreover. the
absence OF frontiers In This country.
which cause DELAYS in train travel
removes an obvious advantage OF air
travel in Europe.
Passenger travel by airplane viii
he stimulated SIS engines assuring
high speed are perfected.
The aggressive entrance Of the
Ford Motor interests into The air.
plane-nnall king industry is helpinc to
give a spur 10 the whole develop
ment.
America is going through = trans
formation i'm its attitude toward the
living machine 1t Is ceasing to he
merely thing Of academic wonder
and is about TO become new tool
for tactical use.
As this occurs. another infant in
dustry will take on the proper.
lions Of maturity.
Foresees FooIproof Planes.
William r. Mayo. chief engineer Of
the Ford Motor &C.. who is keenly
interested in The prospects of the air
-. R,.- -. a.
chimes will be made foolproof and sold
I'm large numbers like fiivvers.
II remains TO he seen whether Ford
can pioneer in popularizing the air
plane to the same extent that he
introduced the automobile 10 a wider
public.
The fact that pessimistic forecasts
concerning business and the specula-
tive markets have not yet been full
filed has been the subject of wide
spread comment.
One expla nation OF the prolonged
resistance to reactionary tendency has
heen the disposition to discount
adversely and thus prevent its occur
renee. In past cycles troubles usually
followed periods of excessive conf
dence. Slumps came after optimists
naiveIv believed that the trees of pros
perity would grow right up 10 the
heavens.
In the stock markets fears OF q
catastrophe early Spring slump in
duced caution. Many reduced their
speculative commitments and those
who remained kept their margin ac-
counts for the first part well bolstered
with reserve capital.
Surprises cause shocks to the bust
nd
turns which are expected are readily
adjusted.
William p. Munro, professor OF his
tory and government at Harvard Uni
versity, braves the lash of popular
prejudice by undertaking to demon
strate that he so-called Indicators
of great wealth Tor the money power)
in politics usually make decisions
which correspond with the interests
of the ma jority OF the people.
Interests Mostly Identical.
"There is no warrant for the asser-
ton" Prof. Munro writes in the
Atlantic Monthly, $50 commonly
made, that the interests Of the we'll
TODD are rily inimical TO the
wellbeing of The whole people or that
there il an essential antagonism be-
tween wealth and the common good.
In the main. as history proves, the
two have been identical, or measurably
identical they have not usually been
in conflict.
II am not trying TO whitewash the
plutocrat in politics. 1t would be a
thankleSs task, for nobody loves him.
It would be an impossible task for
there are too many sins on his con-
duct sheet. The money power is no
myth in American political life; it is
an active, relentless and for the most
part an invisible factor there. But a
good deal of the popular antipa thy to
| it rests upon myth--on the Illusion
that the money power Is all-domi-
mating in politics and that it's activi-
| ties are invariably detrimental to the
best interests of the people as q
! whole.
Vested wealth in politics has often
sinned against both the truth and the
| light, but it is by no means the
scarlet woman that our selfconsti-
| tuted tribunes of the common man
would have us believe. In the grea
crises of political history its own
| interests have often conceded with
/ those of the people
/ Obviously. If we are to believe the
Harvard sage. money is not the root
al