Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-10
1882 ELECTION OUTCOME
HINGES ON END OF SLUMP
Observers Who Consider Present Trade
Stagnation Depression in Ordinary
Sense Think Worst is Over.

think that some college professors see
a good deal that does not exist. But It
is not only in the colleges. At meetings
OF business men. at the meeting OF the
United States Chamber of Commerce
last week, for example, the idea was
brought forward.
Perhaps 1 can best suggest the thing
that is asserted by going to a book
recently published. 1t was written by
the dean of the Harvard School OF
Business Administration, Wallace Brett
Donham. Let not the reader be warned
from credibility by this association with
academic circles. The Harvard School
Of Business Administration is a very
orthodox and conservative institution.
1t was founded by the late George F.
Baker, the oldest active banker in New
York City, and perhaps the richest, GER
tainly one of the most orthodox. What
this institution teaches is actual bust
neSs-buying and selling and dealing.
Some of the other departments Of Har-
ward think the school is much too
'hardboiled" TO have a place beneath
academic elms. And the dean Of the
school, the writer Of this book, Mr..
Donham, is experienced and successful
in business law and finance director
OF mining corporations and public
utilities and savings banks.
Mr.. Donham calls his book By
warning title, Business Adrift." An idea
of its contents can be conveniently
gathered from a summary written by
Richard j. Walsh in the form Of an
exceptionally serious and earnest edi-
torial in-of all places-the periodical
Judge.
America" says Mr.. Walsh, needs
Plan capital Pr. So much is now
generally accepted. For months the
economists have been crying for some
conscious control of our social trend
With gratifying promptness we are
passing into the phase of actually try
ing to make start toward a plan.
Dean Donham of the Harvard School
Of Business Administration has done an
important job in his book America
Adrift.' 1t ought to give us a start in
the right direction. Unless greater
stability is achieved he urges. it is
doubtful whether capitalistic civiliza-
ton can long endure The lack of q
plan is largely responsible for our pres
ent difficulties We must. says Mr..
Donham, as a safe business policy,
assume that the Russian Soviet plans
for the next 5, 10 and Is years will
succeed"
Most Authors Mention Russia.
In citing Mr.. Donham ! have mini
mized the situation, for he is, so to
speak. decidedly one of the less revu-
lutionary of those who assert with in
tense conviction that either we must
adopt certain amount of the collec-
tiylsm with which Russia is expert
menting, or If we do not we are bound
downward for long period-bound, in
deed, not merely toward the prolonga-
ton Of business depression, but toward
the disintegration of civilization. Most
OF those who believe this way say 90
much more strongly than Mr.. Donham.
Most OF them predict a greater degree
of collectiYism through Government &C.
ton.
The amount OF this sort of talk and
Of writing is enormous, and it comes
from sources. some of them. that make
you rub your eyes. Nearly all the au-
thors Of it mention. as Mr. .Donham
does, Russia. I can best express the
observation that has dawned upon me
by saying 1t is plain that a consider
able portion Of the thinking of certain
circles in the United States has been
seriously affected-or is infected" the
WORLDLY what is going on in Russia.
I speak of all this talk not to say I
believe 1.-THE reader will gather that
I attempt to describe it merely to record
a phenomenon existing in circles that
most of my readers will call "high-
brow to so great degree as to be
AAAAhO4 LaIL' WAldL II pIGQ1CIS Is a WOTlQ
very different from what We have known
"a world based on new social phi
losophy, philosophy which departs
from our familiar individualism and
collectiviSm
And now to get back to where we
started about next years presidential
election. If this is not a mere business
depression, if it is the beginning Of g
revolution, then clearly it will not be
ended by November, 1882 On the con-
trary. If this is the opening phase of a
revolution, We shall be much deeper
into the foaming trough of it by next
election day.
Perhaps If the Projectors are right.
we shant have any more presidential
election days. If the prophets Of the
new philosophy are sound, President
Hoover would seem to have two choices
either he can go the way of Alfonso
and Kerensky or he can keep himself
on the job permanently through the
device OF making himself a Mussolini.
For myself, what expect is a cam
paign and an election in the old famil-
lar way. except that I think it will be
the first really doubtful election in Is
years and the second since 1896.
think that Americas hills and dales
will echo in the old familiar way-so
familiar as to be sweet to the ear. The
donkey will bray, the elephant will roar.
What they bray about and roar about
won't be entirely clear, but it's q case
Of
So the tune has right good ring,
1t doesn't much matter what song they
sing
We shall all get thrill out of ia
kick" as the younger folks Say-afld
after election day we'll continue. to live
happy ever after in the same old U. S. A.