The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-05-21
INDIVIDUAL CITIZENS HAVE HEAVY
RESPONSIBILITY

At the recent gathering of the Interna-
tional Chamber of Commerce held in Wash
ington, D. c., Melvin A. Taylor, president of
the First National Bank, of Chicago, was one
of the principal speakers
The topic of Mr.. Taylor's address was
''The Human Element in Crises
The gist of histalk in a nutshell is, that
Nov is the Time to Fight, Not to Lie Down.
The gentleman handled the important
subject assigned to him without frills, Civ
ing his audience straight from the shoulder
talk. He laid the direct responsibility of the
present deplorable worldwide economic con-
dition to the World War. According to Mr..
Taylor the world is looking to the United
States for leadership.
The gentleman's address was so full of
common sense and reasonabeness that the
Herald believes the excerpts published here
with will appeal to large number of its
readers:
If it is the responsibility of business and po-
htical leadership to promote the economic and
social welfare Of the community, it way be worth
while to take stock Of conduct and see how
we have measured up to duty in recent
years Why should there be in this land of
plenty, with unlimited facilities for production
abundant harvests, and surfeit of credit, mil
lions of hungry and unemployed? It is not the
fault of those who would work but can find
no work to do. They have little or no choice in
shaping their course and while it is true that
society owes no one living, society does owe
everyone an opportunity to living. In
that obligation we have failed, and until we
know wherein we have failed and why we will
not have done our duty nor will we have found
that stability which is the universal desire of
mankind today.
Why have we failed? I do not know but
think can point to certain conduct on the part
OF leadership In industry, finance, agriculture
and government which may have been respon-
slDie In some degree for the inexcusable tragedy
OF the hour. When we emerged from. the war
and the first readjustment period of 1920 and 1921
we had an industrial plant capable of supplying
the satisfiable wants of our population based upon
the current income, which exceedingly
nigh IN relation to former periods. Technology
1cal and management improvement enabled a
rapid expansion of productive facilities to take
place Large foreign loans vastly expanded our
export trade. Consumer credit augmented do
mestic purchases Selling ceased to be an art
and taking orders was an accommodation to the
customer. The sea smooth, the breeze ia
vorable, and the directions were full steam
ahead! Then it was that we lacked foresight
and plan. Business leadership then, had it
red the barometer properly, should have noted
the storm that gathering and trimmed sail
accordingly, but ambition for place. power and
profit blinded leadership to the obvious dangers
ahead and prevented the preparation Of safe
harbor against the hour of storm.
1t has long been fashionable to criticise the in
olvlduA who buys beyond his income, thereby
becoming victim or debt with its subsequent
embarrassment and, all too frequently bank
ruptcy or worse. What shall we say however,
Of business leadership which expands its plant
and equipment without considering the source
OF its temporary market and increases its forces
to an extent which intelligent understanding
should indicate would leave it seriously involved
with thousands Of employees out Of work when
such demand had passed. Certainly we can
not blame the individual and excuse the man
agement! Neither do believe it is a sufficient
answer for management to say that it must take
business and meet the demand when it comes
without giving consideration to the consequences
that may follow. If we are going to level the
curves of the business cycle the adjustment
must take place at the top Of the peak rather
than in the valleys, and If the adjustment Is
made at the top, believe it can be, the val
leys win not be so deep and there viii be less
cause to I'LL In the low spots. Little has been
done In this direction In the past and, unless
we change our policy in the future, we may not
hope for that stability Of industry which every