Evening star., 1932-07-12
NEW BOOKS
AT RANDOM
/. C.. M.


THE CRISIS OF CAPITALISM IN
| AMERICA. BY M. j. Bonn. Trans.
lated from the German by Wini-
fred Ray: Foreword by George s
Counts. New York: The John Day
| Co.
The doctor looks at America. A
country, certainly ailing, If not. in fact
quite desperately i'll.
Not the genial Joseph Collins, M. D.
whose familiar succession THE Doctor
Looks" has from time to time made
diagnosis of our feshly ailments. Life
love, death, paramount among them.
Doctor of another kidney. this one
OF other blood strain, Of different pur-
pose and field Of investigation. Here
is the German scientist, thorough
going in research, inflexible in method
positive in findings. In the character
istic intellectual vigor of his tribe and
race the doctor here sets himself to
the task of digging into the vitals OF
the United States to discover, If may
be, the sources of that malady which
within the past decade has developed
either a distressing skin. disease upon
the body polite or, even more menac-
ing, has implanted deep within the
body the virus of destruction itself.
Under the title of capitalism" this
investigator budgets the economic field
Industry, finance, politics, government
society. This field he subjects to a
searching scrutiny under the following
divisions: l. The Boom. 2. Gathering
Clouds. 8. The End Of Permanent
Prosperity. 4. The Meaning of the
Crisis. s. The Old Magic. g. The
| 90 ~ ho
Magic 8. Province or World.
This series discloses the drift, the
familiar drift, of expert analysis and
general discussion of the politico-
economic situation of this country from
the common standpoint of European
publicists.
Nearly half of this study is devoted
to its first chapter, THE Boom" An
excellently clear and inclusive exposi-
ton Of the various elements of feature
and influence that contributed to the
phenomenal prosperity of the United
States within the period under discus
sion. This chapter stands as worth
any ones while. 1t Is markedly fine
summary of the relationships developed
in industry throughout the country of
the Intervening Of factors OF work,
trade finance to create the stupend-
GUS whole of the United States as a
going concern.
The high value Of this first chapter
1.-The Boom" lies only, in part, in its
intrinsic substance. In other part its
worth is to be found in OUR own need
Of it. We are too ignorant, generally
speaking, of the facts set out here And
this country, Of all others, cannot afford
ignorance. To be sure, certain aspects
| Of the dominant economic field are
within common grasp. But as whole
and in its basic significance, we do not
apprehend 1t. This initial chapter offers
a great layout of the subject. How il
developed, beginning to knit small units
into larger ones. How capital became
| sympathetic to the movement. itseh
expanding in measures Of support anC
encouragement. How high measure ol
efficiency developed through experience
with Shiftings and adaptations devised
| and practiced to remedy shortcomings
whenever these appeared. A great
school is set out here.
And within the chapter is point OF
sheer adventure. This, the creation OF
a home market when the short-money
state of foreign countries menaced to
drive back the amazing tide of produc-
ton and wealth. "All right" said
America, well make a market at
home" And so they did. The automo-
bile shrank in price to the measure OF
every wCrkingman'S pocket. And Miss
Mary O'Grady rode around feeling ex-
actly like the rich mans lady. Artificial
silk, cheap cIc:hiag of fashionable cut
and make transformed frumpery to ele-
gance. A thousand labor saving devices
turned work into play. changed the
! highways Of traffic into pleasure roads
for a world of tourists. The great feat
was accomplished and the country be-
came its Cwn market.
Then the age of speculation set in.
| Money went mad with its own powers
and capacities. And here the second
chapter of this study in the rise of
American capitalism begins under the
ominous figure Of gathering clouds
and the promise Of storms. A chapter
that calls for careful study by the
American citizen, for, probably. nc
theme is more deeply cryptic to the
average than that Of money. Just
plain money In its normal behaviors
| is, beyond the dollar in hand, dead
Greek itself to the commonalty. And
here, though the lesson be by way OF
admonition, Of accusation even. it i:
one to be studied and minded by our
rather badly scared holders Of wealth
many Of them. alas, playing the en-
forced role Of sheep before Their
Shearers.
Then the crisis. the catastrophe ol
1929. A calamity which DR.. Bonn
analyses in source and course, in ex-
tent and likely duration. OF the last
point, however. one mans guess is as
good as another's.
Beyond this point Of clear analysis, O.
summarized fact and fair forecast, tht
study, along with its findings, derived
from the technical students powers o
observation and reasoning, the work be.
comes largely that of admonition, o.
warning to the people of this country
against the calamity Of in-growing or
the one hand, against the catastrophe
of complete generalization in the guist
OF communism on the other.
For, deeply intellectual as thi.
German author Is bound to be. highly
technical in his chosen field as he 81
clearly Is, versed to the last letter Of
economic lines and behaviors that lii
at the very root of the science itself
despite all this DR.. Bonn has feelings
Just emotions and feelings, quite apart
from his specialized intellections. Anc
these feelings, in this case, are those
OF diStrust toward the American people
No. not distrust of the good intent Of
this country. OF its sophisticate intelli.
gence instead, and therefore. of 1t,
economic and particularly Of its politica
| wisdom
We are too young. However. there 1.
a cure Tor that. We are too big. Well
we once took hand at division within
the commonwealth. But it seemed un.
wise to split perfectly good whole inte
parts, and so the Union was maintained
to the rejoicing, so far, of both side.
In the contention. The American, ir
his attitude toward persons and things
Is completely devoid of respect.
He lays stress on the right of the new
Just because it is new and untried." "Ir
the case OF objects and institutions oi
old standing, the length of time the,
have existed Is to him only another rea.
son for getting rid of them as quickly
| as possible" When, DR., Bonn. have