Evening star., 1934-12-10
Quiz Panel Is HeckIed After
Address by Brookings
Head.
DR.. M0ULT0N TRACES
BENEFITS OF SYSTEM
Strawn Invited by Thompson to
Sit on Stage With Norman
Thomas, Next Speaker.

M0ultOn, president OI IIle bIOOklilSs
Institute, who last night discussed
"The Ethics of Capitalism" in the
Town Hall of Washington at the
Shoreham Hotel.
The meeting was the first held
at the hotel since the Town Hall was
elected from the auditorium Of the
Chamber Of Commerce of the United
States. Huston Thompson, president
of the Town Halls Board Of Trustees,
commenting upon the chambers ac-
ton, promised that next Sunday night,
Silas Strawn, former president Of the
chamber, will be invited to sit on the
stage when Norman Thomas, Socialist
leader, discusses us Socialism the
Answer"
Thompson held Strawn responsible
for the transfer of the meetings from
the chamber building, but denied that
"commericalism" Of the Town Hall
as charged by Strawn, was the real
reason for the chambers action.
Members Of Panel.
DR.. Moulton's views of the success
Of the capitalistic system were sub
jected to minute scrutiny by panel
of five members, all Of whom were
inclined to disagree. The panel was
composed of Felix Morley, editor of
the Washington Post; Charles W.
Irwin of New York, labor publicist
and former editor of THE Call" DR..
Charles j. Brand, agricultural econo-
mist; DR.. Frederic c. Howe. consum-
ers' counsel of the Agricultural Ad-
iustment Administration; and DR..
Broaddus Mitchell, professor OF eco
nomics at Johns Hopkins University.
While the panel closely examined
the chief speaker, it in turn came in
for some criticism from the floor, and
DR.. John w. Studebaker, chairman of
the Executive Committee, who pre-
sided, was asked, Cant we get q
better panel?"
There was also some criticism that
the -speakers-Dr. Moulton and last
Sunday DR.. Glenn Frank-talked over
the heads of the lay members Of the
audience.
The crowd applauded, however, when
another voluntary speaker from the
floor suggested that IT paid my money
to hear experts. and I want to hear
experts"
To Be Judged by Results.
DR.. Moulton traced the history Of
the capitalistic system, beginning with
the feudal period of the Middle Ages
Taking as his special text, by Their
Fruits Ye Shall Know Them" he
lauded the steady progress of civiliza-
ton from that time forward.
Individual initiative was unknown
he said, when in the feudal days eco
nomics was organized from the top
down. This plan, he said, continued
during the period of the city states,
and it was not until the century from
1850 to 1880 that there occurred in
the western world transformation
under which economic power was
drawn from the individual, instead of
from government.
This transformation he attributed
to the reaction of the individual
against central control, coming at the
same time that there was a scien-
tific awakening.
1T was found" he said, that nat
ural laws If not interfered with would
bring human prosperity"
1t was at that time, he continued
that 1t was found to be ethical for an
individual seeking his own well-be-
ing to assist his fellow man. It was
then. also, he said, that the individ-
ual found that he should be allowed
to choose for himself his own eco-
nomic course without dictation. Then
with the application of the price-and-
profit system as a mechanism of eco
nomic endeavor, it was found that the
masses as well as the individual were
benefited.
World War Blamed.
"This laissez faire system" he de-
clared, had the same goal as that
of any planned economy"
Removal of restrictive laws and the
| conception Of world society without
reference to national boundaries re-
suited.
Moving on to the World War, he
traced many advances, but to the
| war itself he traced economic malad-
justments that are responsible for
present bad conditions. Changes in
commercial policies have brought
about the decentralization of interna-
tional trade and the production Of
wealth until now "a fundamental re-
quirement is international economic
reconstruction within the next few
years"
I'm the, distribution of the Ma.
tion's income, the machinery for the
distribution Of wealth." he said, "has
in part broken, down. Business en-
terprises have undertaken to stabilize
by maintaining prices. This has re-
suited in a chronic maladjustment
between production and demand.
But it Is not necessary to abolish
the capitalist system to eliminate Its
shortcomings
Under this system we have fad
greater individual freedom than un.
der any other system, whether it be
that of feudalism or any of the sys-
TENS now in vogue in Russia, Ger.
many or Italy"
When he concluded, Morley asket
DR.. Moulton just what ethics have tt
do with capitalism.
Denies Ethics Involved.
Pointing out that development
under capitalism was accidental ant
not planned, Morley insisted that thu
system could not be defended or
moral or ethical grounds.
1.-THE ethical test" DR.. Moulton re-
piled, 'is its ultimate effect upor
mankind; whether it has resulted IL
the greatest good for the creates
number. Under the system it wa
found that the pursuit of the well
being of the individual resulted In th'
good of all the people"
DR.. Howe asked If power has no