The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-17

tic and confident spirit among legit-
innate business men"
At the indianapolis public library,
L. L. Dickerson. librarian, discussed
the book from the point of view of
a man whose life is spent with
volumes Of all sorts.
Simplicity Is Praised
The Coming American Boom is
the latest sensation in the field Of
books" he declared.
When it was published in New
York two weeks ago. one member
Of the Stock Exchange took the en-
tire first printing for distribution to
his customers and employees. Other
financial houses cabled to England
for copies. That is publishing his
tOryl
The author is adviser to one of
the London financial stock exchange
houses. His reputation for know
ing his booms and depressions
brought him a tremendous follow
ing in the tight little British isles.
Now that ne has turned his at
tentlon TO America, he is utterly
fearless in his prophecies concern
ing the behavior of business within
the next few years. 1t would be I'M
fair to the reader to tell what the
majors prophecies are, even if this
could be done in brief space, but it
Is telling no secret to say he fore
sees one of the biggest booms in our
history and that he tells when it
VIII come and what to buy.
Major Angas writes so simuly
that We laymen come to believe that
We understand such terms as infa-
ton. def1ation, demonstration. and
sterilization.
He gives us his answer to uues-
tons which have a personal inter-
est to all Of Us and concerning
which we still are in doubt. Only
time will tell whether he lis right
or wrong. but for the present he
has stirred up an interest I'M
equaIled since the first appearance
Of the technocrats and of the New
Dealers.
IL seems that everybody is trying
TO get The Coming American
Boom" at the same moment. I am
immensely pleased that The Indi-
annapolis Times is meeting this de-
mand by publishing the book while
the interest remains at white heat"
Sheppard Gives Version
Joining the chorus which pro-
nounced Major Angas' book most
interesting, Virgil Sheppard gov
ernmental research bureau Director
for the indianapolis Chamber of
Commerce, expressed considerable
doubt as to the soundness OF the
majors theory in the following
statement:
Major Angas' prediction of a
boom in the United States as a re-
suit of credit initiation appears reas-
enable if his theory is correct.
He assumes that a large increase
IN bank deposits eventually will
cause a great increase in spending,
with resultant increase in nearly all
lines of business activity.
1t appears to me, however, that
If such does not happen, the spend
ing will be the result of fear that
initiation may result in tremendous
ly higher prices. Complete recovery
can come only as confidence returns
and il seems TO me that something
mor than credit initiation is needed.
though credit initiation may be one
of the cOncomitant factors.
What the other features are, 1
am not enough of an economist to
know. Increased efficiency of the
machine, length of working day,
governmental regulation of busi-
ness-these are factors that are US
ually suggested.
Major Angas' prediction is based
upon what appears on the surface
to be a simple monetary remedy,
credit initiation. But wasn't it too
much credit initiation that caused
the 1929 disaster? Maybe the eX-
perience Of this depression will
teach the American people when to
stop credit initiation in the future.
II this is possible, the majors pre-
diction may materialize.
AT least, his story is most in
tereSting."
Valuable, Says DIR. Wicks
The Rev. F. S. C. wicks. All Souls
Unitarian church pastor, said:
In its publication of Major An
gas Coming American Boom, The
indianapolis Times is performing a
valuable service to the community.
The reputation of Major Angas
for predicting coming economic
events is such that the public will
take seriously his present predic-
tons. With him there is a Skillful
marshaling of the facts and appar-
emily sound deductions. All goes to
give confidence in the Roosevelt pol
icies and confidence is the first es-
sential Of wi recovery.
Major Angas is a sound econo-
mist and can not be dismissed with
the sheer. Mere theories His
theories are based on past eXpe-
rience and upon an ascertainable
facts.
There must be no expectancy of
miracles. but all goes to show that.
with patience. the American people
may find themselves once again on
firm ground with every assurance of
recovery"