Evening star., 1935-03-31

purpose of the investigation as a whole
is to determine whether the existing
distribution of income in the United
States among various groups in society
tends to impede the efficient function
ing of the economic system" The
two previous volumes have been
Americas Capacity to Produce" and
Americas Capacity to Consume" In
this present volume DR.. Moulton dis
cusses the nature of capital. its forma-
tion under primitive conditions, and
capital formation In both communistic
and capitalistic societies. Other sub
jects Of chapters are the relation Of
consumption to capital formation,
commercial banks and capital forma-
ton, the formation of public capital,
and maladjustment between savings
and consumption. DR.. Moulton's work
is an economic study, based on facts
and figures, in no way controversial,
and is accompanied by a series of dia-
grams and charts and four appendices.
His conclusions are: !. THAT new
capital Is constructed on an extensive
scale when consumption is expanding
rather than when it is contracting. +"
2. THAT in a period when the OUT
put of both consumption and capital
goods Is being increased, there is an
expanding flow Of funds through both
consumption and investment chan
nels," and 3. THAT the growth Of
capital is directly related to the de-
mand for consumption goods" The
result of this last conclusion is that
excessive savings may produce f1nan-
cial disorder through limiting con-
sumption and retarding the expansion
of capital.
GREEN LIGHT. BY Lloyd c. Douglas.
Boston: Houghton Miffiin Co.
A s PREACHER and writer, Of SER
mons and serious essays, Lloyd
Douglas put in quarter century be-
fore he discovered, or the public dis
covered for him, his gift as a writer
of philosophic fiction. Green Light"
Is even better as story than the
popular Magnificent Obsession" and
much better than Forgive Us Our
Trespasess." The motive of the whole
story is the same situation as that In
Helen AShton's recent novel, Hornets
Nest"-an elderly surgeon Of distinc-
tion, under stress of personal affairs,
makes serious error in an operation
and his assistant, young surgeon,
assumes the blame and is allowed to
do so by the older man, but the truth
Is revealed by the surgical nurse, who
is in love with the young surgeon. The
central figure in Green Light" Is not,
however, either Of the surgeons, but
Dean Harcourt of the cathedral In q
large city, who, through his own men
tai and physical suffering when he
became q cripple on the threshold Of
his career. has developed spiritual
philosophy which works, not only for
himself but also for most of the hun
dreds of people who come to his
spiritual clinic for help. His view OF
life is of a long parade" moving not
in Q circle but slowly onward, with
each individual part of an era. The
ship Is more. important than any OF
the crew. Love is health: hate Is a
disease. For each participant in the
parade personal adequacy Is necessary
After long delays and many checks
and blocks, the signal will come to &c
ahead-the green light. Such is the
deans philosophy.
Under Dean Harcourt's influence
come all the chief characters OF
Green Light"-Dr. Endicott, the
older surgeon; DR.. Newell Paige, the
young surgeon; Phyllis Dexter, Sonis
Duouesne, Patricia Arlen, Prof. Nor
wood. As the dean Is very human and
Interested in the material as well a
the spiritual welfare Of his inner circle
indeed u Q good deal Of Q match.