Evening star., 1937-06-20
Woodson's Case History
of Gold
BY FREDERIC J. HASKIN.

iheH WHO zeal Win f1Rures, such as statiss
ticlans, bankers. and that ilk, are a cold.
olooded crew with few lighter spark.
emanating from them. The dullness Of
mathematics is conceded by all save
mathematicians. Yet the worlc has
known some notable exceptions to the
rule, il rule it be.
Take, for example. Omar Khayyam.
VINO dWelt at KhoraSsan in Persia q
Thousand years ago He was the first
mathematician of his age. He turned
down the easy life OF the court, which
was oHered him, to spend his time in
solitude in order to pursue the dull study
OF mathematics. He wrote deep works
on algebra and Euclid He worked out 4
revision OF the calendar which has been
ranked with the Gregorian revision. He
did accept the post Of astronomer royal,
out never became a courtier. He re-
manned chiefly in solitude, pursuing tho
more recondite geometric studies
10 be sure, according to his own evi.
oence. there must have been thou"
somewhere in the off1ng to help him con-
sumo his loaf of bread and his Jug OF
vine. Or maybe she was only tossed in
to make the rhyme come right. Some
thlng had to rhyme with bough But
one can visualize him. the great astron-
omer and mathematician, not wholly
alone in his wilderness. and see him,
between Euclidean propositions and SCI
entlf1c star-gazng, perfecting a random
rubai
A rubai is quatrain. in the Persian
tongue, and the "Rubaiyat of Omar
khayyam. means merely the ouatrains
OF Omar Khayyam-which. by the vay.
would probably have been little heard of
IN the Occldent, even after Edward Fitz-
gerald's translation. had not Lord Tennv-
son, who had been captivated by the
verse, given publicity to the work BY
dedicating a book of his own verse to
the memory of Fitzgerald. then dead.
Then we have such fellow as Charles
Dodgson. Among the DISTINGUISHED
mathemsticians of his time, he achieved
high honors in that realm. He was the
author OF such works as The Formulae
OF Plane Trigonometry" and An Ele-
mentary Treatise on Determinants." But
he also was the author of Alice in Won-
derland' and The Hunting of the
Shark" Also there is Stephen Leacock,
mathematician and economist of Can
ada. who has achieved fame in his dull
field. But he also has written some of
the best humor. The list could be con-
tinued.
1t can be continued right now by add.
ing the name of W. w. Woodson, presi.
dent Of the First National Bank of Waco,
Tex. Mr.. Woodson has spent a deal OF
his life in dealing with interest tables.
with intense economic and financial
problems, with all the dull round OF loans
and discounts. Yet he has managed to
turn his hand to satire OF half poetic
strain. In recent paper published by
the American Bankers Association and
sandwiched in between not only his own
remarks about the intricacies of the
banking problems of the day, but those
written by others, one finds a gem on
gold.
1t has been said, over and over
again, that no man understands money
and no man understands gold. That
statement can scarcely apply to Mr..
Woodson for he clearly understands gold
and others may understand something
about the recent vicissitudes OF the
precious metal in this country by reading
what he has to say. Says MI Woodson:
May I say word in sympathy for
Old Man Gold? He was once the proud
ruler of the worlds markets and ths
honest arbiter of international exchange.
During the depression he was summoned
to the Washington clinic. The great
physician of the White House called into
consultation number of brain special.
lists to help diagnose his case. It was
decided that Old Man Gold was suffer-
ing from bad circulation and paresis.
The first major operation performed on
Old Man Gold was to cut of his circu-
lation This operation not proving en-
tlrely successful the chief surgeon took
out his scalpel and removed about 40 per
cent Of his anatomy. OF course, this was
a dangerous operation and may cripple
the old man for life. He has been com.
pletely isolated and not permitted to
see any one except his doctors and
nurses All of his engagements have
been Cancelled and the Supreme Court
has held that he need not meet any OF
his obligations or contracts. The old
man possessed fine attractive person.
ality. I liked his company and always
felt poorer when We separated. His
dynasty began with the early dawn OF
civilization.
~
He was well known and highly re.
garded in the busy marts of the world.
No imperial potertate had more devotees,
no shrine more devoted worshippers. He
has been devotee OF the arts. He em-
bellished the marble palaces OF kings
and emperors and inscribed his name in
imperishable beauty upon the noblest
temples and cathedrals ever erected to
the glory of God or man. While the =.
rich and the mighty have bowed before
his scepter. he has often lifted the poor
from novels into palaces of luxury. Hs
has been the greatest stabiizer of cur
rencies and exchanges in the history OF
the world. Although he has been hon
ored by the mighty powers Of the world
he is now dishonored and friendless.
Many of the nations whose cities he
helped to build and whose royal Golfers
he filled have turned their backs upon
him. He came to us as a land OF free
dom and We imprisoned him. Learning
recently that he still possessed some
vitality, we have now sterilized him.
and sterllized, Old Man Gold
can certainly do us little harm"
Omar Khayyam's Rubaiyat has been
declared by some writer's closely to re.
semble Ecclesiastes in that his quatrains,
in fashion understandable and beauti-
full to all, yet teach clear lesson. It
might be said of Mr.. Woodson's apostro-
phe that he has made clear and inter.
esting an economic history which has
been considered reconcile matter.
r. ic dn,,hff,n hot hor ~.