The Wilmington morning star., 1945-05-28
STARTLING ADVICE
GIVEN BY BABSON

BABSON PARK, Mass, May ~.
There can be no question about
it, we - in our day-have arrived
at one of the great crises Of his.
tory. The closest approach to
present-day conditions is probably
to be found in the Roman Empire
of Jesus time. There were many
differences, Of course, but also
some startling similarities.
AS. in the world we have known
wealth was then, in general, the
key to power. When the Roman
Empire broke up under the blows
OF barbarian invasions. civil wars,
political corruption, depressions
mutations, great wealth was de-
stroyed and ceased to be the key to
power. Power was seized by chief
tains-vigorous and dominating
who ruled by military might, but
pretended to protect their peoples.
Business fell into what We may
properly call a drastic permanent
depression.
This new way of life shook down
into the feudal system. In the feud-
al period, power was based on con-
troll of the land and the serfs who
worked it. And for centuries there
after real power was organized
around the hereditary, land-hold-
ing, aristocracies of Europe. There
continued to be an aristocracy, but
it was a very different one from
the prosperous Roman Days.
The discovery of America and
of silver and gold which flowed
from the mines Of Mexico and
Peru, plus the reopened trade with
the East Indies, upset this feudal
system. An economic and industrial
revolution. with its political coun-
terpart, the French Revolution,
followed. This undermined the pow
er of the landed aristocracy ev-
erywhere. Private n e rpr Sc,
private capital, industrial and me-
chanical achievement again OPEN
ed the field Of economic opportun-
ity to the individual Again the ac-
emulation of wealth became the
road to power. Our country grew
up and attained its outstanding
position in the world under this
system.
First formulated by Marx, Soc
ialist economy came to flowe. in
the Russian Revolution following
World War /. The essence of it is
the exchange of freedom for a
government promised social Sc
curity. Sad to say, too many peo-
pie in this country seem to prefer
an artificial, security even at the
cost of freedom.
This social revolution has al
ready engulfed most of Europe and
is hamme-ing at our gates, 1t has
already, under the title of the
New Deap', greatly modified our
economic system. The realities Of
power have already in large meas
ure, passed from the wealthy FAM
lilies and efficient industrialists in
to the hands of politicians, bur-
eaucrats and labor leaders.
Yet, the powerful New Deal
wave which started in 1882 is now
receding-although some Of the
new. controls will stick. Private en-
terprise and private capital are
to have another trial. The next few
years should be reasonably pros
porous in spite of the big national
debt. But if another depression
comes, then look out for trouble.
Money may then no longer be
the high road to power. The young
man who wants to get into the
struggle for power should perhaps
consider politics o. become a labor
leader. 1t will be well to have mill
tary experience. Those who seek
security first should become ex-
perts in some one line and depend
upon civil service. Small business
ventures may provide economic
freedom, but not too much secur-
ity. The failure rate is high. The
professions offer positions Of honor
and public service and the law is
a gateway into politics. Farming
offers perhaps the largest measure
of security and freedom combined,
but no financial reward. All Of
these,-even agriculture-now re-
quire specialized education.
Finally, I want to put in a strong
word for the reading Of history,
economics and philosophy,-or let
us call it frankly religion. I
recommend this not as means Of
making a living, but of Lying.
Such reading will give you a bet
ter understanding of what is 60
ing on in the world and ones
proper relation to God and man.
-V---