The Farmville herald and farmer-leader. (Farmville, Va.) 1934-1957, 1954-01-19
Babson Discusses
Not Pressimistie

MOI FIeSSlmISIlC
Babson Park, Mass. My daily
Bible reading recently was the
Forty first Chapter Of Genesis.
This tells the story Of Joseph and
the Seven Lean Years Of famine
following the Seven Fat Years of
prosperity This story especially
interests me because during the
past summer | had been reading
! 3reasted'S History OF Egypt. a
complete history Of the world S
| most enduring nation.
| Length of Cycles
The remarkable feature about
| Toseph'S business cycle is that the
| tory has continued ITO be told by
ord Of mouth. written by script,
| md finally printed, over a period
| Of about thirty-siX hundred years.
| Certainly. if these cycles had not
! continued from generation to gen.
Grafton this story Of Joseph's
cycle would have dropped from
| .he Hebrew history as so many
| other folklure stories did Rem
ember that for 1000 years this
| story passed only by word Of
mouth, for 1000 years it passed
only by hapdWritten script. and
only during the past 500 years
has it passed by printed type.
Naturally, the story interests
ne in view Of my fundamental
belief in Sir Isaac NeWton's Law
of Action and Reaction. Newton
published the Law in 1889 Most
scientists and economists have
recognized it from that day to
the present. In short, in the bust
ness realm this means that when
ever prosperity" becomes alb
normally nigh, either fundamen-
tai conditions must improve TO
Justify this high prosperity or
else there must follow depreS-
sion period approximately equal
in area TO compensate. The diff
Guilty with the Law is that no
way has yet been discovered to
forecast the length or area Of this
prosperity period We all know
that labor leaders, inStallment-
ielling and pressure groups. con-
not keep up their present tactics
orever. Trees do not grow to
he skies But how long they
an keep them up no one now
knows.
Great Events Ahead
There are factors which could
orolong the present era OF pros
oerity. One of these the spend
ng Of billions to protect our
large cities against enemy bombs
i have often forecast in this
'olumn. l believe my friend, Val
Peterson, the NATIONAL Civil De-
tense Administrator, will secure
the necessary appropriation which
could offset any decline in mill
AIRY expenditures. Another factor,
which businessmen should watch.
S the conflict between Great
britain and the United States re-
arding the opening up of China
nd Far Eastern trade I believe
hat the British will be successful
nd win their argument. They
Know far more about foreign
rade than we do and they have
much more at stake If China
and the Far East are opened to
trade. this could do much to
lengthen prosperity
! recently heard an interesting
ecture In advertising, showing its
'rowth and its improved pulling
Qualities, The best paid psychology
lists, statisticians. and artists are
employed today in getting people
to buy The magnificent color alb
lertlsing, which has recently come
nto development. may do for re-
all trade what the self starter
sid for the automobile industry
Sales campaigns. sales conven-
tons, and the training of sales
men haze been developed to a
point never known before The
possibilities of radio and television
Advertising are still in their in
fancy. TIE newspapers few days
ago reported that fifty million !
people watched television to hear |
LaRose itWhoever he may be- -
less than half that num- /
Der was the most. who ever heard
President Eisenhower! Lucky was /
the LaRosa sponsor.
Keep to the Middle of the Road
Great Events Ahead
These are times when every Y
businessman, in every community
should guard against being too
iogmatic and thinking he knows
lust what IS going to happen
The man who is q great optimist,
)r a great pesslmist, IS running
/ great risk. IT is well to keep