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The Fundamental Ground for Optimism
Roger W. Babson sounds the most ennote yet heard on business conditions. In his latest statement, he says:
"Nations as well as individuals are ruled by emotions rather than by statistics. is the selfish attitude of the people of each nation toward other nations that causes world depression, war, and Similarly, unselfish attitudes between nations make for world prosperity and world peace. We have long been known in Europe that At last we have abandoned it. Under Mr. Hoover's statesmanlike direction we have shown the world that America can be generous. The world has responded. Whatever the technical difficulties of putting the plan into actual effect, in France, the great spiritual force behind the President's carry through successful There may be modifications: there may even delays; but France any other nation cannot afford to be put in the position of blocking the plan entirely, in view of the enthusiastic world opinion that has been aroused.
Mr. Babson has rarely proven a false prophet. In most instances his predictions have been accurate. Twelve from now we have no doubt business men will be recalling how faithfully Babson foretold the future of in the early summer of 1931, even as they recall how amazingly accurate his predictions in the past have Frankness Pays turned out to be. Officials of the Wilmington Savings If Babson is right this time, then the and Trust Company discovered an friends of Woodrow Wilson have additional cause for extolling the wisdom of leged shortage of $26,400 in the accounts his leadership. For Wilson did more to of the cashier. They made frank and hold the good will of the world statement of the situation. The cashier for America than any other American was arrested and this was the signal for who ever lived. run on the bank. Other banks in this If Babson is right this time, then we and other States either sent money or date our own business decline with signified their readiness to send it all its evils of unemployment, poverty necessary to meet the run. The run and untold suffering, from the that lasted for about three hours when con America deserted the principles enun- fidence was restored and demands for ciated by Wilson and began its "return deposits ceased. This happy sequel was to normaley.' For it was in that hour the result of the frankness of the banks that the United States sacrificed the in telling the public the exact truth friendship good will of the world. about the situation within its walls. If Babson is right, the fundamental Frankness always pays. cause of the unprecedented in American business during the last two years America's selfish policy of isolation. which was opposed to all that Carolina Comment Woodrow Wilson stood for during the eight years he was in the White House. THE CORRECTS If Babson is right, the slogan of the American people now, not only in polf- Even institution North Law ties but in business as well, should be the that the As "Back to Wilson." sembly for the the bill the budget One Hundred Less Teachers attention The and of The State will pay the salaries of The balance within 100 as many teachers as were its allowed by the State standard last year ings the two years the Gardner for the six months' term. This was the are like enough this week decision arrived at by the State Board the was provide the that that the of Equalization at its meeting Tuesday and The board could have reduced the num in the markets with either notes or ber of teachers by 400 by proceeding The misconception of the intent of the bill under a different section of the school the shall law than that which it chose to follow. down the made by the legis lature for the operation Last year the counties supplemented school The budget remain the State standard by employing 1,100 under the act required to effect extra teachers. It is obvious that the ordered the attitude of the counties will determine the legislature members But of any whether number of teachers employed accrue during the two years from next Tues last year will have work this year. The the duty the State Board of Equalization seems to The 1931 assembly merely cared the shortage.
