What Mr. Babson Said

To the Editors of the CRIMSON:

In your account of Roger Babson's address before the Graduate Schools Society Monday evening, your reporter has taken too optimistic an attitude with regard to present business conditions as presented by Mr. Babson. It is true, Mr. Babson did give "ten reasons in support of his statement that the business outlook in the United States is favorable," which you rightly set forth in detail. However, in spite of these ten indications pointing toward prosperity, Mr. Babson believes that "the stage is set for a period of business depression" which will hit the retail dealer hardest of all. To prevent this depression a change of attitude is absolutely essential.

Mr. Babson maintains that business conditions are a result of man's attitude and of nations attitude toward life. This attitude of life which so largely controls business conditions, can be changed only "by conversion, or by a long process of education." Just as a thermometer does not regulate but only indicates the temperature of a room, the amount of heat depending upon having plenty of coal in the basement and upon the "attitude of the janitor," so the work of the statistician does not regulate but only indicates existing business conditions.

During the World War our country enjoyed great prosperity because every one was most active in producing. The United States is no longer a debtor nation, but at present is the richest nation in the world. Now there is a tendency to lay down on the job, "to get on the wagon and ride instead of all pulling steadily together." All are bent on getting all they can and by doing as little as possible."

Mr. Babson maintains that if we would prevent business depression, we "must get down to the fundamentals of life." There must be a fundamental change in the attitude of both individuals and nations, for "salvation lies in serving, producing, giving and developing to the fullest capacity." W. L. DOWLER 3G.

November 9, 1920.