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Show WE MUST PRESCRIBE FOR OURSELVES At the low point in a business depression a man whose personal affairs were in bad order wrote: "The big business leaders have made a horrible; mess of tiling's." It did not occur to the man to accuse himself and exclaim: ex-claim: "1 have made a horrible mess of things." He had had six years of uninterrupted prosperity in which to put his house in order. He might have utilized the cream from those fat years. He could have paid off the mortgage on his house, retired his business obligations and accumulated a surplus to tide him over hard times. If he had done these things, and if several million others had been as frugal, the crisis that later distressed everyone might not have occurred. Too many of us are disposed to blame "the system" when we are in difficulties. The system under which we operate is based on freedom of individual enterprise. Each of us is allowed a loose rein in the management of his affairs. We may save money or spend it. We may work or loaf. We may insure our lives or take a chance on leaving our families destitute. The government and public opinion exercise only moderate control. When everyone is happy and well-fed, we hear hurrahs and hosannas for the genius of our business leaders. Some of these leaders come to believe that they are really Napoleons Napol-eons of finance and industry. They become racular. The wise man, however, discounts such nonsense because he realizes that all men are human and that excessive ambition leads to Waterloo. Instead of relying on the wisdom of others, he puts his faith in his own common sense. If his earnings double and triple in good times, he takes the surplus and puts it where he knows it is safe. While others are borrowing money at the peak of prosperity, he is rapidly getting himself out of debt. How many have the courage and foresight and independent indepen-dent judgment to follow this obvious procedure? History reveals that such common sense is rare. Too many men pay in hard times the debts acquired in good times. It's no use relying on business leaders or government to save us from, the consequences of folly. Each of us must be his own physician. If we will diagnose our condition and prescribe the remedy promptly, we can enjoy permanent economic and financial health. News, Van Nuys, California. |
