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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (April 3, 1929)
4 TH8 BATTALION THE BATTALION Published every Wednesday nisht by the Students’ Association of the Agrieultural and Mechanical College of Texas. Subscription price $1.76 per Year. ALL ADS RUN UNTIL ORDERED OUT Entered as second-class matter at the post office at Bryan, Texas, under the Act of Congress March 3rd., 1879. Member of National College Press Association All undergraduates in the College are eligible to try for a place on the Editorial Staff of this paper. Freshmen, Sophomores, and Juniors who are interested in journalism for its own sake, are urged to make themselves known to some member of the Staff. EDITORIAL STAFF E. L. ANDREWS . R. H. SHUFFLER . W. C. MORRIS ... H. C. GIVENS A. PAEZ J. M. HOLMES ... P. A. DRESSER ... F. W. THOMAS, JR. W. T. COLEMAN . . Editor-in-Chief Managing Editor Associate Editor Associate Editor Associate Editor Sports Editor Associate Sports Editor Assistant Sports Editor Literary Editor J. J. LOVING Exchange Editor H. W. TOEPPERWEIN Columnist L. W. JOHNSTON News Editor J. E. TEAGUE Associate News Editor J. M. GARCIA Assistant News Editor Y. B. GRIFFIS Assistant News Editor T. B. KETTERSON Assistant News Editor W. P. PATTON, JR. L. HANKS V. A. BUESCHER . BUSINESS STAFF Business Manager Assistant Business Manager Circulation Manager IS THERE A ROAD TO PLENTY i By—F. B. Clark, Ph. D. Head of Department of Economics. An interesting phenomenon is the fact that at different times the same doctrines develop spontaneously. Each time they appear with a new ness and a freshness as if they had not been previously expressed—even at times more forcefully. It will be hard to find a more accurate illus tration of this occurence than that of the writings of Foster and Catch- ings in their relation to previous ex ponents of the well-known under consumption theory of economic crises. Since all of their works do little more than clothe the same doctrine in different language, the following quotation from their book on “Prof its” will suffice to cover the thread of thought in any of their works: “Progress toward greated produc tion is retarded because consumer buying does not keep pace with pro duction. Consumer buying lags be hind for two reasons; first, because industry does not disburse to con sumers enough money to buy the goods produced; second, because con sumers, under the necessity of sav ing, cannot spend even as mucl money as they receive. There is not an even flow of money from produ cer to consumer, and from consume! back to producer. The Expansion of the volume of money does not fully make up the deficit, for mon is expanded mainly to facilitate the production of goods, and goods must be sold to consumers for more money than the expansion has provided. Furthermore, the savings of corpora tions and individuals are not used to purchase the goods already in the market, but to bring about the pro duction of more goods. Undes the established system, therefore, we make prog-ress only while we are filling the shelves with goods which must either remain on the shelves as stock in trade or be sold at a loss, and while we are building more in dustrial equipment than we can use. Inadequacy of consumer demand is, therefore, the main reason why we do not long continue to produce the wealth which natural resources, capi tal facilities, improvements in the arts, and self interest of employers and employees would otherwise en able us to produce. Chiefly because of the shortage of consumer demand, both capital and labor restrict out put, and nations engage in those struggles for outside markets iand spheres of commercial influence which are the chief causes of war.” Writing in the early years of the nineteenth century, Jean Charles Sismondi voiced almost identically the same setiment. This is seen by the following quotation from Gide and Rist’s “History of Economic Doctrines”: “The natural result is a want of harmony in the demand for products. With property uniformly divided and with an almost general increase in the revenue -there would result a certain degree of uniformity in the growth of demand. Those industries which supply our most essential and most general wants would experience a regular and not an erratic expan sion. But as a matter of fact at the ’ present time it is the revenue of the wealthy alone that increases. Hence there is a growing demand for the more refined objects in place of a regular demand for the ordinary things of life; a neglect of the more fundamental industries, and a de mand for the production of luxuries. If the latter do not multiply quickly enough then the foreigner will be called to satisfy the demand. What is the result of these incessant changes ? The old, neglected indus tries are obliged to dismiss their workmen, while the new industries can only develop slowly. During the interval the workmen who have suf fered dismissal are forced to reduce their consumption of ordinary goods, and permanent under-consumption, attended by a crisis immediately fol lows. ‘Owing to thhe concentration of wealth in the hands of a few pro prietors, the home market is con tracted and industry must seek other outlets for its products in foreign markets, where even more consider able revolutions are possible’.” (Gide (Continued on Page 8) t ! I t I I l 1 t I I i i t 1 I T i jr PALACE T “I r a.T" ALL TALKING PICTURE Ihe 1 error Matinee Prices 50 Cents. ALSO VI TAP HONE ACTS. Friday t Saturday QUEEN DOROTHY MACKAIL Children of Ritz AGGIELAJVD BARBER SHOP Try Us For Real Service Four Cadets Working: Way Through School. We Appre ciate any Part of Your Business. IF NOT SATISFIED—YOUR MONEY BACK Located in New Casey Bldg. R. W\ IVY, Prop. THE CAMPUS BARBER SHOP IN THE Y The Aggie’s Friend nr PROPRIETOR ^awiMateaBwiaas^iawiBcawsasiimiiBBaitoiiatwa’^aiiig^asfliataaaaiiiiHiiDCTimiiwcaiiwwiiKHWiMPMi i Drawing Material VICTOR AND BRUNSWICK TALKING MACHINES AND RECORDS R. C. A. AND ATWATER KENT Radios ROYAL, CORONA AND REMINGTON PORTABLE TYPEWRITERS HASWELL’S BOOK STORE % HaBiaB^gMg»gM«8iwwieareaiw»g3iw»ii^xiis;rj;mci«gr-Br^ast8iitwtsi^wBi{Ciigii«>ffliiaiWBaiiaowiwMiaE$ WE WANT YOU TO KNOW OUR SHOP AND THE KIND OF WORK WE DO— OUR PLACE IS CONVENIENT TOO. The Campus Cleaners & Tailors (OVER EXCHANGE STORE) (Operated by Fermer Students Ass’n. for Student Loan Fund.)