|
|
Nicholiana Directory 06
Page 05
While we may admit advances and gains in certain isolated directions, the extra burden is felt in all directions of commerce and industry. And that extra burden is visible through finance--the increased cost of money, the scarcity of capital, the lower negotiability of securities, the greater uncertainty concerning the future. It is by means of the financial reaction that America, as a whole, has felt the adverse effects of this war. There is not a considerable village, much less a considerable city, not a merchant, not a captain of industry in the United States that has not so felt it. It is plainly evident that by the progressive dearness of money, the lower standard of living that will result in Europe, the effect on immigration, and other processes which I will touch upon at greater length later, any temporary stimulus which a trade here and there may receive will be more than offset by the difficulties due to financial as apart from industrial or commercial reactions.
Now, how has a society of individuals--the community within the frontiers of a nation--met this difficulty which now confronts the society of nations, the difficulty that is of the danger of the power of an individual or a group? They have met it by determining that no individual or group shall exercise physical power or predominance over others; that the community alone shall be predominant. How has that predominance been secured? By determining that any one member attacked shall be opposed by the whole weight of the community, (exercised, say, through the policeman.) If A flies at B's throat in the street with the evident intention of throttling him to death, the community, if it is efficient, immediately comes to the support of B.
|
