Grave unemployment is, of course, universal. Credible estimates place the
number of unemployed in the United States at about 4,000,000, and Germany is relatively in as bad a case. The Rationalization of industry here is displacing labour right and left, but this inevitable first result of the elimination of waste in industrial affairs, tragic though_ it is, is distinctly preferable. to denying a place to scientific method in industry. If we tried to check scientific progress we should be no wiser than the proprietors of carriages and sedan chairs who appealed to the Government of their day to prohibit umbrellas. For our part we agree entirely with the Cabinet that it is much safer to conserve the capital which is required for normal industry than to exhaust the flow at its source by lavishly irrigating uneconomic schemes.
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