Word: babsonic
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According to the chart worked out in Mr. Babson's office. American business prosperity started on its upward path in 1915, and reached its apex in 1920. The lowest point of depression will be reached in June of this year, and from then will begin a steady improvement, which will bring business back to the normal again in 1925. "In 1915," explained Mr. Babson, "we were due for a time of prosperity, but nothing like the immense growth we had. At present, however, I can see no hope for a big spurt in business...
...reply to a question as to what he thought of the condition of the European countries. Mr. Babson declared that he had felt all along that France would not collect from Germany because of the later country's poverty. The fact that France's prosperity seems to depend only on the sudden recovery of Germany, explains why we are not buying francs, Mr. Babson said...
Turning to the subject of trade with Russia, Mr. Babson expressed the opinion that the new Administration could be trusted to act wisely when dealing with this question, and that the United States had already come to a more advisable decision than that recently made by Lloyd George's government...
...fall of the old regime of Nicholas," said Mr. Babson, "and the subsequent advent to power of the most radical group, was in strict accordance with the Law of Action and Reaction; and the same law that made Russia radical will cause America to become one of the most conservative countries in the world. The events in Russia need not be feared, for Lenine is beginning to see for himself that the only way he can maintain his power is by protecting the people in the rewards of their individual efforts. This, too, is the only way production...
...Babson admitted that Russia was still under the control of a most radical government, and that this government was strengthened by the continued patriotism and idealism of the people. "But there is one kind of organization," he said, "that Lenine does not control, and over which his influence does not extend. This is the labor union, and, strange to say, labor unions may be the final means of making Lenine give up the principles of Bolshevism and work along sane lines...