Principles of Economic Security

Abstract

Except for life's adversities and the accompanying tests of human character symbolized by the economic depression through which we have been passing under the momentum of cumulative material progress, mankind would have been deprived of its chief sources of inspiration and its most effective stimuli to effort. It is against the dark background of unhappy experiences that both the individual and society can see more clearly their own errors and shortcomings; and until they see them, no attempt is deliberately made to correct them. I daresay that during the past year, while the sun of our accustomed prosperity has been hidden behind the shifting clouds, more serious thought has been given to such subjects as the one under examination than during all the preceding years of our national history. If, therefore, out of these superinduced considerations and discussions, plans shall be evolved and set in motion with a view of more nearly equalizing and perpetuating the opportunities of all people to earn and conserve their own protections against the visitations of economic and other misfortunes, the depression will have been justified as a distinct benefactor. I very much doubt that the brotherhood of man as a governing force in human relations could ever be fully realized without the aid of these occasions in life which involve common sacrifice, suffering, and mutual sympathy. Proof is abundant that we are nearer to that realization today in America than we have ever been before. In industry in particular the evidences are constantly multiplying that all of its human parts are becoming more closely drawn together not only by the ties of mutual interest, but by the advancing spirit of reciprocal understanding. Even during the past few months we have witnessed many impressive manifestations of this developing spirit of human interest in our Nation. I believe, more and more, those who have are thinking of those who have not, and I construe this as part of the fruit of the depression. If these things be true, there ought not to be any problems which an aroused American intelligence and interest cannot solve. But nothing is going to be more necessary in the successful accomplishment of the tasks ahead than the general application of the virtue of patience and Christian tolerance. Even as some of the finest values in life come