The Main Purpose Of The

Nothing Did More To Spur The Boom In Stocks Than The Decision Made By The New York Federal Reserve Bank, In The Spring Of 1927, To Cut The Rediscount Rate. Benjamin Strong, Governor Of The Bank, Was Chief Advocate Of This Unwise Measure, Which Was Taken Largely At The Behest Of Montagu Norman Of The Bank Of England....at The Time Of The Banks Action I Warned Of Its Consequences....i Felt That Sooner Or Later The Market Had To Break.

Colleges Don't Teach Economics Properly. Unfortunately We Learn Little From The Experience Of The Past. An Economist Must Know, Besides His Subject, Ethics, Logic, Philosophy, The Humanities And Sociology, In Fact Everything That Is Part Of How We Live And React To One Another.

Financial Storm Definitely Passed.

The Art Of Living Lies Less In Eliminating Our Troubles Than In Growing With Them.

Approach Each New Problem Not With A View Of Finding What You Hope Will Be There, But To Get The Truth, The Realities That Must Be Grappled With. You May Not Like What You Find. In That Case You Are Entitled To Try To Change It. But Do Not Deceive Yourself As To What You Do Find To Be The Facts Of The Situation.