Copyright Page
Copyright, 1931, 1932,
BY GARET GARRETT
_____
All rights reserved
Published June, 1932
PRINTED IN THE UNITED STATES OF AMERICA
Dedication
TO
G. H. L.
For his valiant doggedness and power in moving the American thesis
Author’s Note
Most of the matter in this book has appeared in the Saturday Evening Post during the last twelve months, though not exactly in the same form; and here the sequence is inverted, so that the view is from the present backward. Magazine articles that have been written to stand alone do not as a rule make a coherent whole for purposes of a book; on the other hand, pieces that were meant to be parts of a book may want that value of being current which a magazine article does like to possess.
A Bubblethat Broke The World
THAT BROKE THE WORLD
1. Cosmology of the Bubble
The Lord giveth increase, but man devised credit.
Mass delusions are not rare. They salt the human story. The hallucinatory types are well known; so also is the sudden variation called mania, generally localized, like the tulip mania in Holland many years ago or the common-stock mania of a recent time in Wall Street. But a delusion affecting the mentality of the entire world at one time was hitherto unknown. All our experience with it is original.
2. Anatomy of the Bubble
Who, then, is he who provides it all? Go and find him and you will have once more before you The Forgotten Man. . . . The Forgotten Man is delving away in patient industry, supporting his family, paying his taxes, casting his vote, supporting the church and the school, reading his newspaper, and cheering for the politician of his admiration, but he is the only one for whom there is no provision in the great scramble and the big divide.
—WILLIAM GRAHAM SUMNER
3. On Saving Europe (The Moratorium)
(THE MORATORIUM)
“A little debt makes a debtor, but a great one an enemy.”
—GNOMOLOGIA
4. The Rescue of Germany (The Great August Crisis)
(THE GREAT AUGUST CRISIS)
The war has lasted sixteen years.
German guilt was a lie.
The Treaty of Versailles is the great crime of modern history.
Reparations are tribute.
In 1917 America joined the Allies against Germany because then her money was on that side.
Among nations, the debtor is dear to the creditor.
5. Operating the Golden Goose (Post Moratorium)
(POST MORATORIUM)
6. The Gold Invention
Always, man pursueth himself with a broken law.
