Foreigners are fond of calling us the land of paradoxes. Our public finances certainly justify that characterization. The richest country in the world has been the most dilatory in balancing its budget and appears the most distracted and embarrassed in attaining that end. The fundamental explanation, of course, is the systematically inculcated hostility to the taxation of wealth. For ten years the press has sedulously repeated the Mellon 'doctrine that the immunity of the rich from taxation is a blessing for the poor.

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American industry possesses the finest physical plant in the world, but our ability to get goods from it depends, of course, upon the skill with which we manage it. Never has this truth been more important than today when we are engaging in much reckless talk about the necessity of balancing the budget.

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IT IS CURIOUS to read today the writings of the American liberals in the days just before the depression. No matter how realistic they seemed to be, they all had a way of ending in bursts of language that left you blank. Consider, for example, the conclusion of Stuart Chase's pamphlet on "Waste and the Machine Age." Stuart Chase is perhaps the vividest writer of the liberal camp; he has an unusual knack of making statistics take shape as things and people.

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The opium of the people—The anti-religious campaign in Russia goes forward steadily, though its character has been much changed of late. As with the work of bringing the peasants into the collective farms, the government found that it had been going too fast and that the zeal of Communists in the villages had led them into undesirable excesses. The new principle is that no church is to be destroyed or put to other uses, unless a majority of the communicants desire it, whether this means leaving it open one year or ten.

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On Mystical Confusion

The many absurdities in which pure science has found itself, coupled with the many grave problems of social readjustment which applied science has bro

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AT THE END of the Hotel Carlton ballroom, with its sumptuous crimson curtains, painted beams and imitation Renaissance chandeliers. Senator Norris, his face pink from a strong lamp, is addressing the progressive conference in front of a dark expensive-looking tapestry and behind a shiny nickel-plated microphone.

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There is a victory beyond defeat which the victorious know nothing of. A bourne, a shore of refuge beyond the lost battles, the bronze names and the l

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MUCH THINKING on the nature and methods of our economic system has been stirred up by recent events. The spectacle of the most advanced industrial country in the world suddenly hurled from the heights of prosperity into depression was a shock even to the firm believers in the providential working of natural economic law. Most people have been aroused to a sense of humiliation at the sight of an economically sound country unable to use its resources and to direct its economic destinies.

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DO YOU in the United States think it a paradox that Englishmen can continue to increase their capital wealth by adding both to their foreign investments and to their equipment at home, that they can continue to live (most of them) much as usual and support at the same time a vast body of persons in idleness with a dole greater than the income of a man in full employment in most other parts of the world; and yet do all this with one quarter of their industrial plant closed down and one quarter of their industrial workers unemployed? It would not be merely a paradox, but an impossibility, if Bri

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