The Guardian FRIDAY, MAY 8, 1931. NOTES AND COMMENTS AMERICAN OUTLOOK CHANGING

Ellesmere Guardian, Volume LII, Issue 37, 8 May 1931, Page 4

The Guardian

FRIDAY, MAY 8, 1931. NOTES AND COMMENTS AMERICAN OUTLOOK CHANGING

Printed at Leeston, Canterbury, New Zealand, on Tuesday and Friday afternoons.

"Under the pressure of depression, American psychology is undergoing real, if slow, transformation," says the Round Table. "The doctrine of individualism is losing its magic. The old free bucaneering days, in which every man fought for himself and the devil ruthlessly took the hindmost, are gone for ever. There is now a social consciousness developed, which is imposing all kinds of administrative limitations on unfettered competition. . . . Business itself is demanding the means of restricting cutthroat competition by regulating production to reasonable levels. Rationalisation itself is in need of rationalisation. In the face of a growing overseas trade the philosophy of high protection is being subjected to a critical re-examination. In a word, the old bottles will not hold the new wine of prosperity. An era of unexampled progress has been brought to a summary end. It was the final flourish of individualism and isolation. A,new period is now beginning in which prosperity will be gradually rebuilt, for the foundations are firm, but by methods based on the needs of the new world rather than the habits of the old."