THOUGHTS FOR THE TIMES
The lioosH that Was. “Our time nliriiimls in <nilertive. anonymous, invisible powers, such as the Press, jiiihlic opinion, ami parties. Anna" tliese powers. which govern tlie world without knowing h, saving limit also play a. part. That invisible haml of the boulders. which now hold in their hands the fates of peoples and empires, is an important political power, thomrh a young one, ha vine conic to life only a hundred years ago. Finance is a game of collective psychology. like fashion, politics or joiiruaii.sm. All .States have gone too far in that matter of credit these last ten years. They have enormously and for a long time reduced the possibility of borrowing any more. The credit of them all lias lessened, and irreparably it seems. The facility of credit has been the goose with the golden egg of the European States for a century. But they have killed it through the war.”—O Ferrera, if! , [/Il)Uf»trf«tit»n,“
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Hokitika Guardian, 3 October 1924, Page 2
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160THOUGHTS FOR THE TIMES Hokitika Guardian, 3 October 1924, Page 2
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