“FROZEN ASSETS”

Rotorua Morning Post, Volume 1, Issue 169, 10 March 1932, Page 6

“FROZEN ASSETS”

liquidation needed ROTARY FOUNDER'S ADYICE TO DEPRESSION VICTIM& FEAR THE REAL ENEMY. In a special message to eommemorate the 27th anniversary of the foundation of Rotary, published in the Rotarian, Mr. Paul Harris, the founder of the movement and its president emeritus, makes a few observations on the present depression and its results which are worth reproducing. The sailing of a boat in fair weather is not the best test of seamanship; the maintenance of good cheer when everything is coming one's way is not the best test of disposition; the pursuit of an enemy who is on the run is not the best test of courage. Napoleon took slight interest in easy .conquests. To turn defeat into victory was the height of his ambition, and Jie ability to accomplish his purpose was what made him Napoleon. He possessed in superlative degree that aomething which we call courage. He xnew no fear. Courage wofks miracles, fear produce s paralysis. What marks the difference between yesterday and to-day? Yesterday was the day of miracles, to-day the day of paralysis; yesterday the day of indomitable, irrational courage, to-day the day of persistent and equally irrational fear. The economists tell us that there is more real wealth to-day than ever before. Postal and savings bank accumulations account for some of it, stocking and teakettle hoardings, also for an appreciable part. Man's Hereditary Enemy. Over-production is more imaginary than real. Where is there one whose wants are satisfied? He who has a small.automobile wants a larger one; he who has a 1931 model wants c:ie of 1932. As human dtsires are gratified they m,ultiply. If the rate of satisfaction increases by arithmetical

progression, the rate of desires increases by geometrical progression. The more one has the more one wants. He who has the least is frequently most nearly satisfied. The orgy of 1929 might have been continued ad infinitum so far as man's wants are concerned, but where's the .ise ? If human happiness is the highest objective, it was time to turn the switch ; it was turned, and the ching that turned it was mankini's hereditary enemy, fear — paralysing,

fear. There are things even, worse for he average man than economic para,ysis. The habit of worshiping ma-e diings is one of them. The pity of it is to be found in the fact that tne orunt of misfortune has to be suff wnd by innocent bystanders, the wives and children. Whv n the disease will have run its course, I do not know. 1 am not an eeonomist. Vv hat I do know is that it *s possible for you and for me to turn the whole business to good account, :f we will to do as Napoleon was wunt 10 do, turn defeat into victory. I : know men who are doing that very .;hing. They are not those were wire ,.east hit in 1929; they are those who were worst hit. One was put out of jusiness entirely, the result of froaen assets. R salised His Assets. I ltnew this man but slightly. 1 know him better now. In days of ^o-called3 prosperity, he lived within nimself and his business. Neither his vvife, son nor daughter was permitted ;o ent. r into his sanctum sanctorum. His house was his castle in very ;ruth. Had he lived in feudal days, ne would have surrounded his cartle with a moat. The drawbridge would have been up and the portcullis down.None could have gained admittance, except in the sacred name of business. The crash came," and down with it, his castle. His business partner took his own life; not so, he; in his veins was the blood of a Napoleon. He took Inventory of his frozen assets. With most of them there was nothing to do except to cast them out of the window; but he found others of astounding value. They had long been over.oolced, almost forgotten in the debauch of business. They were inccmpatible with the prevalent type of prosp.rity. During the early days of hardship they had real meaning. He, this man of iron, would thaw out, •iquefy those long overlooked, almost forgotten assets. He did so, and now nothing on earth could buy them. They are beyond price. Take a look at the list: neighbourliness, friendliness, sympathy, love. Place agai ist them whatever else you will — stocks. bonds — or what not. He lost his castlr-, but he found a home. This man knew how to turn defeat into victory, but it took adversity to bring him out. Prosperity never could have done it in a thousand years. To you and to me, if we please, the present crisis may prove to be the most profitable period of our entire lives. Let us take time to inventory our frozen assets — life's imperisliables, imponderabks.