THE MICHIGAN DAILY SUNDAY,

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BOOKS


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JECA*ide, Michigan Graduate

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FROM THE

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Monopoly Problem

HOPWOOD
ROOM

BEx Libris
By JOSEPH GIES

ONOMIC PROBLEMS IN A
'HANGIN'G WORLD, Willard L.
horp and associates, Farrar and
inehart, Inc., New York City.
By CARL PETERSEN
he interest of this volume for local
ders derives both from the specific
blems with which it deals and from
fact that its editor is a University
duate and two of his associates are
the staff of the School of Busi-
s Administration.
rillard L. Thorp, '21, is-at present,
comic advisor 'of the Temporary
lonal Economic Committee, and
ial advisor on economic studies
he Department of Commerce. He
recently been much in the public
because of his connection with
TNEC anti-monopoly investiga-
in Washington. Much signifi-
ce therefore attaches to this book
an expression of the views of a
1 who is close to the Administra-
rof. Charles L. Jamison of the
ness administration school has

contributed two chapters on Business
Management and Competition. Prof.
O. W. Blackett also of the business
administration school has written a
chapter on "Foresight: The Business-
man Looks Ahead."
In the brief contribucons which
Mr. Thorp makes to the book, he re-
iterates the stand/on monopoly which
he took .in the anti-monopoly hear-
ings. He points out that present-day
monopoly problem is not one of
clear-cut monopoly. It is rather that
large enterprises have appeared "in
pairs, in trios, or even, as in oil-
refining, in a whole cluster" and com-
pletely dominate the field. This phe-
nomenon, Thorp points out, has cre-
ated a new type of economic structure
and changed the meaning of compe-
tition.
The problem now, Thorp says, is
largely one of how the various in-
terests can best be served without
destroying one another and eventu-
ally themselves-"one of adjustment
and balance and equity." The main-
tenance of balance in economic rela-

ill

Your

.1

C ollege
Days - -

Helen Finnegan Willson's novel
"The King Pin," which won a $1300
major award in last spring's Hop-
wood contest, will be published in
June by tl~e Macmillan Company.
Mrs. Willson's novel will be the
second manuscript winning a prize
in the 1938 contest to be published
this year. Vivian La Jeunesse Parsons'
"Lucien," has recently appeared.
tions is important, he says, because
of our increased dependence on one
another. Today all sections of the
:ountry are closely knit and every in-
dustry is dependent on other indus-
tries. But the machinery for direct-
ing all this activity permits serious
maladjustments to develop.
Thorp points out the possibilities of
fair competition, collective action and
centralized control as practiced in
various countries to remedy this mal-
adjustment. He emphasized that out
of the present 8sharpening conflict
of interests "must emerge new rules
and conventions, assuring the neces-
sary cooperation of a highly special-
ized productive mechanism; other-
wise the race of men, greatly reduced
in number, will have to return to the
meager productivity of simple agrar-
Ian economies."
Somethings must be done to read-
just our economic system, Thorp de-
clares. There is no assurance that
we can muddle through; the govern-
ment can spend additional millions;
we may not be able to stand another
depression; the instability of foreign
relations is a continuous threat. The
preservation of our basic institutions
depends upon a reasonably satis-
factory functioning of the economic
system;
These pages reveal that the business
man need not look upon Thorp as an
ogre who is out to get his profits and
turn them over to the "have-nots."
He has presented in the book an open-
minded examination of the evils of
the present system, yet displays a
skepticism of the unorthodox reforms
of recent years.
Batts And Emerson
Will Address Club
Dr. Martin Batts of the Depart-
ment of Orthopedic Surgery will
speak on "The Development of the
Primary Ossification Centers of the
Lumbar Spine and its Clinical Sig-
nificance-A Study of 200 Foetuses"
at 4:30 p.m. Tuesday during the
March meeting of the Anatomy Re-
search Club in Room 2501 East Medi-
cal Building.
Dr. Henry S. Emerson of the De-
partment of Anatomy will talk on
"Embryonic Induction in Regenerat-
ing Tissue." Both his and Dr. Batts'
papers will be illustrated with lan-
tern slides.
Tea will be served from 4 p.m. to
4:30 p.m. in Room 3502.

i

Through photography your college days can be
permanently recorded. Snapshots of dances,
picnics, hikes-all will be joyfully reminisced
by you in your later years. Take pictures every
day !
ENTER Francisco & Boyce's
PHOTOGRAPHIC CONTEST
Subject for the week beginning March 19th:
Interior View of the Legal Research Building

George Seldes' latest onslaught on
the press has been received by the
big newspaper reviewers just the way
everybody knew it would be. There
have been two techniques: (1) vitu-
peration, and (2) ignoration.
Lewis Gannett, in response to an
inquiry made in January as to why
he hadn't reviewed the book, said
that he had had it on his list for re-
view since November, but had been
just too busy to get around to it. He
hadn't quite decided whether to re-
view it still or not, it was so late, but
the inquiry, which came from a new-
ly-formed liberal book group, decided
him-he won't. Of course the fact
that the Herald-Tribune got a chap-
ter from Seldes for its unlabelled ad-
vertising section on Cuba last year
didn't have a thing to do with Mr.
Gannett's decision. Neither did the
fact that the book as a whole con-
stituted an attack on the entrenched
publishing oligarchy. Like-- it did-
n't.
Sterling North of the Chicago Daily
News gave the book a fair review. The
Boston Transcript also did. The rest
of the big press, without an excep-
tion as far as I know, either assaulted
it or left it out. Harry Hansen of the
New York World Telegram reviewed
it, but managed to avoid saying any-
thing at all about its contents.
Many papers refused advertising on
the book. The Herald-Trib rejected
the copy on an ad headed: "'Here's
Some Real News-But You May Nev-
er See It Iq the Columns of Any
Newspaper." It seems to have been
a case of the truth hurting.
There are plenty of books that the
big reviewers Just Don't Find Time
For. Pro-labor books frequently get
minor notices or none at all, even
when they're by distinguished au-
thors. But books attacking the press
itself never have a fighting chance.
It isn't necessarily a case of pre-
determined policy. But reactionary
papers have reactionary book editors,
just as they have reactionary editorial
writers. I'm on the lookout for books
by liberal and radical writers, be-
cause that's where my sympathies lie,
and I naturally think books like
Selde's are important. Correspond-
ingly, most big reviewers think and
act the reverse.
One of those big graphic books
which are so popular latelynalong
with the day-to-day accounts of
what's what in Europe was recently
given to me. It is called Our Coun-
try, Our People and Theirs, and is
written and edited by M. E. Tracy,
editor of Current Affairs. It con-
sists of a comparison, by statistics and
by summary, of the United States,
Germany, Italy and Russia in respect
to raw materials, productivity, na-
tional wealth and a few other things.
Naturally, it does not take much of
a statistician to prove that the United
States is far richer than any of the
others. From this Mr. Tracy leaps
to the conclusion that life in the
United States is better than it is in
Germany, Italy or Russia.
Now it seems to me that in order to
demonstrate the superiority of life in
the U.S., even in the strictly material
sense, it is necessary to prove that
the majority of people in this coun-
try are more secure economically than
the majority of Germans, Italians,
Russians. Even a higher living stand-
ard (and Mr. Tracy does not attempt
to prove that it is higher) would not
compensate for insecurity.
Russian Aid Sought
By France, England
(Continued from Page 1)

WORDSWORTH
His Later Letters Are
Edited By Professor
De Selincourt
THE LETTERS OF WILLIAM AND
DOROTHY WORDSWORTH. The
later years (1821-1850). Edited by
E. de Selincourt. Oxford Claren-
don Press. Three vols. Three
guineas.
By B. IFOR EVANS
(in The Manchester Guardian)
Professor de Selincourt in three
volumes, with over a thousand letters,
more than a half of thempreviously
unpublished, brings to completion his
great collection of the correspondence
of William and Dorothy Wordsworth. 1
When the present series opens Words
worth is already fifty; the early and
tumultuous days are over, wtih all
their exultation and self-laceration.
"The Prelude," in its first draft, has
been long completed, and "The
Excursion" has faced the public for
over six years. Before him lay thirty
long and difficult years, when verse
would be less effective and less fre-
quent.
These are the decades in which
Wordsworth opposed the Reform Bill,
attacked Catholic emancipation in
Ireland, and expressed grave sus-
picions of mechanics' institutes and
the education of the poor. Browning
found in this later Wordsworth his
portrait of the "Lost Leader," and
many radically minded men have
expressed their disgust at the way
that the poet had hardened into a
stern and unyielding Tory. Of course,
Browning on reading "The Prelude"
had already repented of his poem,
and after reading Professor de Selin-
court's volumes any just mind will
regret that Wordsworth was ever
exposed to the charge: either of
apostasy or dishonesty. Throughout
these letters there towers atgrim and
rugged rectitude, which ' stooped,
neither to public nor to patron. How-
ever unpopular Wordsworth's views
may be with some of his admirers,
they arise clearly from the unfettered
operations of his own intellect. He
was in danger, it is true, of seeing
everything from the isolation of
Ryda Mount, surrounded by a small
and possibly too acquiescent group of
devoted admirers. Had he seen more
of England in those years he might
have judged differently. At home at
Rydal Mount he fulminates against
the Irish Catholics, but when he visits
Ireland and sees a peasant woman
carrying her lame child to St. Kevin's
pool the generous human feelings of

II

the young poet stir in him again.
It wouid have affected you very
much to see this poor confiding
creature, and to hear the way she
expressed her faith in the good-
ness of God and St. Kevin. What
would one not give to see among

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of mind, purged of the accom-
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I




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~fA4~GIRDLE

Francisco
723 North University

&

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40

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foreign office of the demands and of
the rejection.
Rumania was understood to. have
asked Britain and France particular-
ly how far they were prepared to go
to protect her in any stand against
Germany.
The British and French ambassa-
dors to Berlin, who both are to come
home "to report" but are expected
to remain home for some time in dip-
lomatic rebuff to Germany, were in-
structed to deliver formal notes to the
German Government describing
"Germany's military action in
Czechoslovakia" as being "without
legal basis" and "a complete repu-
diation of the Munich agreement."

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