known as the "New Financiers," one heard frightened old-fashioned
statesmen asserting with passion that "dumping" didn't occur, or
that it was a very charming sort of thing to happen. Nobody would
face and handle the rather intricate truth of the business. The
whole effect upon the mind of a cool observer was of a covey of
unsubstantial jabbering minds drifting over a series of irrational
economic cataclysms, prices and employment tumbled about like towers
in an earthquake, and amidst the shifting masses were the common
work-people going on with their lives as well as they could,
suffering, perplexed, unorganized, and for anything but violent,
fruitless protests, impotent. You cannot hope now to understand
the infinite want of adjustment in the old order of things. At one
time there were people dying of actual starvation in India, while
men were burning unsalable wheat in America. It sounds like the
account of a particularly mad dream, does it not? It was a dream,
a dream from which no one on earth expected an awakening.

To us youngsters with the positiveness, the rationalism of youth,
it seemed that the strikes and lockouts, the overproduction and
misery could not possibly result simply from ignorance and want
of thought and feeling. We needed more dramatic factors than these
mental fogs, these mere atmospheric devils. We fled therefore to
that common refuge of the unhappy ignorant, a belief in callous
insensate plots--we called them "plots"--against the poor.

You can still see how we figured it in any museum by looking up
the caricatures of capital and labor that adorned the German and
American socialistic papers of the old time.