Wilshire Editorials Classic Reprint

Excerpt from Wilshire Editorials The contents of this volume consist almost exclusively of my editorials published within the past six years either in Wilshire's Magazine or in The Challenge, its predecessor. The burden of my song, as the reader will quickly gather, is that an industrial cataclysm is about to appear in the United States as the result of over-production. I predict this notwithstanding that to-day as I write we are in the fever of a greater industrial expansion than the country has ever before experienced. It seems impossible to supply demand. Factories are over-burdened with orders. Our mines of copper, lead, zinc, silver and iron are being worked day and night under the stimulus of tremendously high prices, and yet are unable to supply demand. However, my endeavor is to show that all this activity is ephemeral and temporary, that the great demand comes far more largely from consumption by the capitalists of goods for new capital expenditure than from any demand by the workers for necessities of life. Shortly, the great demand is for pig-iron, not pig-meat. The essential difference between the two demands, speak ing economically, is that the one will cease as soon as the new machinery is built, and that the other, based on human hun ger, can never cease. I find in the Trust the sign that the industrial demand for new machinery is coming to a close; the Trust is manifestly a necessary device of the capitalist to subdue the ill effects of over-production in being or in prospect. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.