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Page 1 of 11916 · PDF PAGE 1
… of the principles of strategy. The real ruler or adviser of a nation should be a man entirely free from the expediencies of the passing day. The mischief wrought by failure to understand these facts is particularly obvious in finance. Politics, in some countries at least, is still looked after by men of broad general education; but finance is entirely in the hands of experts. Its terminology has been deliberately complicated; partly, no doubt, as in the case of law, with the idea of making it easier to hoodwink the layman; but the so-called ex…
1916 · PDF PAGE 2
… one who possesses these things can call for anything he likes in payment for them, and be sure of getting it. But the financiers of the day avoid all consideration of the enormous calamity threatened by the present situation. They are only excited by perfectly trivial and temporary events, such as small movements in the value of stocks. It never occurs to them that the most trifling shifts in the real economic situation may reduce the value of stocks to nothing a tall. The history of finance has always been the history of more or less desperat…
1916 · PDF PAGE 6
… conditions do change. But in all fundamental points humanity has not altered since the cave man. A friend of mine was arguing the other day about this very matter. Nowadays, said his opponent, if you want a girl, you cannot twist your knuckles in her hair, Club her, and drag her bleeding to your cave. No, said my friend, things have changed a great deal since the eighth of July! It is just this capacity for seeing everything sub specie aeternatitis which distinguishes the great artist or the great seer, even to a certain extent the gre…
1916 · PDF PAGE 13
…sea. It seems almost as if he grew physically much bigger. His personality fills the room. I have heard many of the great orators of the day, never one with one tithe of the passion and power of Mr. Stuart. Ben Tillett comes nearest. But Ben Tillett wastes his power in furious gesture. With Mr. Stuart the thunder of his tread and of his voice shake the house; but there is no loss of self-control. The speech is not diffuse, but extraordinarily concise and emphatic. The words rush out like molten steel from a converter under the blast. But each p…