A HOPEFUL HISTORICAL PARALLEL.

Press, Volume LXVIII, Issue 20620, 9 August 1932, Page 15

A HOPEFUL HISTORICAL PARALLEL.

TO THE EDITOR O* TH3 PBESS. Sir,—l would like to express my views'on the present depression in an attempt to dispel some of the pessimism which in my opinion is "depressing the depression." It is common knowledge that history of this century from 191232 resembles very closely that of the corresponding period of last century. Id that period, following on the Napoleonic Wars, there was an inflation of prices generally, which reached its peak about 1820. Thereafter prices fell steadily until about 1832, when they touched bottom. That was approximately the time when signs were shown of an industrial revolution, and people began to look into the future with some hopefulness. My point is that we, at the present time, may bo on the verge of a social, economic, and industrial revolution, which will materially alter the scheme of things as we see them to-day, and give us a fresh outlook on life. It is impossiblo to predict what form such a revolution will take; but I think I am sate i in saying that it will not be brought | about directly by one man or by one- ' a-roup of administrators, but by th* whole world as a gradual process ot evolution. I think that the present depression is one of the best things that could have happened to the world as a whole, and the harder it imprints its lessons on the minds ot everyone, the better. Those boys there fore who are finding it so difficult to get a start in life, under present conditions, should look forward with hopefulness to the future and not be discouraged, but prepare themselves nomatter in what sphere of life to take their part when the opportunity offerto the Oamaru, August Bth, 1932.