144 FLIGHT FROM THE CITY 



sponsible for the country's depression. So they estab- 

 lished national banks and a national currency. 



During the depression of 1907, they were told that 

 the lack of a central banking system was responsible 

 for the country's depressions. So they established the 

 Federal Reserve system. 



Today they are being told that the lack of balance 

 between production and consumption is responsible 

 for the country's depression, and that economic plan- 

 ning will end the country's depressions. 



During the last few years they have read endlessly 

 in books and magazines and newspapers about the 

 wonders of the Russian five-year plan. They have 

 been told that planning was not only the way out of 

 the depression, but also the way to security and a bet- 

 ter way of life. 



Once again they are pricking up their hopes. Once 

 again they are asking themselves whether at last the 

 doctors haven't found the one thing which will tame 

 the machine age and furnish the country the security 

 it has long been denied. But suppose they establish a 

 plan board for industry. Suppose America adopts a 

 five-year plan of her own. Suppose it tries out eco- 

 nomic planning. It has tried nearly everything else. 

 I have no doubt that it will try planning, too. 



And then it shall be once again disappointed. 



After all, the planning board will have to be com- 

 posed of human beings, and human beings are all too 

 human. They make mistakes. Even if the members of 

 the Supreme Economic Council, or whatever the 



