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And now that we have the inevitable aftermath; now that business men, farmers, all are seeking aid from the Government because of ruinously low prices; now that we see panic in Japan, moratoriums in Boston, Cuba asking and even getting countenance from our Government, that there may be resources to carry it through; business men on all sides seeking and getting extensions; men by the thousands losing their occupations, it is being asked: "How was it possible to predict accurately the inevitability of all this, in the foregoing pages, written at a time when everything was at the highest, and the public convinced that it was there to stay forever?"

It is regrettable, however, that credit cannot be accepted. The task was no more difficult than predicting that the sun will rise to-morrow. Even an elementary inquiry as to economic law at once establishes that all