Page:Walter Renton Ingalls - Current Economic Affairs (1924).pdf/158

144 quite so positive a way as represented. However, it is unnecessary to split any fine hairs, for the same reference to the work of Dr. King will disclose also that he made his statements upon the strength of very inadequate data, which will not withstand critical analysis. Dr. King, himself, will agree to this, for he informs me “that he is now in doubt as to whether the amount of wealth escaping probate is not so large as to cause a curve showing the distribution of estates probated to give a very erroneous impression concerning the distribution of wealth among decedents.”

We have here an instance of a great misconception, that may lead to grievous political consequences, being founded upon the unsupported statement of a single economist, made eight years ago when the data available were far less than what exist at present; a statement that is moreover based upon a method of computation whose very validity is challenged. It has been worth while to go into this explanation, even at the risk of being tedious, for if we are going to try to ascertain the truth it is desirable first to expose previous errors and misconceptions. This is moreover an excellent example of how unsupported statements are perpetuated, are incorporated and endorsed in governmental reports, and become accepted as facts without anybody stopping to consider whether they really are so, or not.