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formerly; and they show no disposition to get out of the
 
way of their younger fellows.  The best authorities on
 
social statistics say that in 1970 the populations of all 
 
industrial countries will begin to decline, if present
 
influences continue; and there will be increasing numbers
 
of unemployed and of decrepit folk who pay doctors good
 
fees to keep them alive.
 
 
Finally, under modern individual and corporate
 
freedom, have built vast canal systems at a cost of
 
billions of the popular savings.  These canals were promptly
 
paralled by railroads which took away their traffic- 
 
witness the Erie and the Pennsylvania canal systems.  Then
 
the railroads were in large measure antiquated by motor 
 
cars, buses and trucks; and now the flying machine receives
 
vast governmental grants for taking the nails away from the 
 
railroads which also receive heavy subventions not to let
 
the flyers have their pouches.  Moreover, the railroads
 
focussed their traffic in a few great centres; they did this
 
contrary to popular opinion.  This increased the value of
 
urban land a hundredfold.  The effects of these and other
 
influences centered all great industry and world finance in
 
the same favored cities; and railway, bank and other dir-
 
ectors of the industrial age, masters of world centres,
 
assumed airs of ancient monarchs and raised sky scrapers
 
almost beyond normal vision, which a visit to New York will
 
amply reveal.  The result was the sale of something like a 
 
hundred billions of railway, industrial and skyscraper stock
 
to a misguided public- securities which had no substantial
 
basis of real property.  The earning power of the masses was
 
 
                                                  wholly