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ay be by the chase, at another by warfare, and again by the quiet arts of peace and comm

e, but it is of the utmost importance to determine whither we are going.

it should dominate the marts of trade, it has spread to every avenue of human endeavor, to our arts, our sciences and professions, our politics, our educational institutions and even into

so easy. The faults of commercialism, like many other faults, lie in the use we make of it. Before we decide upon a wholesale condemnation of

the mercantile marine which in the end will determine the destiny of nations. The advance of our own land has been due to our trade, and the comfort and happiness of our people are dependent on our general business conditions. It is only a figure of poetry that "wealth accumulates and men decay." Where wealth has accumulated, there the arts and sciences have flourished, there education has been diffused, and of contemplation liberty has been born. The progress of man has been measured by his commercial prosperity. I believe that these considerations are sufficient to justify our business enterprise and activity, but there are still deeper reasons. I have intended to i

success because that is the path, the process, to the development of character. We ought to demand economic justice, but most of all because it is justice. We must forever realize that material rewards are limited a

hung over business enterprise. While we continue to condemn, unsparingly, selfishness and greed and all trafficking in the natural rights of man, let us not forget to respect thrift and industry and enterprise. Let us look to the servi