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To: Ken Benes who wrote (31192)	4/5/1999 1:50:00 PM
From: Alex	Respond to of 116764

Today's Lesson From Only Yesterday (1931) by Frederick Lewis Allen On every side one heard the new wisdom sagely expressed. "Prosperity due for a decline? Why, man, we've scarcely started!" "Be a bull on America." "Never sell the United States short." "I tell you, some of these prices will look ridiculously low in another year or two." "Just watch that stock--it's going to five hundred." "The possibilities of that company are unlimited." "Never give up your position in a good stock." Everybody heard how many millions a man would have made if he had bought a hundred shares of General Motors in 1919 and held on. Everybody was reminded at some time or another that George F. Baker never sold anything. As for the menace of speculation, one was glibly assured that-- as Ex-Governor Stokes of New Jersey had proclaimed in an eloquent speech--Columbus, Washington, Franklin, and Edison had all been speculators. "The way to wealth," wrote John J. Raskob in an article in the Ladies Home Journal alluringly entitled "Everybody Ought to Be Rich," "is to get into the profit end of wealth production in this country," and he pointed out that if one saved but fifteen dollars a month and invested it in good common stocks, allowing the dividends and rights to accumulate, at the end of twenty years one would have at least eighty thousand dollars and an income from investments of at least four hundred dollars a month. It was all so easy. The gateway to fortune stood wide open. aci.net