June

William Henry Chamber/in 11 D. M. Westerho/m 18 Harold O. J. Brown 20 Richard T. Scott 26 Wellington Long 30 Clarence B. Carson 38 John C. Merrill 52 Melvin D. Barger 56 JUNE 1965 The Gold Problem . The Chance to Escape Musical Forced Feeding People Are Not Goldfish • Business Implications of the "New Morality" . Inequality - a Blessing! "People's Shares" in Volkswagen . The Flight from Reality 9. The New Reality . Danger to a Free Press . More Lessons of Lost Weekends . Books: Forgotten Prophet • Ludwig von Mises Donald Walter Shorock John Chamberlain 3 9 61 I OU'S'.NDI"CI"V."'AtI~ FDR COAST FEDERAL SAVERS FINANCIAL STRENGTH - Assets over half a billion dollars. Strong reserves and high ratio of cash and government bonds to assure with drawal of savings immediately on request. HIGHER EARNINGS - Current rate 4.95 % per year, compounded semi-annually. MAIN OFFICE 9th & Hill. Los Angeles SAVE·BY·MAIL - We pay postage.

MEMBER: Federal Savings and Loan Insurance Corp. Federal Home Loan Bank. IF IT'S SAFETY YOU WANT MOSTOPEN YOUR SAVINGS ACCOUNT AT COAST "A Businessman Looks at Communism Vs. Capitalism" For your courtesy copy of President Joe Crail's speech, write to: Coast Federal Savings Post Office Box 5150A Los Angeles 55, California 5-56A-l "", Dr. Mises explains how the gold standard makes the determination of money's purchasing power independ ent of the ambitions and machinations of political rulers and pressure groups. ............ p.3 "", Prison records would indicate that the will to be free diminishes from the moment freedom is lost p. 9 "" The departure from order, and har mony in so many areas of human affairs also may be noted, says this critic, in the raucous dissonance sand wiched into symphony concerts ............ p. 11 "", Life in a goldfish bowl is hardly the environment conducive to the growth and emergence of the best of which man is capable p. 18 VI' A minister sees in the "New Moral ity" the loss of integrity and character upon which the freedom of the market place and all other aspects of freedom depend p. 20 VI' The fact that we are unequal in our ambitions and abilities may be the difference to which we owe our lives ............ p. 26 V" An experienced reporter explains how the West German government managed to denationalize the Volks wagen industry and what difference it maikes to the people p. 30 "", The "New Reality," explains Dr.

Carson, insists that change is good, per se, that society, rather than the individual, is the living entity .....p. 38 "" A tolerance for differences of opin ion is the essential requirement for freedom of the press p. 52 V" Mel Barger draws from personal ob servation the conclusion that men of little faith and self-respect stand little chance to be free p. 56 "", John Chamberlain delights in a new paperbacked collection of for gotten essays by William Graham Sumner p. 61 Anyone wishing to communicate with authors may send first-class mail in care of THE FREEMAN for forwarding.

JUNE 1965 LEONARD E. READ PAUL L. POIROT Vol. 15, No. 6 President, Foundation for Economic Education Managing Editor THE FREEMAN is published monthly by the Foundation for Economic Education, Inc., a non political, nonprofit educational champion of private property, the free market, the profit and loss system, and limited government, founded in 1946, with offices at Irvington-on-H udson, New York. Any interested person may receive its publications for the asking. The costs of Foundation projects and services, in cluding THE FREEMAN, are met through volun tary donations. Total expenses average $12.00 a year per person on the mailing list. Donations are invited in any amount - $5.00 to $10,000 - as the means of maintaining and extending the Foundation's work. Copyright, 1965, The Foundation for Economic Education, Inc. Printed in U.S.A. Additional copies, postpaid, to one address: Single copy, 50 cents; 3 for $1.00; 25 or more, 20 cents each.

Permission is hereby granted to anyone to reprint any article in whole or in part, providing customary credit is given, except "The Flight from Reality." Any current article will be supplied in reprint form if there are enough inquiries to justify the cost of the printing.