One brief announcement. I know you've got a lot of great books. I noticed the boxes of books out there. And they'll probably all be confiscated by the TSA at the airport. But as I was telling some of the students earlier, years ago, around the time of the collapse of the Soviet Union, the Cato Institute had a book of essays by libertarian scholars translated into Polish. And they smuggled them into Poland. And their hope was that the border guards would read them. And so when you go through the airport and the TSA takes all your books, it's a good thing. They are the border guards, after all. And you've got all these free books. But if you want 60 additional air miles on Southwest Airlines, you can buy my latest book. It's the Politically Incorrect Guide to Economics. The shipment just came in a couple of days ago. The release date is August 16. So this is sort of an underground distribution of my latest book there. My topic today has to do with the way Joe put it was progressivism and destructionism. And destructionism, how many of you have ever read something by Mises on destructionism? A couple of you.  And so what I'm going to do is I'm going to explain what he had to say about that, because I think it is prescient. It was prescient, as is so much of what Ludwig von Mises wrote in his writings. And I want to talk about what has happened since then, at least some aspects of what has happened since then, in terms of destructionism. Because that's what's going on right now in spades. Destructionist, socialist destructionism. And so if you read through these chapters at the end of the book, Socialism, today it seems quaint and almost trivial of what Mises was dealing with in his day. And he thought it was a big deal. But it's many orders of magnitude, a bigger deal. But a few choice quotes, hopefully these won't put you to sleep. He said, socialism is the spoiler of what thousands of years of civilization have created. It does not build, it destroys. For destruction is the essence of it. It produces nothing. It only consumes what the social order based on private ownership and the means of production has created. Each step leading towards socialism must exhaust itself in the destruction of what already exists. And when I reread that, I wrote a note in the margin of my notes here that said Venezuela. And it's sort of the latest example of this is when the socialists took over Venezuela. It seemed OK for a while, didn't it? If you remember reading anything about it, because they were eating up the capital, that Venezuela was one of the wealthiest countries in that part of the world for many years. They said to have more oil than Saudi Arabia, and they ruined it. It took a few years because they had what had been built up by earlier generations to live off of. But it didn't take long. It took a couple of years, and pretty soon you're reading stories about people who used to have good, well-paying upper middle class jobs rooting through garbage to look for food and killing animals and zoos for meat and things of that sort. And so that's what that reminded me of. Another thing that Macy said was, quote, Marx's disciples have faithfully imitated the master's example, reviling their opponents, but never attempting to refute them by argument. And that has always been a classic method of argumentation by most Marxists in my experience. Maybe there are probably some academic Marxists who don't behave like this.   What's her name? Whoopie, calling a turning point USA, the student group that's having a big convention this week, Nazis. She must have read von Macy's. I'm supposed to call them Nazis. And I don't know if you've all experienced that, but you probably have observed that. Then he talked about the literary tradition known as romanticism, not romance, romanticism. So romanticism is man's revolt against reason. The romantic has a grudge against reality because it is not like the dream world he has created. And in this dream world, he hates work. He hates economy, which I take to mean economics, and reason. And again, if you look at it, it reminded me of what he wrote later in his book, The Anti-Capitalistic Mentality, which I recommend everybody. It's online for free. They have it here at the Institute. And this is probably one of the ideas that went into it. And my notes in the margin for this or that, read that. And then in today's world, you can be a man today and a woman tomorrow.  And that, in itself, reminded me of the famous passage in the Communist Manifesto, like a paraphrase where Karl Marx and Engels said, once they eliminate the division of labor, you could be a farmer in the morning, a literary critic in the evening, a scientist in the afternoon. That's socialist man. And that seems to be what this detachment from worldly reality that the left has today. The world is going to end in 12 years, unless we adopt socialism, central planning, and do away with cars. We're told that there is a Hitler or a Ku Klux Klan guy hiding behind every tree in America, white supremacy, all these fantasies that the left has come up with. And Mises called that the plague of romanticism in his day. Another thing he said was, all social literature as a thesis to demonstrate, it is ever the same thesis. Capitalism is an evil. Socialism is salvation. And I'm going to talk about that more tomorrow, one of my talks. Literary socialism is an open avowal of destructionism. He said literary socialism. And so that was certainly, it was true in his day. And you can imagine, that was 1922 when he wrote that. And it has all been proven true over and over again since then. Tom Woods used to say that no good capitalist deed ever goes unpunished. Walmart has created and starts selling groceries 35%, 40% cheaper than the unionized grocery stores. They're attacked and vilified for 20 years for that. And so on and on. And that was Tom's way of expressing this same point. One more, the beginning and end of the socialist policy is destruction. Social art preaches it. Schools teach it. The churches disseminate it. So Mises is pretty gloomy in 1922, as you can see. Now, the examples he gave in these chapters were labor legislation of his day. This was 1922. In the US, we didn't get the minimum wage law until the 30s. And we didn't get really a lot of the laws that empowered labor unions vis-a-vis non-union labor until the 30s also. But he's probably talking about Germany. Germany had a head start in the welfare state. It was Otto von Bismarck who started the German welfare state in the late 19th century. Social insurance, well, he saw talking about early versions of welfare. Union legislation, well, we later had that in the United States that had empowered unions in the late 1930s, especially. Unemployment insurance, and he writes about the moral hazard effect of unemployment insurance. If the government pays you to not work, guess what? People are going to not work so much. And of course, we've all learned that, haven't we, since the COVID business started. You still see signs everywhere, help wanted everywhere, because of that. Nationalization, taxation, and inflation. So those were Misi's main things that he wrote about, pretty briefly, as the essential tools of destruction. And so to try to update that a little bit, one of the things I looked at is, if you go and get the government's own statistics from the United States government anyway, and total government spending as a percentage of national income. How much of our income goes to government spending? And at the end of the decade, in which Misi's published his book, 1929, it was about, you would come up with 7%. And these are the government statistics. And talk to Sean Rittenauer, by the way. Sean, as a young man, I think it's still a college student at an internship at the U.S. Department of Labor. And he used to give a great talk here about the absurdity and ridiculous nature of data gathering at the U.S. Department of Labor. So if you're interested in that, I was one of my favorite Sean Rittenauer talks that I can remember. But 7%. And if you look up the exact same statistic today, government spending as a percentage of national income, you get 45%. And so, and that would tell you that the economy is at least about 50% socialist just on that major alone. Not even considering the effects of government regulation and control of every business in America, as far as that goes. And I recommend a publication. How many of you are familiar with this publication called 10,000 Commandments by the Competitive Enterprise Institute? Nobody? That's good. So that's good because I'm now informing you. If you look up, it's called 10,000 Commandments published by the Competitive Enterprise Institute every year. And it's a big policy nerd publication, but it gives you an idea of how pervasive government regulation is. Now none of this existed when Mises wrote Socialism in 1922. Even the federal government regulatory agencies of the time in the United States consisted of the Interstate Commerce Commission, the Federal Trade Commission, the Food and Drug Administration was brand new, and they weren't doing much. And so this was the dawn of the regulatory age when he wrote this. But if you look up, here's some, I'll mention a few things that are mentioned in this publication, 10,000 Commandments. There's a publication called the Federal Register that lists all the government regular federal regulations of business, of your home, of life in general, not just business. There are about 44,000 pages of small print of the federal government alone regulating your life. In a recent year, Congress passed 97 new laws in one year, but 3,281 new regulatory rules. So they passed 34 of regulatory rules for every law that they passed. And when I lived in Maryland at the end of every legislative session, I would read that they would just brag to the treetops that they had passed between 250 and 300 new laws that year, just the Maryland legislature. And so, and I'm sure Maryland is not unique in that regard in passing several hundred new laws of all kinds. Now, some of them are not too onerous. They're like Hot Dog Day in Maryland or something like that. Let's celebrate hot dogs. But then they had a law some years ago that instituted a rain tax. And they said that when you know these big commercial buildings, when it rains, the rain falls off the asphalt roof and it goes into the sewer system and ends up in the Chesapeake Bay. So that's a negative externality. So we should tax this negative externality. We're gonna tax the rain. And so they started measuring the area of the roofs of buildings and then sending tax bills out based on how big the roof was on your building. And if they had carried that out long enough, I imagine that the construction industry would start building sort of slim tall buildings. You know, that's what I'm gonna do. But that's the one instance I can remember living in that part and that up there for 25 years that the Chamber of Commerce actually did something that was useful and they actually rallied the troops and got rid of the rain tax because it was so ridiculous. Because you had some guy who owned a pizza joint getting a bill for $30,000 all of a sudden, the rain tax bill. And so that's what put the fire under the butt of the small business community in Maryland and that sort of thing. And so don't forget the state of local governments regulate a lot too. Larry Kudlow who's on the Fox Business Channel, he's been talking recently, he's, I only watch him and Tucker Carlson as I want to see what Fox is up to. Can't really stomach the rest of them. But he's coined the phrase regulatory socialism to describe all of this, regulatory socialism. And there's a lot of truth to that. I would call it fascism. Our friend Bob Higgs many years ago said, our system, our economic system in the US, he called it participatory fascism. Now fascism from an economic perspective was private enterprise was permitted, but it was very heavily regulated, controlled by the state. So there was sort of de facto socialism and it was heavily bailed out by the state in Italy and Germany. You know, bail out kind of like the 2008, 2009 bailouts. That was, I remember blogging that at the time with a big long quote from a book on fascism of how they did this in Italy, bailing out because these were, they considered them to be their industries if the state did. And although the proprietors were allowed to earn some profits, they allowed a little bit of profit and incentive to exist in there because they had to produce all those guns and airplanes and tanks and so, somehow. And so I would just call it old fashioned socialism, but Kudlow calls it regulatory, regulatory or fascism rather. He calls it regulatory socialism. Now, one of the lessons from Von Mises about this, about regulation is one of the effects of that is every minute every business person has to spend complying with government regulation is a minute or an hour that he or she is not spending, producing better products, figuring out how to cut their costs, prices, marketing the products and so forth. So that's the opportunity cost of this. And every time I, when I used to lecture this, I used to give examples of a friend of mine in Baltimore who ran several, who owned several print shops, Curry printing is the franchise. And she told me that she would spend at least 50% of every workday just complying with government regulations because the printing business with all the printing and the chemicals and everything is very heavily regulated by the EPA and the state EPA and everything else.  She's told me for, because of all the regulation. And so then it's like I said, this didn't, this barely existed when Misi's wrote this. Another thing that has happened is we've had what I call the watermelon revolution, which I'm gonna talk about in more detail tomorrow. A watermelon is of course green on the outside, but red on the inside. And so the environmentalist revolution. And I don't wanna steal my own thunder, but one thing I'll point you to is there's an article sort of famous in our circles by Robert Heilbrunner. Anybody here who has heard of Robert Heilbrunner? Raise your hand if you have. Well that's great. That's great that only Lou and me have heard. That's great that you have it. But he wrote this book called The Worldly Philosophers. And if you were a college student from the late 60s to through the 80s, and you took principles of economics, chances are you were forced to read the worldly philosophers. It was mostly the biggest statists in the economics profession. He didn't even have an entry from Milton Friedman, for goodness sake. And let alone Ludwig von Mises. And so that's what we were supposed to learn about the history of economic thought from Robert Heilbrunner. He was a lifelong socialist, but after the collapse of socialism around the world, he wrote this essay in the New Yorker magazine, September 10th, 1990, called After Communism. And he was a mea culpa. He said Mises was right all along. He got it wrong. He got the reasons why Mises was right. But he said Mises was right. He said the great debate between capitalism and socialism is over. This socialism collapsed everywhere. And look how wealthy and affluent the capitalist countries are. But then at the end, he says, but don't despair. He's preaching to his fellow socialist. He says we can make a comeback. Those aren't his words. Those are my words. But in the comeback can be in the form of environmentalism. He said this, socialism must emerge if humanity is to deal with the ecological crisis. Socialism must emerge. And he wrote this in 1990 at a time when the Soviet Union and Eastern Europe had just imploded. And journalists and others, for the first time in decades, were able to go and take a look around the socialist world. And what they found was in an environmental, I'll call it a hill hole. I won't call it what it really was. But the environmental problems were many orders of magnitude worse than anything ever seen in this country. There's a book about it called Ecoside in the USSR. It's one book. A political scientist named Marshall Goldman wrote a book in the 70s. And he somehow got information probably from the CIA about how else would you get information about behind the iron curtain in the 1970s. And he wrote this book about environmental issues. But he turned out to be right on the money in terms of the environmental degradation under socialism because nobody owned anything. The state claimed ownership of everything. And so there's little incentive to take care of the environment if there's no property ownership, no liability law that was enforced. And so the governments of these countries just polluted at will because they wanted to compete with America. And in industry, they went to prove socialism was the way to go. And that didn't exist in Misi's time either. And that's all I'm going to say about that, that has to be added. Now, the Hayek redefined socialism in I think the 1976 edition of the Road to Serfdom, where he said socialism, the government ownership of the means of production, that's socialism. But it's also, he redefined it to include the institutions of the welfare state and income taxation and the redistributive nature of income taxation. And of course, I would add also Kudlow's regulatory socialism, if you want to know what socialism is. That's fascism, after all, was a form of socialism. The word Nazi was a national German socialist workers party. OK. And so those things also need to be added to the template that Misi's put together in his book, Socialism. And then, and I'm going to talk more about this and other thing, I'm going to talk more about tomorrow, cultural Marxism, with this relentless attacks on Christianity, the family, Western civilization in general. That didn't exist in 1922 either. That came about mostly in the 1940s by some disgruntled Marxists, European Marxists, who were disgruntled that the working class did not embrace communism. And so they blamed Christianity. They said the working class was too attached to Christianity. And if you think God is your savior, then well, Joe Biden cannot be your savior.  So we've got to do something about that. We've got to get rid of Christianity. The family, if you're attached to your family, well, that's a problem, because your parents could teach you morals. And we can't have, as Joe Biden said a couple of weeks ago, when he said, when your kids are into public schools, they belong to us. They don't belong to you. And that could have been one of the early 20th century communists saying the exact same thing. And that's where the so-called cultural Marxists of the so-called Frankfurt School. And by the way, originally they had this institute in Germany. They originally called it the Institute for Marxism. But then someone must have said, now wait a minute, Stalin has killed tens of millions of people.  So they called it the Institute for Social Research. Who could be against? Who could criticize social research? And that's the science. They're all about the science, social science. And then a Western civilization, the rule of law, constitutionalism, and so forth. Well, that stood in the way of Marxism. So these are things that they decided all had to be destroyed. And like I said, I'm going to talk in more detail about that tomorrow, of how they've done about that. And that's what we're seeing today. And Mises will not, of course, be surprised at what happened to American universities, which even in his time in human action, he called tax funded universities nurseries for socialism. Nurseries for socialism. And I quote him a bit in the final chapter of my new book. Remember, 60 air miles on Southwest Airlines. If you buy this book before you leave, you can qualify for the competition anyway. And in human action, here's some of the things that Mises said about the university system. That tax-supported universities are under the sway, always under the sway of the party in power. The authorities try to appoint only professors who are ready to advance the ideas of which they improve themselves. That was true in his day. We see it today. We see it today. And again, orders of magnitude more. I'll give you one anecdote about this. This was around 1990. And I was at the University of Tennessee. And there was a young libertarian historian who had just earned his PhD in history from a prestigious university. And he had great credentials. He sent me his resume because he saw that there was a job opening in the history department at my university. I wasn't in the history department. I was in economics, but I was in my history. And he sent this to me. And he's asking me if I had any suggestions to help him get a job there. And he sent me a second resume. And he says, this is my political resume. And he had been associated with young Americans for freedom or some conservative groups. And he said, for God's sake, don't let them see my other resume. Only show them my academic resume. And then this particular person took him, I believe, seven years to get a decent job. He bounced around. He had a few gigs at a community college. And he worked for one of the libertarian foundations for a while. And he had Ivy League credentials. And so, and Misi saw all this. He said, all the non-socialist governments, Misi's were non-socialists, were firmly committed to government interventionism and appointed only interventionists as professors. The first duty of the university was therefore to sell the official social philosophy to the rising generation. And as such, they had no use for economists. But then he also says, he sort of gives some students a pat on the back. He says, the majority of the students espoused without any inhibitions the interventionist panacea is recommended by the professors. But there was always a remnant. He talks about there's always a remnant. And as you are the remnant, the people like you are the remnant that we rely on to quit spouting these things, I retired from my university job a couple years ago, which was a good thing for me. It became so intolerable, the political correctness and the absurdities. And it was just the fantasy world that I quoted Misi's saying that left his like to live in.  And I always marveled over the past 10 or 15 years where I had so many students who just could not understand supply and demand, opportunity costs, marginal. They just couldn't get it. It didn't compute. But boy, they could stand up and give you a two hour lecture about recycling, like that, or whatever, the latest left-wing fact. Because they had been drilled into their heads since preschool. And these are 19, 20-year-old, 21-year-old students. And so you drill something into somebody's head repeated enough times over 15 years, and some of it will catch on. But I always had a remnant, too. I always had a remnant, too. Like the one student that I sent here, it came to Misi's University. He was a senior economics major taking my American Economic History class. And he told me he had taken all the classes in monetary theory, money in banking, principles of macro, intermediate macro, even had mathematical macro. And he told me I had no idea. There were criticisms of the Fed. This is the first time I've ever heard of criticism. True story, absolutely true story. And he came here and attended Misi's University and got an overload of what he missed out on during his college education. Another student from Misi years ago, Misi University, went to my alma mater, Virginia Tech.  And she said she was about to graduate with a degree in economics. And all she had learned was game theory. And she said, I thought, before I graduated, my fellow students and I should learn something about economics. So I came to Misi's University. And so Misi was talking about this in 1922. How many of you are familiar with the capture theory of regulation? That ring the bell. Well, that's good again, because most of you aren't. The capture theory of regulation is sort of associated with the Chicago School of Economics. And basically, there was a big body of research that looked at the origins of regulation. A classic example was the Interstate Commerce Commission in the United States was created to regulate the railroads in 1887. And the first head of the Interstate Commerce Commission was a railroad industry president. Now, the theory that you're taught in school is that the market had failed. And therefore, the government created this regulatory agency to act in the public interest to protect consumers from monopoly or something like that. But the first person the government put in charge of running this was a railroad company president. And so they regulated it for the railroads. And the first thing they did, there was controversy over people like John D. Rockefeller were given quantity discounts. Because if you're shipping a half a million barrels of oil a year, we're going to give you a good price compared to the guy who's shipping 1,000 barrels a year from his tiny little oil well somewhere. And so the smaller companies didn't like that. It was unfair that the Rockefellers of the world were getting a discount. So the first thing the ICC did was to outlaw discounts so that nobody gets a discount. And it went on from there. And they ended up regulating trucking afterwards. And so the phrase regulation for the regulated became popular among the Chicago School. Same thing happened with the airlines. There were more commercial airlines in the United States in 1922 than there were in 1972. And because the Civil Aeronautics Board was regulated for the benefit of the airline industries, and they basically ran it as a cartel. So that's the capture theory of regulation. Now, I call it the immaculate conception theory of regulation because the story that they still tell the Chicago School is that it was all nice at the beginning. It was all angelic that they had good intentions. They wanted to serve the public interest. But then they were captured. They were surrounded and captured. But the reality of it is, in most of these instances, it was the industries itself that lobbied for and got these agencies to be created. It wasn't enlightened public spirited politicians that created these things. It was politicians who had been bribed by corporations to start these things. And Butler Schaefer wrote a good book about this. And so did Gabriel Colco. If you're interested in this sort of thing, there are these two outliers on regulation. Butler Schaefer was the late Butler Schaefer. He was an old friend of ours. He lectured here many times. Friend of the Lemisi Institute. But if you want to look up books on that. Now, the reason I bring this up is this course all happened mostly after Misi's Day. Not all. The ICC existed in the US during his day. But I bring this up because in today's world, we have entire governments being captured by political forces that want to impose socialism. The World Economic Forum brags that its people now run the governments of Canada, New Zealand, Australia, France, and other governments. I think Lou Rockwell calls the President of France a macaroon. Is he calling him President Macaroon? His name is Macron, I like Macaroon better. And the tyrant in Canada. And they all come from this training program of the World Economic Forum in Davos with their famous meetings at Davos, Switzerland. And so these people, in my view, have captured entire governments. They haven't just captured individual government agencies. They've captured entire governments, Canada, France, and Australia, and others. And even I was shocked at how totalitarian Australia all of a sudden became during the COVID business. And they had to have had this game plan all ready to go when this happened because it was so fast. And being one of the worst countries in the world. So that's another thing that I would add here. Now, the next point I would make about destructionism is if you consider this in a bit of a historical perspective, when World War I occurred, the international division of labor was severely shrunken. World War, you know, international commerce stopped when World War I occurred, okay? And then we had the smooth Holly tariff in 1929, 1930 that instigated international trade war that shrunk world trade by two thirds in three years. Just that. And then we had the Great Depression, which again, pretty much closed down world trade. Then World War II comes, and World War II. Then the Cold War, all the Cold War years and a huge part of the planet was disengaged from the international division of labor, from capitalism. And so for 80 years, we had this big impairment of capitalism because of all the war, socialism, government interventionism, tariff wars and so forth that's shut down, locked down, a big part of the global, all of China, all of the Russian empire and so forth. And it finally opened up a bit with the worldwide collapse of socialism, okay? And the point I wanna make here is that the forces of evil today have figured out how to do this without all those wars and socialism and nationalized industries and international tariff wars.  They literally locked down the world economy for a pretty long period of time and they achieved a destruction of the international division of labor for a time anyway without going through all the rhythm roll of wars and all the other stuff that occurred during the 20th century. And we even have the researchers at the University of East Anglia, which is one of the hot beds of global warming hysteria always has been for decades anyway, saying, well, we should do this every other year, just as a matter of course, just lock down the entire world economy, just tell everybody stop, you know? And just for general purposes. And that's what they're working on today in the United States with the attacks on energy. So they did it without a world war. Another thing that happened that the progressives have blessed us with, there's something that came about in the 60s in the political science literature that was known as the Cloward-Piven strategy. I call it the Cloward-Piven Obama strategy. And Cloward and Piven were two political science professors. They were leftists. And basically their strategy, their plan was at a plot, was a mass expansion of welfare accompanied with vote fraud in order to achieve this, the mass expansion of welfare, open borders to put even more people on welfare. And their writings said, if we did this mass expansion of welfare, and massive enrollment of voting of legal and illegal aliens, it doesn't matter, open borders, then we'll basically bankrupt the government. And so many people will become destitute. They will have to have a guaranteed annual income. The government will have to just print up enough money to put most of the population in their view. The ideal would be all of the population on guaranteed government income, which was basically totalitarian communism, isn't it? In the Soviet Union, everybody worked for the government and they paid you whatever they thought would keep you alive. When I used to teach a lecture on the theory of subsistence wages, Marxist theory of subsistence wages, and I would have my students read what Mises had to say about that. And of course, the only real examples of that in history in the last couple hundred years were socialism in the Soviet Union elsewhere, that's where they gave people subsistence wages to live on, not capitalism. So once again, Marx had it all backwards as far as that. So that strategy came about in the 1960s, and they've been pretty successful with it. It began with the Motor Voter Act of 1993, where it made it much easier to register to vote. And the welfare state has had that effect. It has sort of degraded generations of lower income people of all races and forced them into pretty bad conditions. I've written years ago, I wrote about this group called Acorn. How many of you have ever heard of Acorn? More than have heard of some of the other academic literature, I mentioned it like, Association of Community Organizations for Reform Now, that's the acronym is Acorn. I read that they've gone out of business, but they were in business when Barack Obama graduated from Harvard Law School, he went right to Acorn. That was when, could you imagine somebody saying, I'm gonna go through the ordeal of getting a law degree from Harvard so I can work at Acorn. And then voter registration, okay, which was, the Acorn style of voter registration is what you saw in the 2020 presidential election. That's what Obama was famous for. I don't know if the students here remember when Obama first ran for president, his claim to fame of what he was, what a professionally was community organizer, working for Acorn, he was their lawyer. Another thing Acorn was known for was a bit of an extortion racket and that they would go to banks and accuse them of not making enough loans to minorities, whether there's any truth to it or not.  And then we'll also make some bad loans to unqualified minority borrowers at the same time, but then us Acorn, we'll get 10 million, 20 million. There was one knockoff organization in Boston that got a billion dollars from banks. And believe it or not, the head of it was a guy named Marks, M-A-R-K-S, not all the next, his name was Marks. And his organization was sort of an Acorn clone and it was in the Wall Street Journal. He got over a billion dollars in this way for this organization. And so that, and they went a long way toward creating this subprime crisis of 2008 because that was part of the political impetus for all these loans. My next door neighbor at the time was a mortgage broker and I played golf with him and he was just bragging through the tree tops but all the money he was making on no-dock loans. And so I, of course, the naive me said, what's a no-dock loan? And there was, of course, to certain customers, you don't need a W-2 form, you don't need a tax return or any documents at all. He said the government just said for these people, just show that they've signed up for credit counseling and that's good enough. And he gave him a $300,000 home loan, no-dock loans. And so it was just turn the crank and take those fees and collect those fees for the mortgage loans. And so one final thing I'll mention, and this is not Macy's, this Hayek wrote in his book, The Constitution of Liberty, that there's a whole chapter arguing why socialists have always attacked the whole idea of individual responsibility and there's a whole chapter in the Constitution of Liberty on this and why this is because if you're responsible for yourself, then well, then the state is not responsible for you. You know, if you're responsible for yourself, then you're responsible for defending yourself too and you should own a gun to defend yourself in today's world, can't have that. So we have this relentless attack on individual responsibility and it existed in Macy's time in 1922 when he wrote socialism, but again, we've seen this really blossom attacks on individual responsibility since then. Okay, the final thing I wanna mention here about destructionism is also from Hayek and the road to serfdom. You know, after 2008 happened, our friends Tom Woods and Yuri Maltsev went on the Glenn Beck television show. He had a show on Fox at the time and Glenn Beck wanted to talk to them about the road to serfdom and the road to serfdom went to number one on Amazon sales the next day. And so on that same day, I contacted the Macy's Institute and we were teaching online classes under the Macy's Academy at the time and I proposed a course on the road to serfdom. And so I taught a five week course several times I did it on the road to serfdom, the students all over the world and the students were all over the world and they've read the road to serfdom and had a five week class on it. It wasn't like the graduate program, there was no credit, it was just for free. But I even had active duty military guys in Iraq taking the class on that, it was so popular. And so, but anyway, here's some of the things that some of the latter chapters and this should ring true to you. This should be very familiar to today's world. This is the 1943 that Hayek was writing this. There's a chapter called the end of truth, the end of truth. So this is the last thing I'm gonna talk about is what's being destroyed and by the socialists these days. Official myths are necessary to justify government actions. Read my Lincoln books, for example. Or my Hamilton book for that matter, official myths. In fact, Hayek uses the word official myths and James Bennett and I co-authored a book in 1992 entitled official lies how Washington misleads us. And so, I can't say that Hayek plagiarized us because he wrote this in 1943 and our book was 1992. But maybe, I didn't plagiarize him either on that language, but I just ran across that when I re-read this. He says, quote, pseudo scientific theory becomes the official creed, okay. I was just reading this morning. Anthony Fauci said, I never argued for lockdowns. And then there's an article on Breitbart today that gives videos of Fauci advocating lockdowns, you know. But he came out yesterday and said, oh, me? I don't know, I never advocate a lockdowns. Okay, pseudo scientific theory. Hayek said, quote, the minority who will retain a proclivity to criticize must be silenced, okay. Well, what else is Twitter and Instagram for after all on Facebook? Every act of the government must become sacrosanct and exempt from criticism. He's talking about totalitarianism. Now, you know, think about how true that is of American society today and the whole West, Australia, France, Canada, and so forth. Every act of government must become sacrosanct. A friend of mine who's a physician in Montana gave a fabulous talk about the COVID scam very early on. I think it was April 2020. A public talk was on the web and her hospital didn't kick her out, but they withdrew her privileges at the hospital where she would send her patients to. So to this day, she has to send her patients to a different doctor, and that doctor can get them admitted to the hospital. But her patients can't get admitted to the hospital. And this is in Flathead Valley, Montana. And every year, the Flathead Valley, Montana has one of these, a newspaper, the best of, you know, best auto repair joint, best restaurant, best doctor. She's the best doctor every last three years in a row, best family doctor, but she's kicked out of the hospital, basically, because of this great talk about how they were fudging the statistics on COVID cases in April of 2020, OK? Public criticism or expressions of doubt must be suppressed, the same thing. You know, keep in mind, Hayek here is writing in 1943. He's sitting there at Cambridge University taking turns with John Maydard Keynes on the roof of the buildings, watching for the Luftwaffe to come by and drop bombs on Cambridge. Literally, I personally heard Hayek say this. And at Cambridge University in 1984, it might be a big story, but I heard him say it. But he told a group of 700 at the Mount Pellerin Society meeting in 1984 that's where he wrote most of the, he claims that's where he wrote most of the, the road to surf on the roof, watching for the Nazi bombers. But it may be a story, because he also told a story at that same meeting. He said, I understand there's a man in the audience who really should be the co-author of the road to surf them. And I haven't seen him in 40 years. But I understand he's here tonight. Where is he? And this old man with white hair stands up in a very emotional moment. These are all Hayek worshipers, the Mount Pellerin Society. He founded the Mount Pellerin Society with the help of Mises and others.  And the next day, my friend Jim Bennett and I are going to a pub for lunch. And here's the old man sitting there, the white-haired old man, the rightful co-author of the road to surf them. And I had to say, wow, that was some story. You should be the co-author of the road to surf them. And this guy says, I don't know what Hayek is talking about. I go out to the theater with him in London all the time. And he says, this is a big story. He made the whole thing up. And so Hayek. And so when he came to George Mason when I was on the faculty there and gave a talk, he gave a caveat at the beginning. He says, yeah, I'm not what I used to be. He said, I think I went sea now for a while, but I quit smoking and it brought my brainwave back. He was a jokester, like that. Anyway, so I'm reading from the road to surf them here. And then one final thing he says, in the disciplines dealing directly with human affairs, such as history, law, or economics, be disinterested, search for truth cannot be allowed. Well, this certainly sounds like a lot of what's going on in universities today, to be sure. And I could tell you, I could stand up here for the next three days telling stories about this. Finally, truth itself is no longer something to be found, but becomes something to be laid down by authority, the end of truth in a totalitarian system. And all I could think of when I reread that was Fauci saying, I am the science. Science is not the science. I am the science. And these people, they actually say these things, at least in the Hayek's day, I don't think they came out and said these things, but they're so arrogant now because they know, or they think anyway, that we will just sit back and take it. And they are the science. And now they're even admitting that they lied to us. This Berks woman, the creepy woman with the scarfs that was on TV all the time during the COVID thing, she wrote a whole book bragging that she lied about this. And I've been thinking of writing an article about why she would lie, admit this. And I'm not sure I know why she would admit this, but she did, and so, Hayek had this all nailed in 1943 and it fits in with what his mentor, Ludwig von Mises, was saying in socialism a couple of decades earlier. And one thing I left out in my talk when I was talking about regulation is in addition to all those regulations, 45,000 pages, in the U.S., we have all these czars. You know, czar, there's a czar for everything. A czar, like there's an AIDS czar. This is a presidential appointee that doesn't have to go through the senatorial process of being voted on by the Senate. And there's a list online of all the czars. And some of these, I look at these like, how can I get a job like this? It probably pays a big salary. And I wrote down some of my favorites. There's an AFPAC czar, Afghanistan and Pakistan, AFPAC czar. There's an Asian carp czar. That's the job I would want, the Asian carp czar. This is the biggest knee slapper, a financial stability czar. Can you imagine the government, the bird flu czar. Maybe I want that one, I'm not the Asian carp. Climate change czar, a censorship czar. I guess this job is to make sure there's a lot more and more censorship every year, okay?  Any Bola czar, how about that? Global AIDS czar and a homelessness czar. He's doing a good job, isn't he? The homelessness czar. If I was president, I would give the homelessness czar a shovel and send him to San Francisco. That's what I would do. And that's my story for now. I guess we'll have time for questions if you have any. What's that? You don't have time? Well, who were you to say we don't have time? Who was this guy? No, we don't have time.


Cavalcade of America presented by DuPont, makers of better things for better living through chemistry. Spirit of the men and women of the Erie Canal, the Canolers, who for half a century labored along its topaz, as an expanding America spread from the Atlantic seaboard into the new west. This performance of the Cavalcade of America is dedicated. Spirit of America presents for the first time on the air the famous Broadway Hollywood success, The Farmer Takes a Wife by Frank B. Elcer and Mark Connolly. A colorful drama of life on the old Erie Canal. Our star is Nancy Kelly, the popular screen actress of 20th Century Fox. Since Nancy used to appear with the Cavalcade players in our early broadcasts, we're happy to welcome her back from Hollywood as a guest star on this program. Our orchestra and original musical score are under the direction of Don Voorhees. DuPont, makers of better things for better living through chemistry, presents Nancy Kelly in The Farmer Takes a Wife on the Cavalcade of America. Clinton's ditch, they called it, the Grand Canal, from Albany to Buffalo. For half a century, the big day of all the year for canolers was the spring opening of the Erie. They waited in the canal hotels perched beside the topaz. At Rome, New York, it was Gammie Hennessey's house. Have you ever seen such a crowd day before opening fortune? If you please, Gammie, Dr. Fortune Friendly. Indeed, it is an inspiring sight with winter's ice gone from the feeders and the water rising in the Grand Canal, fresh paint on the boats. The world is indeed born again, Gammie. That's an exciting time, all right. It always reminds me of the day back in 25, Gammie, when it opened for the first time. Ah, yes, it was inspiring. There was cannon strung along with a near shot all the way from Buffalo to New York. And you fired one, Fortune. Ah, yes, yes, I fired one. But it bucked on me, so I fired it again. The minute the canal opened, the guns went off all the way to New York. They had the news in 80 minutes. Think of it. Ah, yes, it reminds me a double black strap, Gammie. Make mine an ordinary ten-center, Gammie. Sure, Saul. Did your team wear it all right? No. Bay Mayor died of the heaves. I don't know how that new dapple keeps the towpath, Gammie. Howdy, Gammie. Howdy. Well, well, well. Pleasant meetings, Mr. Fisher. Thank you. I can see it is, as Gammie says, a good year. A good year. Your pocket's fairly bulged with freight invoices for the canals. That's right. Well, Bullies, it looks like a good year for the canal. And next year it'll be better. Well, me and Gammie, I'll be giving consignments for railroads, as well as boats. Railroads? Railroads! What do you mean, Mr. Fisher? Why don't you turn to decent work?  Besides, Riley, isn't your brother a railroad man? Why, yes, a railroad man. Are we not too afraid, Agent Grandpa? My brother a railroad man. Why, Gammie, that's an insult to my mother, Mr. Fisher. I was here. She's been helping up there. If this happens again, it's the last short haul you boaters get for me. There's railroads now. They do business peaceables.  It's unfortunate for him, Gammie, that you sent him forth before I could sell him a ticket on the Ohio Lottery. Oh, well, I should approach him later on the subject. Could I interest any of you others in lottery tickets? Drawings next month, you know, last chance to get me. Oh, sure.  We'll be taking a chance, I guess, later. Doctor, fortune-friendly, Mr. Tinker. Doctor? Oh, yes. Doctor indeed. I have a card here somewhere. Yes, here's my card. Teeth drawn or filled with pure crystal gold without paint. Why, fortune, I thought you was only a preacher and a gambler. No, no, not this year, Gammie. I want a fine set of dental tools from a man in Albany in a poker game. Yeah, some boaters getting mad. I'll say she is. That's Molly Lockington. Howdy, Sam. Howdy, Sam. Howdy, howdy. Jotham Claw, your cook's calling. I know it. Well, that's a nice thing for the bully that can all to do to a good cook. No good cook likes to keep supper waiting. Molly Larkin's getting too independent and notional. She wants to be the cook and the captain, too. I'll take my time. Jotham Claw ought to be careful. He'll lose a good cook. All gals is fools for boaters that fight for him. Sam Weaver, what's got you some Brussels? Everything's wrong, Gammie. I got a load for you to kill, and my driver's quit on me. Howdy, everybody. You've seen Jotham Claw. Why, he just left, Molly. I'll go find him for you. My new driver boy shows up. Tell him I'll be right back. I'll find Jotham for you. Say, Lucy was Claw drunk. Oh, he ain't very drunk, Molly. But you ought to up and leave him. Excuse me, but... Oh, oh, excuse me, Lucy. You, uh, you're looking for someone? Yes, ma'am. I'm looking for Samson Weaver. Well, if you're the driver he's expecting, he'll be right back. I guess you're new on the can all, ain't you? Yes. Uh, my name's Daniel Harold. Well, mine's Molly Larkins. I'm the cook on Jotham Claw's boat. Jotham Claw? You mean to say you ain't never heard of Jotham Claw, the bully of the whole canal? Well, he can lick anybody on the eerie. Oh, I see. Well, you'll find out it'll stay around here long enough. Well, I don't aim to stay. I'm just earning some money to buy a farm. Oh, I couldn't stand a farm. Too lonesome. Well, I must be fine, though. I have land all your own. Well, the canal's all our own. You ain't got a deed. Well, my part's mine. I'd like to see anybody try to take it. Well, what about the railroads? Some say the canal's done. Well, it ain't the whole of life.  I love it. Well, there's some things I like about it. Say, Molly. Yes, Mr. Weaver. Uh, Jotham's real sorry, Molly. He wants you to wait. Oh, thanks. Well, here's your driver. His name's Daniel Harold. Any kin of Henry Harold? My pa's name was Henry Harold. Well, by holy dang, Henry Harold's boy. Well, your pa had the Golden City. Made a wonderful run. It's connected at a buffalo in three days, 11 hours, and 37 minutes. Well, that makes you a sure enough real canaler, then, don't it? I don't know nothing about the canal, ma'am. I'm just a farmer. Yeah, you learn, son, enough. Come on, we'll take your dutch to the boat now. Bye, Mr. Arkin. Well, I'll see you on the big ditch. Our boat's called the Emma. I don't know the name of ours. Sassy sail, New York. Red belly with green stripes. We're heading east. Well, Jotham and I are going west to Buffalo. Oh. Then it's goodbye. Oh, it ain't but four days to Buffalo. Sure, we'll be meeting again. Maybe. I hope so, ma'am. Why, don't you know anything can happen on the Grand Canal? Hey there, canaler. Oh, howdy, Miss Arkin. When'd you get to Utica? Come in last night. I don't like to scrape your deckhouse off when Jotham tied up long side, but we thought you'd be out to see us. I go to bed early. Say, if you're going to live like a farmer, why do you keep working on the canal? Well, I live like a farmer because that's what I am. I can't understand why a big strongfeller that handles canal horses like you hankers for a farm. Well, like horses better for farming. I bet you didn't even buy a ticket on the Ohio Lottery. No. I'm hanging on to my money so as I can get that farm. But Mr. Weaver did. Oh, about six. That's the kind of a boater he is. Don't you really like the canal? Well, it just don't seem staple. Of course, it's nice with spring coming on, but last three days have been fine for planting. All right. Oh, here's Jotham. All right. He's been drinking all night. I bet he's busted his own record. Where's my breakfast? Jotham, did you pick a winner in Ohio? Sam Weaver drew one. He did, did he? Never mind about Sam Weaver. I told him he had breakfast ready.  You said it was ready.  I ought to give you a good lesson. Oh, no, you won't. Now, you listen to me, Jotham. Clore, I'm sick and tired of humor in you. Now, do you want your breakfast or don't you? Maybe and maybe not. Well, I'm cooking. Danged if I like him like that. That makes me mad.   Why don't you up and leave him? You know, that's just what I'm going to do. Why don't you sign up with Sam Weaver? We ain't got a cook. We'd admire to have you, ma'am. Hi, Molly. Hi, Dan. Sam, how much did you win? A prize in the Ohio Lottery. $5,000. What? Jotham, Jotham, Sam, what are you going to do with all that money? You know what I'm going to do? Buy myself a 96-foot boat. Come on, Mr. Weaver. What about our cargo here? Well, now I'll tell you, Dan. Fortune sold me this ticket the day I hired you. I had a feeling you was good luck to me. So from now on, you're the saucy sales captain that we divide what we make even Stephen. That's a mighty fine present, Mr. Weaver. I sure am grateful. Come on in the bar, everybody. Drink some of these. Come on in, buddy. I'll be right with you, Sam. Miss Larkin, can I talk to you a minute, please? Well, I'm pretty busy. Are you really quitting, Clore? I sure am. Well, then, will you marry me? I'm so sick and tired of him. What did you say? It's about getting married. You like me, don't you? Yes, ma'am. I've got to say that I do.  Well, that's how I feel. What do you think about it? You're going to stay on the canal a while now, ain't you? I might. If it'd help us to buy a farm you'd like. You see, I aimed to change your opinion about a farm as Larkin's. Oh, wouldn't it be awful if you did? Oh, no, ma'am. It'd be wonderful. Well, what if you found out you liked the Erie more? Oh, then I'd stay. Well, if you promise that, then I'll come and cook for you. Wait. You don't want to get married now? No, not yet, Dana. I don't know. Oh, I see. It ain't part of my plan to make you unhappy. Well, then I'll pack my dubs and I'll be ready for you can say, get. Certainly keep your cabin nice, Molly. That's sure pretty dress you're wearing. Yeah, come from Albany again. And when we go to the fair this evening, Dan's going to buy me a lace parasol to go with it. You want to be aware when they give you all the prizes. How many preserves did you say? How many preserves did you send to the exhibit? 18 kinds. Well, Lucy's over to the fair now to put them where the judges will have to eat them first. Hey, pleasant greetings, foe. Oh, it's that fortune friendly again. Oh, but he smelled the cake he was baking. Come on down, fortune. Come on the cabin steps now. Yes, yes, I should descend with caution. Howdy, fortune. Well, what on earth you got there? Ah, this little contrivance, ladies, is what we call a camera obscura. We take the geriatypes with it. Guaranteed human likeness. Oh, where'd you get it, fortune? A singular occurrence, that. Singular occurrence. A fellow and I got to talking. He wanted to play some cards, and of course, being convivial, I... I was on my way to winning this, and two dozen plates, but he got a straight flush.  Needless impediment, no doubt. Then his wife interrupted us. Oh, that's too bad, fortune. Yes, well, it's all right, though. His wife will be going to the fair after supper. Come around tomorrow, and I'll take your pictures. And rather be pecked to death by young ducks. Yes, I see. Well, I see there's a magnificent cake on the table. Magnificent. Yeah, it's Molly's cake. She made it. It's vanilla marshmallow. Wasn't ready when I sent the other things over. Say, you know, it's... it's taken Dan a long time to get a pair of shoes, ain't it? Yeah, well, Dan may have other business, possibly arranging to haul ties for the railroads. Well, I hate doing anything for them railroads. Oh, I don't know, Molly. As a learned professor of the classics told me in college, that was the year before I went gold hunting at Niagara Falls. Tempest Fugit. What does that mean? Times is flying. Not only times, but everything else. The railroads will give us more speed, all right, but they'll make us forget how fine the world could go at four miles an hour. Say, fortune, don't you think Dan loves the canal now? Don't you talk with him about it lately, Molly? Well, no. You see, we made a bargain. He said he wouldn't argue about a farm if I didn't pester him about the canal. And then we'd see how we felt when the season ended. Well, how do you feel? Well, time ain't up, but I... I know I sure like him fine. Ah, young love. How tender. You know, Dan's not like any voter I've ever seen. Well, he could be boss of the whole canal. He never gets drunk, and he... Dan's a peaceful fella. I guess there's nothing that makes him mad or excited. He's a funny fella, ain't he? Who's a funny fella? You are. Oh, Dan. Dan, what's in the big package? It's present for you. A mirror for you to see your new dress in. Oh, my. Is that lovely. You like me in the dress? You're about as pretty as anything I've ever seen. Spin around like you would dance. Oh, jeepers. She does look pretty, don't you, though? Say, what a whopper of a cake, Molly. Oh, wait till they see that.  I had to use it for something, Dan. Is it all right to be spending so much money? Oh, of course it is. We made more than I figured we would. Dan, Dan, do you want to buy the other half of the boat? Molly. Oh, gee, that sort of come out quick, Dan, for a thought. I didn't mean to break my word. That's all right, Molly. We'll talk it over later. Here comes Lucy back from the fair. I'm so mad I might break my leg. Well, what do you think? What? They won't take Molly's preserves. Are they that bad? Molly, they just won't accept the best pickles and jams and jellies and preserves they ever had. Boy, the paltrons. What's the matter? Oh, they say Molly ain't a resident of Oneida County. Oh. I was so mad that that secretary could have chewed his ear off. Oh, let's talk about something. That ain't a fair, I says. It's an unfair. Please, let's. First thing you know, I'll begin to feel sorry for myself. Haven't you got any other news? Yes. There's something I ought to tell you to. There's a visitor on my boat. It's Chlore, ain't it? Mm-hmm. I'm telling you because I sort of hoped you two could get away. Let's not bother about Chlore. Uh, what about eating supper off the boat? All right. I have an idea. All right. Lucy, you and Gammy and Mr. Fortune go on ahead. Sure. Well, you come along as soon as you can. Lucy, I thought the best thing you could do was... Dan, I want to talk to you. Molly, it's nothing you want to talk about. Dan or Hera, did you buy a farm? Yes, I did, Molly. Because I'm in love with you.  All them things you've been buying for the boat. Things too big for that... Molly. That old looking glass and that stove. Buying furniture and things and every bit of it for a farm. Please. I bet you even got this dress for me to go to church in, too. I thought you might like to get married in it. You're certain sure about everything, ain't you? Well, I'm getting sure I ain't never going to marry you. Are you sure, Molly? Oh, I am, am I? Well, I'm changing my mind. I thought Jotham Clore was mean. Well, I'm going to call him over and apologize. Jotham! Jotham Clore! Well, he can't hear you, Molly. Clore's in his boat, dead drunk. I'll meet him some other time, Molly. Now, I'm going to show you I ain't so mean. My half of the boat is yours. Everything I bought for the boat is yours, too. But you won't be hauling much more. What do you mean? Don't you see? We've called the eerie the big ditch. Well, in a few years, that's just what it's going to be, a big ditch. And where will you be? Living in some hotel along the towpath, waiting for the canal to come to life.  Nothing can lick the eerie. Well, you don't deserve to be on the canal. Maybe not. Goodbye, Molly. What? What's up, Gemi? Fisher's iron canal is to work on the water town low rail. Hey, keepers, what's this computer coming to? Well, they call it progress, Grandpa. Can I hear the 11 o'clock train from Santa Cruz? I'm going over and cuss it face to face. Well, there's your chance, Graves. Well, I'm down the towpath. Ain't anybody mad enough to stand up to this? Well, I mean, can't stand up to a thing like that. Well, I'm just a soul. Look up in the cowcatchers, gentle as you please. Well, talk to your bitters and them torn junks and clean across the canal. One minute to go, Graves. Grandpa, we should seen him do it. Well, he didn't do him much good. Molly, we heard you was going to winter in Buffalo. Well, I changed my mind. I'll come here to give you the money we made on those two long halls. Well, I thought Dan give his half to you. I ain't gonna take it. Well, now look who's coming through the door this minute. Howdy, everybody. Howdy, man. Howdy. Oh, Molly, well, they said you were in Buffalo. I just want to talk some business with you, Mr. Weaver. It's about the big team. I want to buy them. If you and Molly will sell them to me, I can use them right now for plowing. Yeah. What do you say, Molly? Oh, come on, come on, Molly. This is just a business deal. That's for him and you to decide. I don't owe none of the boat. Well, you talk to him, Molly. I'll be back in a minute.  Until the canal opens as usual in the spring. I wish you could see the farm, Molly. And when she's all cleared up, there'll be 400 acres. Cattle and sheep is fine and chickens, too. The main dwelling's good. Sounds pretty lonesome to me, just like always said. We don't find it lonesome at all. We? Yeah.  Oh, you like the kitchen. It's big and bright with a pump right in it. I like little kitchens. And once and for all, Danil, I ain't interested in anything you do. Oh, there you are, Mr. Danil Howard. Oh, Danil, it's Jotham Clure. Howard, I've been looking for you for some time. Get ready. Oh, Dan, get out.  Molly, don't you want to see that farm? This ain't no time for farm. All right, Mr. Danil Howard, take off your coat. Put up your... Boy! Let's get started. Write down what you think you'll need to go out and buy before dinner. But, Dan, you're the bully of the canal. Well, you're the boss of the eerie.  And I ain't the boss of the eerie. Can't you see, Molly? I'm just a farmer. Yeah. Yeah, I see, Dan. And I... I guess I'm just a farmer's wife. And canal that was the eerie. Today, reeds grow in muddy channels in the sound of crickets and frogs. Echoes along the mossy banks of the big ditch. The canal is dead. Today along its old towpath roar the untiring trains of a new age. For this is the way America was built. The old giving way to the new in every field of our endeavor, in every decade of our growth. To the gallant men and women of the Grand Canal. Pioneers of our march to the west. An honored place in the unending procession that is the cavalcade of America. For her portrayal of Molly Larkins and for being the guest star of the cavalcade players for this performance, of The Farmer Takes a Wife by Frank B. Elzer and Mark Connolly. And now the DuPont Company brings you its story from the wonder world of chemistry. November 15th was a mile post. It ended six months of the public's experience with stockings made from nylon yarn. First offered for sale throughout the country on May 15th. DuPont's objectives in producing this versatile textile fiber have been and are to perfect a better product than was ever used before. And to make it serve the most useful purpose for the largest number. Seeking something better than nature ever produced, DuPont chemists labored for three years even after the chemical compounds that make up nylon had been discovered to perfect a practical textile yarn. Women's hosiery was selected as the first important field for development. By mid-summer of 1938, a small research plant was in production at DuPont's experimental station near Wilmington, Delaware. In October, the name nylon was coined. And DuPont had enough confidence in this product to set aside enough funds for a full-scale plant. In January 1940, the company began distributing this yarn to various hosiery mills which knitted into their own brands of nylon hose. Up to October 1st, approximately 17 million pairs of full-fashioned nylon stockings were shipped to retail outlets from mills in 27 states. Women bought nylon stockings for them, learned what to expect from them. The demand grew, surpassing the expectations of even those who knew the properties of nylon. To meet the growing demand, DuPont is doubling the original capacity of the Seaford plant and is building another great new plant for manufacturing nylon at Martinsville, Virginia. Meanwhile, research and practical use at nylon serves well as bristles in toothbrushes and hairbrushes, as sewing thread, surgical sutures, fish lines, and ever-widening range of everyday necessities. Nylon yarn has recently been introduced in lace fabrics, foundation garments, men's half-hose, and woven fabrics for undergarments. Still, 90% of the yarn produced continues to go to manufacturers of women's full-fashioned hosiery. Manufacturers, distributors, have been encouraged to describe accurately how and where nylon is used in their products so consumers may know beyond any question what they are buying. The latest news about nylon is DuPont's announcement of a price reduction on the yarn. This initial price change, while relatively minor in itself, was made after only 10 months operation of the first plant and such reductions betoken DuPont's established plan of lowering prices whenever increased volume permits, thus advancing the cycle which brings you more and better goods at a lower price. Such is the practical end envisioned by the words of the DuPont pledge, better things for better living through chemistry. And now the star of next week's program, Agnes Morehead. Ladies and gentlemen, it isn't often that cavalcade honors a living person, but for our drama next week we will present the story of one of America's living women, Martha Berry. As founder of Berry College in Georgia, she has taught thousands of young men and women to reclaim the ancient heritage of the south and set the nation an example of wisdom and courageous leadership. I'm very happy that I've been asked to portray the role of Martha Berry on next week's Cavalcade of America. Thank you. Among the cavalcade players on this program, the part of Dan Harrow was played by William Johnstone, Sam Weaver by Howard Smith, Gammy Hennessey was Agnes Morehead, Lucy Gurget, Jeanette Nolan, Joseph Clore was John McIntyre, Grandpa Riley, Ray Collins, and Fortune Friendly was Kenneth Del Mar. Your announcer is Clayton Collier, sending best wishes from DuPont. This is the National Broadcasting Company.