Under the federal reserve act, panics are scientifically created. The present panic is the first scientifically created one, worked out as we figured, a mathematical equation.

Is he alone who has courage on his right hand and faith on his left hand?

History has recorded nothing so dramatic in design, nor so skillfully manipulated, as this attempt to create the National Reserve Association, or the Federal Reserve.

Sometimes, flying feels too godlike to be attained by man. Sometimes, the world from above seems too beautiful, too wonderful, too distant for human eyes to see .

On a long flight, after periods of crisis and many hours of fatigue, mind and body may become disunited until at times they seem completely different elements, as though the body were only a home with which the mind has been associated but by no means bound. Consciousness grows independent of the ordinary senses. You see without assistance from the eyes, over distances beyond the visual horizon. There are moments when existence appears independent even of the mind. The importance of physical desire and immediate surroundings is submerged in the apprehension of universal values.

Our emphasis on science has resulted in an alarming rise in world populations, the demand and ever-increasing emphasis of science to improve their standards and maintain their vigor. I have been forced to the conclusion that an over-emphasis of science weakens character and upsets life's essential balance.

It is about a period in aviation which is now gone, but which was probably more interesting than any the future will bring. As time passes, the perfection of machinery tends to insulate man from contact with the elements in which he lives. The 'stratosphere' planes of the future will cross the ocean without any sense of the water below. Like a train tunneling through a mountain, they will be aloof from both the problems and the beauty of the earth's surface.