Benjamin Graham Quotes

There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that market.

The volume of credit depends upon three factors: the desire to borrow, the ability to lend and the desire to lend.

THERE is widespread agreement among economists that abuse of credit constitutes one of the chief unwholesome elements in business booms and is mainly responsible for the ensuing crash and depression.

The utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has become extraordinarily ambiguous; and its future is highly uncertain.

The money cost of the reservoir plan literally fades into insignificance when it is compared with the financial burden which the great depression imposed on the nation.

Both a priori reasoning and experience teach us that as as these funds grow larger the geometrical rate of growth by compound interest ultimately defeats itself.

The existence of such a war chest might go far to strengthen our prestige and frighten off any would be assailant.

Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.

Why should the cotton growers suffer if there is shortage of wheat?

The Reservoir system will function not only as an equalizer of business conditions, but also as a national store to meet further emergencies, such as war and drought, and-most important of all-as the concrete means of developing a steadily higher living standard for all.

The State can always afford to finance what its citizens can soundly produce.

It is a fact worth pondering that four centuries ago the evil of "an abundance or surplus" arose from its being kept off the market, while today the evil of surplus lies in its being thrown upon the market.

Whether we like it or not, government intervention in the face of surplus is here to stay.

Even the most conservative must realize that the recent transformation of surplus from an individual to a national disaster implies a scathing indictment of our capitalist system as it has now developed.

Instead of passing blithely over into that Promised Land, flowing almost literally with milk and honey, it may be our destiny to wander a full 40 years or more in the wilderness of doubt and divided sentiments.