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Lenin used the terms "Socialism" and "Communism" as interchangeable synonyms. The basic doctrine behind both words is a concept of society in which the State would own all means of production and private, or "capitalistic," profit would be eliminated. Regrettable is the extreme looseness of meaning which: 1) permits James Ramsay MacDonald to call himself a "Socialist," although he does not strive for State ownership of the means of production; and 2) permits Josef Stalin to be known as a "Communist," although he recently restored to Russian peasants the right of private trade with its inevitable capitalistic profits (TIME...
...provide that States that wanted to be Wet might be Wet, regardless of the 18th Amendment, but would prohibit them from legalizing the saloon. Therefore a Wet State would probably have to set up a State liquor monopoly and keep the business out of private hands for private profit. Likewise the Federal Government would reserve the power to police Dry States and control interstate liquor shipments. Under such an amendment the Federal Government's power to regulate would be large, to prohibit...
...Bank, smart stock poolster presented Scarborough School (Scarborough-on-Hudson, N. Y.) with a deed to the school building and property. Culver Military Academy (Culver, Ind.) also passed from private ownership. Founded in 1894 by Henry Harrison Culver, St. Louis stove manufacturer, Culver has been owned and operated (without profit) by the heirs, who turned over to a trust foundation last week their interests, some $6,000,000 in property and other assets...
...only Senators Norbeck & Townsend listened to further Anaconda revelations from Chairman John D. Ryan. With Harry Frank Guggenheim, he had acquired blocks of Chile Copper and other copper companies before they were absorbed by Anaconda through an exchange of stock. At one time Chairman Ryan said he had a profit of $1,250,000 on his Chile operation, but the Anaconda received in exchange now showed him a large loss. Smart Harry Guggenheim sold out, made $404,000. President Cornelius Francis Kelley of Anaconda, no witness, interrupted: "Mr. Gray is trying to ride the witness for the benefit...
...long delay in reducing the prices still remains, to most minds, unexplained. Even when the present charges corresponded more perfectly to the prices in the wholesale market, the Dining Halls were run with sufficient profit. Though outside prices have fallen, the Administration has long persisted in its high costs long after conditions and undergraduate opinion justly demanded change...