second qualify this is view and shouts that our vice is not so much greed, which is the vice of the misor, as extravagence, when we get one we go into debt for ten. when the time comes, as come it will for paying for all this, we collapse, we wither, we fleet and sink into the sand. a third voice complains that the absence of a protectionist trade policy and the existence of a credit system which is by its nation inflationary, our writer went on to say that all views have some merit but the real problem was the ease with which our currency was inflated by the american banking system which he said varies from state to state, outside of new york where it's not perfect is a bungeling inflictment as was ever thought of. it would be years before the federal reserve was created to deal with some of the problems he identified in that first story. which actually brings us to did issue of the new issue of the atlantic that appears today and our cover piece is on ben bernanke's effort to use the federal reserve to address the economic crisis we find ourselves in. it's a wonderful piece by roger low