The Alvan T. Simonds Contests

Fifteen hundred dollars is offered annually by Mr-Alvan T. Simonds, President of the Simonds Saw and Steel Company, in a national contest, open to everybody.

The aim of the contest is to arouse a'more general interest in the subject of economics, as related to individual and general welfare, and to increase general economic intelligence and a knowledge of what is genuine thrift, thrift that increases individual and general welfare.

Essays are invited, applying the rules given herewith :

The Essays

The essays are to be in two parts-Part I, theoretical, dealing with the economic theory of Saving and Spending and setting up a thesis fitted to present conditions in the United States; Part II, applied, and illustrating by Simplified Practice and the Elimination of Waste the thesis developed in Part L The ,parts must be so written that either part may be used as an independent unit. The essays should be written in a popular style, to interest !'the man on the street," the average person, as well as the technical.

In Part I, popular fallacies, s.ucl.as. "sqe_nding in any old way increases general prosperity," should be pointed out and controverted. In this part, too, Hobson's thesis that corporations are saving too large a proportion of their earnings and putting it back into the business, should be discussed. Saving as a cause of business depressions, the worker becoming a capitalist, and buying on installments, ere also suggested for consideration. Part I should set up and demonstrate if possible a thesis as to the proper relationship between saving and spending to produce the greatest prosperity under conditions today in the United States.

Part'II should apply this thesis to the fields of Simplified Practice and the Elimination of Waste, as sponsored by the

Department of Commerce, Washington, D. C, Each part should be at least 3000 words in length, but should not exceed 50@ words. Contestants mav subrnit both Part I and Part II, or either alone, adopting or assuming a thesis to apply to Part II, if only this part is submitted.

The essays ,must be written in English and preferably typewritten on one side of the paper only. An assumed na.me should be at the head of each sheet. A sealed envelope with the assumed name on the outside and containing the real name and address should accompany each essay submitted.

The essays must be original and not previously published and must not be published nor used in any similar contest before the prizes in this contest are awarded.

The prize-winning essays and the copyrights shall become the property of the donor upon payment cif the prizes.

Prizes

The first prize, $1000, will be awarded by the judges to the best essay submitted, consisting of the two parts as outlined above. The second prizes, $250 each, will be awarded by the judges to the best essay submitted, dealing with Part I and to the best essay tre4ting Part II. Both of the second prizes may be awarded to the same individual, but neither of them to the winner of the first prize.

The judges will be announced at the close of the contest. They will be selected fgom experts in economics. business and related activities. Their decisions must be accepted by all concerned, as final.

All communications should be addressed to the Contest Editor, Simonds Saw and Steel Company; 47O Main street, Fitchburg, Mass. Essays to be considered should reach him on or before December 31, 1926. Their receipt will be acknowledged but no essays will be returned.