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Salient: Victoria University Students' Paper. Vol. 28, No. 11. 1965.


Dr. Raymor Johnston of the University of Melbourne has written "All human living, whether of the civilised or the primitive pattern, is based on assumptions. They are very powerful and they are seldom examined."

It is to the crisis In human history that we owe that examination of our basic assumptions which is necessary to progress.

With World War I came the first shock to our basic assumptions regarding that supremely important element in the social structure, money.

From August 4, 1914, it was generally supposed and proclaimed by economists and others, that the struggle could last only a few months, because "there would not be enough money."

On the contrary, as Lord Milner afterwards remarked, "As long as the things that were necessary were available, the counters for dealing with them would always be forthcoming."