In the nine years of its existence the Foundation has Justified
the 
faith of its founders many fold. For example, the Foundation has placed side

by side the work of C. N. Anderson of the Bell Telephone Laboratories, who
dis- 
covered a 14,8-year wave in sunspots with alternate cycles reversed; the
work of 
F. A. Pearson of Cornell, who discovered a rhythm of seemingly this exact
length 
in the price of pepper and in the purchasing power of beef cattle; the work
of 
A. B. Douglass of the University of Arizona who finds what seems to be the
same 
rhythm in the alternate thickness and thinness of tree rings; and the work
of 
D. D. Miner of the Chemical Bank of New York who discovered what seems to
be a 
4t.8-year rhythm in interest rates. When this has been done, the Foundation
dis- 
covers not only that the waves seem to be of exactly the same length, but
that 
the crests of the Anderson and Pearson and tree ring waves come at the same
time. 
 
         Another example has to do with a 17 3/4-year wave discovered by
the 
Foundation in tree rings, cotton prices, the sales of a large industrial
concern, 
and sunspots with altelnate cycles reversed. Here again, in all instances,
not 
only are the lengths the same but the crests come at about the same time.

 
         A third example is the 54 year rhythm discovered by Sir William
Beveridge 
 in British wheat prices throughout the past 300 years and observed by N.
D. 
 Kondratieff in French rente and English consols, in wages, and in the production

 of coal, pig iron, and lead in England, and in prices in France, England,
and the 
 United States. The Foundation has extended Beveridge's work back for an
addition- 
 al 500 years and has also found average waves of this length in Arizona
tree 
 rings back for 848 years. 
 
          A fourth example has to do with an 18 1/3-year rhythm discovered
by 
 Anderson in sunspots with alternate cycles reversed, by H. P. Gillette in
the 
 alternate thickness and thinness of rock strata, and by Roy Wenzlick in
the 
 national index of real estate transfers and in marriages per 100,000 adult
males 
 in St. Louis. Professor Pearson has observed a rhythm of about this length
in 
 building construction and many other aspects of our economy including wheat

 acreage in New York, pig iron production, loans and discounts, and railroad
stock 
 prices. The Foundation itself has discovered this rhythm in the sales of
a large 
 industrial company and the sales of a large public utility. As far as known,

 all crests come at about the same time. 
 
          Our fifth example has to do with the 41-month rhythm so general
in 
 American industry and prices and found by Huntington in the variations of
atmos- 
 pheric electricity. 
 
          Sixth, Huntington also discovered a 9 2/3-year rhythm in the abundance

 of ozone and in the incidence of human heart disease in north eastern United

 States which corresponds with the rhythm in the abuneance of lynx, martin,
mink, 
 and muskrat in Canada as found by Charles Elton of Oxford. 
 
          And, even at the risk of laboring the point, I shall give a seventh

 example. A 6-year rhythm, first discovered by Chapin Hoskins in lard prices
and 
 in the sales of a large industrial concern, has been discovered by the Foundation

 in the production of rayon, tn the production of automobiles, in barometeric

 pressure at New York, in cotton prices and cotton production, in the sales
of 
 some 25 of our leading corporations (but not in the sales of certain others)
and 
 in sunspots with alternate cycles reversed. It also seems to be present
in tree 
 rings in Arizona for the last 848 years, which is as far back as the figures
have 
 been studied. 
 
 
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