The economists would say that it is the upward "Secular Trend" that favors common stocks as opposed to bonds, so long as the population and the business of the country are increasing. There is something more than growth of population that contributes to the rise in the "Secular Trend" and the increase in business from decade to decade. It is the constantly accelerating speed of modern life. All of our activities are on a much more rapid basis to-day than they were twenty years ago, due in part to the constant increase in the speed of communication and transportation and the countless major and minor time-saving devices that have been introduced into our business and private life.