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July 12, 1958

Business and Economics

Author Affiliations

President of the Midwest Stock Exchange

JAMA. 1958;167(11):1338-1341. doi:10.1001/jama.1958.02990280024007

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It seems particularly appropriate that I be asked to contribute an article on the 75th anniversary of The Journal, inasmuch as the Midwest Stock Exchange has just completed a similar celebration. The doors of the Chicago Stock Exchange, a forerunner of Midwest, were first opened on March 21, 1882. As a result, the year 1957 was our diamond anniversary.

Although in entirely different fields, I think the medical profession and the investment business have much in common. Neither activity enjoyed or merited public acceptance until it raised its own standards and saw to it that they were applied uniformly.

The readers of The Journal are well aware of the Flexner report in 1910 and how it brought order to medical schools and ultimately to the medical profession. For a good many years now, the securities business has similarly had the confidence of the American people, largely because the development of

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