The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XIII. Flight from Bonds to Stocks

Collection:: Economics Books

Flight From Bonds to Stocks 199 have yielded a steady income. Sometimes, when prices were falling, that is, when the dollar was ris- ing, they have yielded an increasing income meas- ured in purchasing power. Sometimes, when the dollar was falling in purchasing power, they have vielded a shrinking income and a shrunken principal 1400 | NEW SECURITIES ISSUED gonds 10 erocr 300 ) 200 10D 000 900] 800 L ~ - - - NEW CAPITAL . 700 8500 300 400 i 100 | 200 oc ogi {9 1920 1221 1922 1923 1924 1925 926 27 1epr 1929 CHART 22.—Large new security issues since 1924, have been marked by a decided preference by the investing public for common shares as against bonds. in purchasing power. Yet this picking of the bond- holder’s pocket was so subtle that he submitted to it without a murmur; or, rather, he murmured only against the high cost of living and not against the insecurity of his investments or of the dollar. As a

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