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 XV. Remedies and Preventives of Panics

Collection:: Economics Books

CHAPTER XV REMEDIES AND PREVENTIVES OF PANIC WHAT measures were applied to alleviate the stress of the panic? What remedies were proposed to prevent its repetition ? Governmental and Banking Relief To the reassurance afforded the nation by the President’s conferences with business leaders, was added the cut of $160,000,000 in income taxes, passed by Congress on December 14th, at the sug- gestion of Secretary Mellon. This reduced the tax by one per cent of the incomes of all individuals and corporations taxes on incomes for the calendar year 1929. It was passed as a measure of reassurance to business, as taking in earnest the statement by Sec- retary Mellon that: “The indications are that busi- ness profits, dividends, interest, and wage payments in 1929 will considerably exceed those of the year 1928. Our estimates indicate that the government should close both the fiscal years of 1930 and 1931 with a surplus.” The banks lent powerful support after the loans to brokers by non-banking lenders declined during Octo- ~9Q

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