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 II. President Hoover Acts

Collection:: Economics Books

President Hoover Acts 27 little, engaged in all forms of production down to and including the retail trades, and including some backward industries like coal and textiles. How might this universal stimulus be applied? Features of the Business Conference It could not be done merely by conventions and their resolutions. Julius H. Barnes, who as Chair- man of the Board of the United States Chamber of Commerce marshalled the National Business Survey Conference, defined, on December 6, 1929, out- standing factors concerning this conference, as fol- lows: “First, that it presented an extraordinary and competitive cross section of the whole fabric of American business represented by leaders, who could speak with conviction and the authority of proved leadership in their lines. “Second, that in taking up any possible slack in wages and employment, an elasticity of new con- struction and of maintenance is the chief factor; and that maintenance, which means new equipment, and construction, which means not only expansion but improvement of mechanical production and distribu- tion, are naturally justified. “Third, that this implies large capital expendi- tures for these purposes, and this must be provided from industrial treasuries, or, most largely, by bor- rowings for capital investment. “Fourth, these borrowings depend upon the abil- ity to obtain money at reasonable rates and in ready and adequate quantity. This situation has devel-

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