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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter II. President Hoover Acts

Collection:: Economics Books

28 The Stock Market Crash—And After oped rapidly in the last few weeks, so that this assurance is present. This is shown by the Treasury refunding today of $325,000,000 at 314 per cent, against its last borrowings at 47 per cent, not long ago. This is probably the most extraordi- nary change ever recorded in Treasury operations between transactions. “Fifth, that industry, in being assured of available capital requires then only the vision and courage to proceed.” The temporary speeding of public works does not mean merely assurance of increased employment in the cement, steel and building industries. Mani- festly there could be no wholesale transfer of the unemployed from shops and unrelated industries into building, even though that building were dis- tributed throughout the states. But buildings have to be furnished. Architects and their staffs are employed. The makers of office furnishing, plumbing and other building equipment feel the fresh demand and take on new help. Housing is stimulated. The furniture dealers, car- pet and rug makers, hardware dealers, radio and washing machine makers, and numberless other con- tributors to house furnishings feel the stimulus of new demands and add to their pay rolls. The work- men in all these industries promptly spend their added total of wages for food, shelter and clothing, so that very quickly the vivifying impulse of new capital outlays is felt in all branches of industry and trade. These outlays might be made directly from the

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