The stock market crash - and after

Bibliographic data

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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter III. Causes of the Panic

Collection:: Economics Books

42 The Stock Market Crash—And After prices too high or that it materially diminished the availability of credit in commercial and industrial business, as that investors were overextending them- selves on margins. True, overextension of credit raised prices somewhat. Without any overextension, however, such prices might still have risen nearly though not quite so high. [t should be added that up to the time of the panic there had been no great complaint from busi- ness circles on account of lack of credits, except in the case of the building industry. It has seemed to me an open question how far such building reces- sion as we have had in 1929 was caused by curtail- ment of credits, and how far by overbuilding. But funds had been withdrawn from building and loan associations and from banks and other sources of mortgage loans, attracted by the higher rates of call and time loans for financing stock exchange transactions. Even so, it would seem that means might have been devised, from the ample credit resources of the Federal Reserve System, to accom- modate the building industry as well as the stock market without curtailing the upward course of stock prices. The efforts of the Federal Reserve System to make money dear in the stock market tended to make it dear in the real estate market as well, despite their desire to avoid such effects. Stock Market Loans by Others Than Banks The American Bankers’ Association in its resolu- ion demanding an inquiry into the whole subject of

Access restriction

Copyright

fullscreen: The stock market crash - and after

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation