The work of the Stock Exchange

Bibliographic data

Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XVII. The stock exchange and American business

Collection:: Economics Books

482 THE WORK OF THE STOCK EXCHANGE increasing extent in place of the slower and less profitable manual labor employed in our fields fifty years ago, which is still so employed in most other countries. If the industrial portions of this country have imposed a constant burden upon our farmers by attracting their labor into the cities, they are repaying the debt by furnishing the farmer with iron slaves capable of outworking hand labor as to speed, efficiency, and cheapness. Nowadays, machinery can be depended upon to shell and grind corn, plant, reap, and shock wheat, cut silage, hoist hay, thresh grain, and perform many other tasks essential to wholesale farming. Neither has the farmer’s wife been slow to adopt such mechanical, labor-saving devices for her churning, washing, milking, and separating. All these invaluable machines are manufactured by corpora- tions, many of the larger of which have in the past depended upon the Stock Exchange for their capital. Still other corpora- tions which have similarly financed themselves furnish the farmer with various petroleum products, fertilizers, tractors, etc. Moreover, apart from the tools of his trade, the farmer is enabled, along with the city dweller, to obtain the innumer- able comforts and luxuries of life through corporations with listed securities. These days the farmer drives his pleasure car, uses a telephone, buys merchandise by mail from the great mail order houses, employs electric lights in his home -and in his barns, and enjoys the artistic and educational programs brought to him by his radio. In the creation of all these things, also, the Stock Exchange plays an indirect but essential part. For all the perennial misunderstanding which has existed between town and country even before the days of Horace, the farmer is a hard-headed thinker, with a firm and stubborn grasp upon the realities of life. He is a conservative and con- structive individualist. It is a real tribute to his sound sense that Socialism and its glib theories about abolishing property and the like almost invariably make little appeal to him. Even in Russia this has been so; for although Bolshevism swept the cities and towns, it has made little real progress out in the coun-

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