A magyar korona országainak betegsegélyző pénztárai 1898-ban = Die Krankenkassen der Länder der ungarischen Krone im Jahre 1898

A magyar korona országainak betegsegélyző pénztárai 1898-ban = Die Krankenkassen der Länder der ungarischen Krone im Jahre 1898

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Monograph

Identifikator:: 890185476

URN:: urn:nbn:de:zbw-retromon-7558

Document type:: Monograph

Title:: A magyar korona országainak betegsegélyző pénztárai 1898-ban = Die Krankenkassen der Länder der ungarischen Krone im Jahre 1898

Place of publication:: Budapest

Publisher:: Pester Buchdruckerei-Actien-Gesellschaft

Year of publication:: 1901

Scope:: 1 Online-Ressource (164, 131 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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

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Document type:: Monograph

Structure type:: Chapter

Title:: II. Tabellarische Ausweise

Collection:: Economics Books

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266 The Stock Market Crash—dnd After Other Factors Apart from Justifying Causes It is also possible that had there not been certain other factors quite unassociated from the funda- mental justifying causes of the long bull market, that operated with the momentum of long and short-term swings in the October-November crash, the crash might have been prevented. There was the downward turn in the business trend resulting in a rather rapid decline in the aver- age of wholesale prices during the summer of 1929; but this was not so great as the 19277 down-turn had been, and it could not alone account for the panic. There was the tax on capital gains, discouraging the active selling of stocks to take profits and encour- aging the buying of new securities by the help of loans instead of by the proceeds of sales of stocks. There was the sudden increase of a billion dollars’ worth of new securities by the investment trusts, with a lag in their reinvestment of the proceeds in the stock market. Finally, there was the “boom” enthusiasm which during the three months preceding the panic, to a considerable degree, ignored yields and earnings in its extravagant belief in the future growth of business. This enthusiasm doubtless had its hold upon intelligent speculators who had sub- stantial grounds for their optimism as well as upon the “lunatic fringe’ that always attends the per- formances of rising markets. It is not altogether unlikely that there were other facts and situations now unknown or hidden, which

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