ISBN: 9781153688901

Excerpt: ...causes have been in action, however, chiefly the world-wide overproduction beyond even the demand of prosperous times for such important basic commodities as wheat, rubber, co… More...

Excerpt: ...causes have been in action, however, chiefly the world-wide overproduction beyond even the demand of prosperous times for such important basic commodities as wheat, rubber, coffee, sugar, copper, silver, zinc, to some extent cotton, and other raw materials. The cumulative effects of demoralizing price falls of these important commodities in the process of adjustment of production to world consumption have produced financial crises in many countries and have diminished the buying power of these countries for imported goods to a degree which extended the difficulties farther afield by creating unemployment in all the industrial nations. The political agitation in Asia; revolutions in South America and political unrest in some European States; the methods of sale by Russia of her increasing agricultural exports to European markets; and our own drought-have all contributed to prolong and deepen the depression. In the larger view the major forces of the depression now lie outside of the United States, and our recuperation has been retarded by the unwarranted degree of fear and apprehension created by these outside forces. The extent of the depression is indicated by the following approximate percentages of activity during the past three months as compared with the highly prosperous year of 1928: Value of department-store sales - 93% of 1928 Volume of manufacturing production - 80% of 1928 Volume of mineral production - 90% of 1928 Volume of factory employment - 84% of 1928 Total of bank deposits - 105% of 1928 Wholesale prices-all commodities - 83% of 1928 Cost of living - 94% of 1928 Various other indexes indicate total decrease of activity from 1928 of from 15 to 20 per cent. There are many factors which give encouragement for the future. The fact that we are holding from 80 to 85 per cent of our normal activities and incomes; that our major financial and industrial institutions have come through the storm unimpaired; that price levels of major... Herbert Hoover, Books, History, State Of The Union Address Books>History The book has no illustrations or index. Purchasers are entitled to a free trial membership in the General Books Club where they can select from more than a million books without charge. Subjects: History / United States / 20th Century; History / United States / General; Biography<

ISBN: 9781153688901

Excerpt: ...causes have been in action, however, chiefly the world-wide overproduction beyond even the demand of prosperous times for such important basic commodities as wheat, rubber, co… More...

Excerpt: ...causes have been in action, however, chiefly the world-wide overproduction beyond even the demand of prosperous times for such important basic commodities as wheat, rubber, coffee, sugar, copper, silver, zinc, to some extent cotton, and other raw materials. The cumulative effects of demoralizing price falls of these important commodities in the process of adjustment of production to world consumption have produced financial crises in many countries and have diminished the buying power of these countries for imported goods to a degree which extended the difficulties farther afield by creating unemployment in all the industrial nations. The political agitation in Asia; revolutions in South America and political unrest in some European States; the methods of sale by Russia of her increasing agricultural exports to European markets; and our own drought-have all contributed to prolong and deepen the depression. In the larger view the major forces of the depression now lie outside of the United States, and our recuperation has been retarded by the unwarranted degree of fear and apprehension created by these outside forces. The extent of the depression is indicated by the following approximate percentages of activity during the past three months as compared with the highly prosperous year of 1928: Value of department-store sales - 93% of 1928 Volume of manufacturing production - 80% of 1928 Volume of mineral production - 90% of 1928 Volume of factory employment - 84% of 1928 Total of bank deposits - 105% of 1928 Wholesale prices-all commodities - 83% of 1928 Cost of living - 94% of 1928 Various other indexes indicate total decrease of activity from 1928 of from 15 to 20 per cent. There are many factors which give encouragement for the future. The fact that we are holding from 80 to 85 per cent of our normal activities and incomes; that our major financial and industrial institutions have come through the storm unimpaired; that price levels of major... Herbert Hoover, Books, History, State Of The Union Address Books>History, General Books LLC<

ISBN: 9781153688901

Herbert Hoover, Paperback, English-language edition, Pub by General Books LLC Books History~~United States~~20th Century State-of-the-Union-Address~~Herbert-Hoover General Books LLC The b… More...

Herbert Hoover, Paperback, English-language edition, Pub by General Books LLC Books History~~United States~~20th Century State-of-the-Union-Address~~Herbert-Hoover General Books LLC The book has no illustrations or index. Purchasers are entitled to a free trial membership in the General Books Club where they can select from more than a million books without charge. Subjects: History / United States / 20th Century; History / United States / General; Biography<