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The Iron Age 1930-01-02: Vol 125 Iss 1

1930 Reed Business Information US

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Seventy-fifth Year May JANUARY 2, 1930 hey Mo ty 2 a 1 ny Turning Losses Into Gains @.At the opening of 1930, two months after the worst of the stock market panic, American business’ knows that what at first seemed all calamitous. has - ’ great offsetting gains. @ Chief of these is that the most unhealthy boom the country ever knew has come to an end. Its nemesis, unlike other panics, did not kill prosperity but insured it a new lease of life. ¢ Under the spell of the new era-idea men-could not see, as they now see with clear eye, that the 1929 stock market advances and such “prosperity” as they produced had more mob psychology in them than sane economics, We now- see, too, that most of the old standards of values are still worth keeping. @ It is gain beyond calculation that business has seen and met its responsi- bility for the public welfare. Stocks had scarcely stopped crashing when the combined enginery of all industries was at work on plans for, not less—as after every other panic—but greater activity. @ All praise for the vision and initiative of the President. No such driving power had ever been applied by one man to the wheels of American business. @ From giving far too muc…

Citation

The Iron Age 1930-01-02: Vol 125 Iss 1. Reed Business Information US. 1930.