Word: booming
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Dates: during 1920-1929
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Lowden. The former Governor of Illinois, Frank 0. Lowden, quietly , nursed his boom, which may get him the Republican nomination if the other aspirants lock horns. At New Orleans he encountered Governor Parker of Louisiana. A reporter approached Mr. Lowden and asked about his candidacy. The gentleman from Illinois shoved out his hat. " See this," he demanded, " right in my hand?that's where my hat is?and it's going to stay there...
...alcoholic beverage, of necessity is a jackass statute." That the country and Congress would vote Dry-except for New York, New Jersey, Pennsylvania. That "Governor Pinchot [page 5] has endeared himself to the hardware trade with his talk of padlocks [for saloon doors]. I predict there will be a boom in that commodity in the Keystone State." Senator Oscar W. Underwood of Alabama is the only Democratic candidate whose boom for the Presidential nomination is openly and actively under way. His enterprising political manager issued an "Underwood map" of the U. S., in which ten Southern states are marked...
...prices mean curtailed consumption. Today the very merchants who sought to stabilize prices in the depression of 1921 are seeking to elevate them to unjustifiable heights. It is true that our merchants have not this Fall laid in the heavy stocks which rested on their shelves when the 1920 boom collapsed, but from the consumer's standpoint this only means that he is charged high prices for little diversified stocks...
...reaching a climax speculatively in 1919-20, however, the acceptance business began to decline. First, the widely-urged trade acceptance went into the discard; next, the volume of bankers acceptances sharply diminished. One by one, the acceptance firms which had blossomed in the great days of our foreign trade boom four years ago lost their earlier enthusiasm. Some went over wholesale to the bond business...
...depressions, however, have always followed big "booms," while little depressions have come in the wake of short and spasmodic periods of prosperity. The near-boom of 1922-23 therefore seems destined to be followed by a near-depression in 1923-24. But our banking position is impregnably strong, Europe is recovering, prices long out of line are being gradually readjusted. Business must take its medicine next year, in all probability, but it will not be anything like as bitter a dose as was swallowed...