Word: carvers
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Dates: during 1920-1929
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...year of prosperity is ahead of us, according to T. N. Carver, Professor of Political Economy at the University. "There is no reason why 1920 should not be a very prosperous year," Professor Carver states. "A panic is very unlikely and undoubtedly will not take place unless some gross mistake is made with the national financial resources; and such a possibility is extremely unlikely...
Professor Carver stated that there is considerable danger of a great flood of emigration to this country due to the prevailing high wages here and the low wages abroad. "Of course we have our literacy restrictions," he commented, "but unless some other measures are taken American immigration will pass all bounds, and I think it very probable that such steps will be taken to prevent a flood of foreigners coming to this country...
Professor Carver commented on the economic results of the year 1919 as follows: "1919 has been a very peculiar year, and in many ways it has been a very prosperous year. Following, as it did, directly on the great war, there were conditions to be met and problems to be solved which had never been confronted before. Prices and wages both soared-to the advantage of some; to the detriment of others. Those who were most prosperous during the past year were the producing class, the heads of great industries. These men reaped enormous profits, charging practically any price...
...This exaggerated condition will not continue for long, I expect," concluded Professor Carver. "With the increase in European production and the equalizing of demand and supply we will gradually reach the normal conditions which existed before...