Word: exports
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Dates: during 1930-1939
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...from the mark; again, in the Fall of 1930, when the results of the elections caused another flight, and, finally, in the Summer of 1931, when even the moratorium failed to avert an acute financial arises which paralyzed German business. Certainly the inability of Germany to develop a large export surplus must be regarded as a major factor in precipitating the depression in 1929 and in intensifying the depression in the Fall of 1930 and the Summer...
...This failure to develop an excess of imports caused no acute difficulty while loans abroad continued in sufficient volume. But the export surplus was bound to draw gold to the United States in large quantities if, for any reason, the purchase of foreign securities should be seriously curtailed. Trouble started in 1929, when speculation in stocks destroyed the American in stocks destroyed the American market for foreign bonds. Gold began to enter the United States in great began to enter the United States in great volume--our net imports of gold in 1929 were about $120,000,000 causing...
...depression itself and the political unrest which accompanied it in many countries made American investors still more averse to foreign bonds and reduced the net American export of long-term capital in 1930 to one-third that of 1928. Consequently, when in 1930 one country after another was being forced off the gold standard, the United States, which already possessed a huge surplus of gold, drew about $278,000,000 more from the rest of the world...
James Augustine Farrell has been president of U. S. Steel Corp. for 21 years. He was selected for that position by the late, great John Pierpont Morgan. He was and is famed as "father" of the country's steel export trade. Son of a ship master who was drowned, Jim Farrell started work at 16 in a New Haven wire mill for $4.65 a week. Now his salary is $100,000 a year, his pension will be about...
...industry is beyond all question far worse off than before; from opposite sides of the globe rumble ominous rumors of the cartel's imminent dissolution. Last week the man-Thomas Lincoln Chadbourne-on the deck of the Berengaria announced: "I am quite certain that further limitations upon both export and production . . . will be made." But he was never more confident of his plan's ultimate success...