Word: leveling
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Dates: during 1930-1939
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...with gas. Some of the sound is absorbed by the walls instead of by the gas, but this is calculated and discounted. The sound is picked up by a microphone, amplified, converted into electric current which causes a bulb to glow. If the sound has decayed beyond a certain level the current produced is insufficient to light the bulb. The time is measured between the cessation of tone production and the point in decay at which there is just enough current to cause the glowing of the bulb...
...Carloadings registered a drop to 650,000-only 8,000 cars above the 1932 level, although in the third quarter they were running 100,000 cars ahead...
...economy is founded on price, and the role of the producer is, even under normal conditions, to keep wages as low as the traffic will bear, while the aim of the worker is to push them as high as he can. Even a small depression in the price level creates a sharp problem in that balance; and when, as is happening today, the producer finds he can make no such concessions as the workers demand, a crisis in the labour market results. Until the abolition of private ownership in production harmonizes the interests of the worker and the producer...
...foreign currencies, though, to be sure, this may be the inevitable result of the decision to buy gold in London or elsewhere. By this time foreign governments and central banks know the United States has no designs on their currencies and is chiefly concerned in raising the domestic price level...
America can control the world gold price and force the British pound to a different level and even the franc from its moorings. But when this has been achieved, the real point at issue will be whether American commodity prices have been materially improved. Those that are international, like wheat and cotton, will go up as does gold. Other products will depend in the future, as in the past, on the demand for them. And demand depends on confidence and spending power, both of which have not yet come with full force in the domestic program of the administration