Word: marketing
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Dates: during 1930-1939
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...Great Depression sank in, many a layman and many a sociologist pondered on what the next ten years would bring. Rightly they foresaw a decade of struggle, of widespread distress, of mounting tension. Hopefully some of them dreamed of a return of the bull market whose knell was sounded when the clang of the bell ended trading on Oct. 24. Gloomily, more of them saw ruin ahead, riots, revolution, convulsions and crisis. On schedule the tests of U. S. strength arrived: unemployment increased, banks failed, riots shook the country...
...left in the way of wits, worldly goods and political institutions, looked impressive. No catalogue could communicate the wealth of U. S. natural resources, no two experts could wholly agree about the maze of surplus commodities, farm income, legislative measures, mortgages, Government loans, the export market, yield per acre, drought and erosion, that is known as the agricultural problem. But in simple, physical terms, the U. S. still had, after ten years of Depression...
...commercialism generally applied to it. If the iron ore of the Mesabi made it inevitable that there should be a vast steel industry in the U. S., the first glimpse of the Rockies, steel-blue and airy, made it inevitable that there would always be a U. S. market for pack saddles; and the first glimpse of the Yellowstone or the Shoshone bounding down the endless rapids insured the making of canoes. The Pursuit of Happiness that surges through American history as deeply as the protection of life and liberty, that remained alive even through the heartbreaking days...
When the crop came to market late this summer, prices staggered "under the surplus. By September 8, farmers were in a funk; the bellowing auctioneers were knocking down the tobacco at 14½?. Then Britain's big Imperial Tobacco Co., which normally buys a third of the flue-cured crop, stepped out of the market. For one more week the farmers hung on and watched their crops going at ever lower prices. When prices broke through 11? (half of last year's price), they desperately closed the markets...
...further advances in production. They noted that, whereas the bottleneck in steel (TIME, Oct. 2) might slow down an unhealthy scramble for unneeded steel, a bottleneck in shipbuilding would certainly slow down one of the key capital goods industries they have been relying on to take steel off the market-if Congress decides that the U. S. does need ships...