Word: recessional
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Dates: during 1930-1939
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Long before the 1938 recession gave U. S. -Japanese trade a final shove down grade, indignant U. S. buyers had begun to boycott Japanese goods, and long before the rape of Nanking Japanese sellers began to feel the pinch. Since Japan had only a pipsqueak gold hoard (published reserve then...
Lauch Currie probably comes nearer to having a passion for anonymity than any other New Deal adviser. First evidence of Currie's growing technical weight in Washington came in the spring of 1938, when he wrote an influential memo on the Causes of the Recession. Its prime theses, now...
Last December Secretary Henry Morgenthau Jr., who eight years ago was an agriculturist but now talks economics with some assurance, hooked his pince-nez on his nose and looked a twelvemonth ahead. Prosperity, he told his economic experts in the Treasury, would be back in 1939. By prosperity he meant...
> At the beginning of the 1937 recession, shrewd Sewell Lee Avery's Montgomery Ward management and other big U. S. distributors subordinated profit margins to sales volume, ever since have bargained with inventory-ridden manufacturers to sell them merchandise at recession prices. This contrasts with the practice of many...
But until railroads have money to invest they refuse to make money either for themselves or Baldwin by borrowing to buy new equipment. Should the New Deal, however, decide to fight Recession II by priming heavy industry instead of consumer purchasing power, it is likely to choose railroad equipment (either...