Word: slumps
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Dates: during 1930-1939
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Awaiting the start of a special session called before the current slump had been diagnosed as much more than a technical reaction in stocks, Franklin Delano Roosevelt spent the week much as Herbert Hoover spent November's second week eight years ago: holding conferences to find some way to halt the decline, to restore confidence throughout the land...
...deal with a five-point legislative program, the U. S. was, relatively speaking, economically content. The five weeks since have been just long enough to include the first serious decline in U. S. business since 1933. To the notable opportunities for controversy already foreseen for the special session, the slump added another. This week, when Vice President Garner in the Senate and Speaker William Bankhead in the House thumped their gavels for the first time since last August 21, they were as uncertain as the rest of the U. S. what the session would bring forth. First thing it brought...
...Stetson's book does not take account of the recent stockmarket and business slump. He pointed out last week, however, that sunspots diminished after Aug. 1 (two weeks before the market break) and did not resume their upclimb until last fortnight. He expects the current sunspot increase to continue for another year...
...glaring facts which forced a change of viewpoint were: 1) the stockmarket slump that had reduced paper values $25,000,000,000 in ten weeks; 2) growing fears of a major business recession. The results were: 1) an immediate move to give relief to Wall Street stock traders; 2) clear evidence that New Deal was giving thought to helping Business and Business was beginning to regret the bitter things it had said about New Deal spending. During the week, the Federal Reserve Board loosened margin requirements,, effective Nov. 1, thus carrying stocks through their steadiest week in two months...
...suddenly feeling a new pressure, not primarily from big business but from all those who fear a business recession-a force so general as almost to amount to a pressure of circumstances. For even the left wing of the New Deal was alarmed by the possibility of a slump and Franklin Roosevelt's attitude appeared to reflect a tacit change. Likewise modified was the attitude of many a business man who has groaned because of unhealthy Federal deficits. The President last week reiterated his intention of balancing the budget in 1939, had a long Hyde Park conference with Chairman...