Word: upturn
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Dates: during 1930-1939
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Many such boomlets had been reported off & on during the Depression. Traders looked for profit-taking-some of which took place. But in last week's bullishness there was more than a mere hope because prices and indices had shown a little upturn. There was the beginning of the attitude: what now if not inflation? Either inflation because commodity prices would be turned upward by natural and governmental stimuli; or inflation because the Government is committed to spending billions, must float bond issues to reopen banks, save mortgagors, provide relief and a dozen other costly enterprises. Or inflation because...
...informed and able man is entirely in the hands of politicians who concentrate only on their present term of office with especial reference to its effect on the possibilities of reelection. Under the conditions which Senator Nicholson advocates, it is hard for one to visualize any definite upturn in the calibre of governmental officialdom...
...Stars. As proof of an economic-upturn, President Hoover cited ten stars in the murk since the Depression's low: 1) return from abroad of $300,000,000 in gold; 2) return of $250,000,000 in currency from domestic hoarding; 3) 20% increase in bond values; 4) 10% increase in manufacturing production; 5) increased building contracts; 6) a jump in weekly car loading from 490,000 to 650,000; 7) 22% increase in foreign trade; 8) improved agricultural prices ("though they are still hideously low") ; 9) "bank failures have almost ceased"; 10) increased manufacturing employment...
...Business is just poking its nead up. Hoover is largely responsible for this upturn, and I shall vote for him," declared J. H. Beale, Royall professor of Law, in an interview with a CRIMSON reporter yesterday. "True, business is very shaky, but a change in administrations at this time would spread economic fear over the breadth of the land. Uncertainty with regard to tariff, the currency, expenditures, and trade proposals that a change would necessarily bring to the country would turn us back into the extreme emergency from which we are now slowly emerging...
...friends in industry tell me that everything points to the gradual upturn that has been brought about by a constructive confidence built up by President Hoover. Students in the University repeat this new confidence that is felt over the country. To disrupt this feeling by an administrative change would be bound to freeze the entire financial system of the nation. Since the time of John Quincy Adams, there has been no president so tactless and as unattractive as Hoover. However, he has the ability to lay great plans and to accomplish important measures for the good of the country...