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ATLANTA BALTIMORE BOSTON BUFFALO CHARLOTTE CHATTANOOGA CHICAGO CINCINNATI CLEVELAND DALLAS DENVER DETROIT JACKSONVILLE KANSAS CITY LOS ANGELES MINNEAPOLIS NEWARK NEW ORLEANS NEW YORK PHILADELPHIA PITTSBURGH HASKINS & S E L LS CERTIFIED PUBLIC ACCOUNTANTS BULLETIN EXECUTIVE OFFICES 16 BROAD STREET. NEW YORK PORTLAND PROVIDENCE SAINT LOUIS SAN DIEGO SAN FRANCISCO SEATTLE TULSA WATERTOWN BERLIN LONDON MANILA PARIS SHANGHAI HAVANA MEXICO CITY MONTREAL VOL. XIII (QUARTERLY) N E W YORK, OCTOBER, 1930 No. 4 BUSINESS prognosticators tell us, in the daily press, that the immediate future of what is described as "general business" looks brighter; that trade "appears" to be climbing. Statistics relating to consumption of electric power, freight loadings, commitments for bituminous coal, building construction, automobile and steel output indicate, no matter how feebly, that the bottom "may have been reached." In the same columns one reads: "French and German Shares Drop on Reich Election Results," "London Stock Prices Forced Lower in August," "Leading Copper Producers Cut Price One-fourth Cent," "Member Banks Report Drop in Earning Assets," "Eighth Paper Mill Closed in U. S. by International." A British writer observes that "there is rather more hope in trade centers of some recovery in the autumn, especially if the outlook in India and China continues to improve." But conditions in China are unsettled and India is giving vent to her injured feelings by attempting to boycott British goods. Comparison of British Empire trade for the first six months of 1930 and 1929 shows results which are anything but satisfactory. Mr. Coolidge says capital is the largest factor unemployed at the present time. Such a situation is only logical. American manufacturers are apprehensive concerning foreign markets because of a falling off in demand due to retaliatory tariffs since America has become a producing country with an output in excess of domestic demand. So the condition of uncertainty goes on apace. But history proves that such conditions cannot continue indefinitely. Gradually world conditions will become adjusted. The effect of the new import and export tariff schedules will be apparent. American manufacturers will learn what may and what may not be done advantageously. Uncertainty will be replaced with at least a fair degree of certainty. Confidence will overcome fear. Prosperity will triumph over adversity. American ingenuity will ensure to America its fair share of world trade and profit. In the meantime, there is little perhaps which accountants may do to remedy conditions. But there is no reason why they should not maintain their usual poise. There is no reason why they should not be cheerful and optimistic for the future. There is no reason why they should not give their best thought to the individual problems of their clients. Accountants may not be able to overcome world forces, but they can keep themselves acquainted with economic developments and help to orient their clients' affairs in the situation as it appears at the moment. World Forces and Business
Object Description
Title |
World forces and business |
Author |
Anonymous |
Subject |
Depressions -- 1929 -- United States |
Citation |
Haskins & Sells Bulletin, Vol. 13, no. 04 (1930 October), p. 101 |
Date-Issued | 1930 |
Source | Originally published by: Haskins & Sells |
Type | Text |
Collection | Deloitte Digital Collection |
Digital Publisher | University of Mississippi Libraries. Accounting Collection |
Date-Digitally Created | 2009 |
Identifier | hs bulletin 13-p101 |