Book Description

Excerpt from Annual Report of the Secretary of the Treasury on the State of the Finances: For the Fiscal Year Ended June 30, 1915; With Appendices It must be a source of profound satisfaction to the people of the United States, regardless of political affiliations, to contrast the conditions to-day with those prevailing in this country in December, 1914. Then the country was just recovering from the terrific shock of the European disaster. We had gone through months of serious, if not critical, experiences. A country-wide panic of appalling proportions was threatened but averted. We had emerged with our credit not only unimpaired but strengthened. Our sound economic foundation had been preserved and fortified, and we were fully prepared to meet the exigencies of the future because we had recovered our confidence and were conscious of our power. The European war produced inevitable suffering in this country as well as in Europe. Our industrial situation was, for a time, seriously hurt, and the cotton-growing States of the South sustained heavy losses through declines in the price of cotton. Every power of the Government was exerted to mitigate the situation, and I believe that it is not inexact to say that but for the active agency of the Government in protecting and conserving the business interests of the country during that critical period grave disaster would have resulted. It is a pleasure to acknowledge that the efforts of the Government were seconded and supported by the earnest and patriotic cooperation of the business interests of the country. What extraordinary results have been achieved in the brief period since December, 1914! During the year there has been a steady, healthy, forward movement in every line of activity, until now prosperity has been firmly established throughout the country. Mr. A. W. Ferguson, general manager of the mercantile agency of R. G. Dun & Co., in a special report he was courteous enough to make November 12, 1915, upon request of the Secretary of the Treasury, says: That the business boom has become nation-wide is a fact made clear by reports from the leading centers in every section. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.