Book Description

Excerpt from Report of the Fifteenth Annual Meeting: January 18, 1940 By 1917 there came an upward surge of prices, labor scarcity with accompanying high wages, and abnormally high business activity as the result of an enlarged export demand for goods and a rapid expansion of credit. Today, with a cash-and-carry law, such foreign demand does not appear imminent, despite the fact that the Allied Powers have a relatively large gold reserve, and in addition substantial amounts of securities or credits in this and other countries. 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.