DOCSLIB.ORG

Annual Report 1924

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 1924 ANNUAL REPORT OF THE OF THE FEDERAL TRADE COMMISSION FOR THE FISCAL YEAR ENDED JUNE 30, 1924 WASHINGTON GOVERNMENT PRINTING OFFICE 1924 FEDERAL TRADE COMMISSION HUSTON THOMPSON, Chairman. VERNON W. VAN FLEET. NELSON B. GASKILL. JOHN F. NUGENT. CHARLES W. HUNT. OTIS B. JOHNSON, Secretary. II CONTENTS. Page. Introduction 1 Administrative Division 4 Personnel 4 Fiscal affairs 6 Publications 8 Docket 9 Library 9 Quarters 9 Legal Division 10 Federal Trade Commission Act 10 Clayton Act 11 Summary 13 Methods of competition condemned 15 Special legal inquiries 19 Gasoline 19 Radio 19 Procedure and statistics on legal work 20 Preliminary inquiries 20 Applications for complaints 22 Complaints, including orders to cease and desist 24 Dismissal of complaints 26 Typical complaints 28 Monopoly--Radio 28 Conspiracy--Farm machinery 29 Price fixing--Tobacco 29 Price maintenance--Groceries 29 Price fixing--Coal 30 Misbranding--Soap 30 Misbranding--Silver plate 30 False advertising--Furniture 30 Stifling competition--Stationery 31 Photoengravers’ case 31 Austin Nichols & Co.--Groceries 31 Motion picture 32 Cream of wheat 32 Bethlehem-Lackawanna steel merger 32 Pittsburgh Coal Co. of Wisconsin 33 Corn Products Refining Co.-Table sirup 33 Orders to cease and desist 34 Typical orders 36 United States Steel Corporation 36 Minneapolis Chamber of Commerce 40 Eastman Kodak Co 41 United Typothetae of America 42 Roofing material cases 43 Pacific States Paper Trade Association 43 Encyclopedia 43 Underwear 44 Process engraving 44 Court cases 44 Supreme Court 44 Juvenile Shoe Co 45 Claire Furnace Co 45 American Tobacco Co. and P. Lorillard Co 46 Grain cases 47 Raymond Bros--Clark Co 47 United States Circuit Courts of Appeals 48 Fox Film Corporation 48 United Typothetae of America 50 III IV CONTENTS Legal Division--Continued. Court cases--Continued. United States Circuit Courts of Appeals--Continued. Page S. E. J. Cox et al 50 Aluminum case 51 Thatcher Manufacturing Co. 52 Swift & Co 52 Armour & Co 53 Chicago Portrait Co 53 Western Meat Co 54 Minneapolis Chamber of Commerce 55 Butterick Co 55 Occidental Oil Corporation 55 Resale he pr ice maintenance in tobacco products 56 Pacific States Paper Trade Association 56 Utah-Idaho Sugar Co 57 Q. R. W. Music Co 58 Sealpax Co. Underwear 58 Dr. Herman an Heuser--Nonalcoholic beverages 59 The Pearsall Butter Co 59 John Bene & Sons 59 National Biscuit and Loose-Wiles Cos. 60 Courts of the District of Columbia 61 Mannered Coal Co 61 Shade Shop 61 Legal work of the commission by fiscal years (table) 62 Court proceedings upon orders (table) 63 Miscellaneous court proceedings, etc. (table) 63 Trade practice submittals 65 Music Publishers’ Association 66 Subscription Book Publishers’ Association 68 Band Instrument Manufacturers 70 Economic Division 75 Gasoline 79 Cotton trade 80 Taxation and tax-exempt income 82 Flour milling 84 Grain trade 87 House furnishings 88 Anthracite 90 Bread 90 Cooperation with Legal Division 91 Aid to other branches of the Government 91 Senate Committee on Public Lands 91 United States Coal Commission 91 Inquiries made at request of the Congress, the President, or the Attorney General 92 Fertilizer--Pipe lines--Gasoline--Sisal hemp 92 Anthracite--Bituminous coal 92 Newsprint paper--book paper--Flags--Meat packing 93 Farm implements--Milk 93 Cotton yarn--Pacific-coast petroleum--Petroleum prices 94 Commercial feeds--Sugar--Southern livestock 94 Shoe costs amid prices--Tobacco prices 94 Tobacco prices--Export grain--House furnishings 95 Flour milling--Cotton trade--Fertilizer 95 Foreign ownership in petroleum industry 96 Cotton trade--Calcium arsenate--Radio 96 Bread--Cotton merchandising practices--Food inquiry 97 War-time cost findings-Wheat prices 97 Gasoline--Raisins--Lumber industry 98 Export Trade Division 99 Associations under the Webb Export Trade Act 99 Provisions of the export trade act 101 Provisions of section 6 (h) of the Federal Trade Commission act 102 Foreign trade complaints investigated 103 Liaison committee representation 104 Trading with enemy act 105 CONTENTS V EXHIBITS Page l. Federal Trade Commission act 109 2. Provisions of the Clayton Act 115 3. Export trade act 119 4. Rules of practice before the Federal Trade Commission 121 5. National Biscuit ease 125 6. B. S. Pearsall case 131 7. John Bene & Sons 134 8. American Tobacco case 139 9. Raymond Bros--Clark Co. case 142 10. Fox Film Corporation 145 11. Proceedings disposed of during the year 149 Orders to cease and desist 149 Cases dismissed 189 12. Proceedings pending June 30, 1924 195 ANNUAL REPORT OF THE FEDERAL TRADE COMMISSION FOR THE FISCAL YEAR ENDED JUNE 30, 1924 INTRODUCTION To the Senate and House of Representatives: Pursuant to statute the Federal Trade Commission herewith submits to the Congress its annual report for the fiscal year July 1, 1923, to June 30, 1924. The commission, which was created by an act of Congress approved September 26, 1914, was organized March 16, 1915. The present is the tenth annual report to Congress. On June 30, 1924, the commission consisted of Huston Thompson, of Colorado, chairman; Vernon W. Van Fleet, of Indiana, vice chairman; Nelson B. Gaskill, of New Jersey; John F. Nugent, of Idaho; and Charles W. Hunt, of Iowa. Mr. Hunt entered upon duty on June 16, 1924, to succeed Victor Murdock, of Kansas, who resigned as of January 31, 1924. Of the work accomplished during the year special mention is made of : (l) The order to cease and desist issued against the United States Steel Corporation and its subsidiaries requiring discontinuance of the Pittsburgh plus basing point for steel; (2) Report to the President on the Gasoline Situation in 1924; (3) Report to the House of Representatives on the Radio Industry; (4) Report to the Senate on the Cotton Trade, and dealing chiefly with the operations of cotton exchanges and marketing conditions. The commission here reports its administration of the Federal Trade Commission act, approved September 26, 1914 (38 Stat. 717) ; delegated sections of the Clayton Act, approved October 15, 1914 (38 Stat. 730); and the export trade act, approved April 10, 1918 (40 Stat. 516). The work goes steadily forward. The law of unfair competition is being developed with resulting clarity in the channels of trade, valuable and pertinent facts relating to economic subjects amid business matters are being gathered and published, and the export trade act having to do with associations engaged solely in export trade is being administered. Most pressing is the increasing demand upon the energies of the commission are the field of unfair competition. To this demand relief to the utmost is afforded, but the figures tell the story of efforts only partially effective because of lack of men and money. And the calendar of cases undisposed of at the end of the year does not diminish. A 10-years’ view of the deception, bad faith, fraud, and oppression l 2 ANNUAL REPORT OF THE FEDERAL TRADE COMMISSION of which the business world and the public complain teaches that the certain and speedy challenge of this commission to such practices is the effective remedy. But the commission must report a docket of cases grown old and age necessitates reinvestigation by reason of changed conditions or customs and the unknown whereabouts some of whom may be dead. Therefore a case grown witnesses, of old not only adds costs not contemplated, but, more serious, the remedy is postponed or fails. Coming to the economic duties, two precedents are recorded. First, a deficiency was asked through appropriate agencies, and second, an inquiry respecting flour and bread under a Senate resolution could not be commenced because funds were not available, and the Senate was so informed. The request for deficiency appropriation was submitted in order to respond to the call of the President of the United States £or an “immediate” inquiry into the gasoline situation. The deficiency was refused, but the inquiry was made by delaying current work, and the report submitted. The inquiry into the production and distribution of flour and bread, called £or by the Senate resolution, while considerably delayed, is now under way. Otherwise the economic work and likewise the work connected with the export trade associations has been normal. Briefly, the commission has been engaged during the year, as heretofore, in the prevention of unfair methods of competition in domestic and foreign commerce, in the elimination of practices which substantially lessen competition or tend to create monopoly, and in gathering and publishing facts for the information of the President, the Congress, and the public with respect to the economic phases of domestic industry and foreign trade. Differently stated, the commission’s duty is to sustain those practices which support the competitive system, as opposed to monopoly, in furtherance of the fundamental object of Congress in the enactment of the Federal Trade Commission Act and the Clayton Act. The commission has sought to protect the public against those methods described by the Supreme Court in the Grata case as (l) methods opposed to good morals because characterized by deception, bad faith, fraud, or oppression, and/or (2) methods regarded as against public policy because of danger- ous tendency unduly to hinder competition or create monopoly. The work for the year covered the entire scope of the trust problem and related subjects. It reached from the simplest form of unfair methods of competition on through all phases to the more complex question of trust dissolution. These activities touched the whole range of commerce--raw materials, manufacturing, wholesaling, retailing, exporting, manipulation of markets and, as representing the public interest, consumption. The whole trust problem INTRODUCTION 3 can be approached satisfactorily only by approaching it on the economic as well as the legal side. Activities in both these fields as disclosed in the report here given register an advance in an understanding of the matter.
Load more

Recommended publications
  • Survey of Current Business October 1924
    MONTHLY SUPPLEMENT TO COMMERCE REPORTS UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS OCTOBER, 1924 No. 38 COMPILED BY BUREAU OF THE CENSUS BUREAU OF FOREIGN AND DOMESTIC COMMERCE BUREAU OF STANDARDS IMPORTANT NOTICE In addition to figures given from Government sources9 there are also incorporated for completeness of service figures from other sources generally accepted by the trades, the authority and responsibility for which are noted in the "Sources of data9' at the end of this number Subscription price of the SURVEY OF CURRENT BUSINESS is* $1.50 a year; single copies (monthly), 10 cents, quarterly issues, 20 cents. Foreign subscriptions, $2.25; single copies (monthly issues) including postage, 14 cents, quarterly issues, 31 cents. Subscription price of COMMERCE REPORTS is $4 a year; with the Survey, $5.50 a year. Make remittances only to Superintendent of Documents, Washington, D. C, by postal money order, express order, or New York draft. Currency at sender's risk. Postage stamps or foreign money not accepted. ^v - WASHINQTON : GOVERNMENT PRINTING OFFICE : 1994 INTRODUCTION The SURVEY OF CURRENT BUSINESS is designed to period has been chosen. In a few cases other base present each month a picture of the business situation periods are used for special reasons. In all cases the by setting forth the principal facts regarding the vari- base period is clearly indicated. ous lines of trade and industry. At quarterly intervals The relative numbers are computed by allowing the detailed tables are published giving, for each item, monthly average for the base year or period to equal monthly figures for the past two years and yearly com- 100.
    [Show full text]
  • Records of the Immigration and Naturalization Service, 1891-1957, Record Group 85 New Orleans, Louisiana Crew Lists of Vessels Arriving at New Orleans, LA, 1910-1945
    Records of the Immigration and Naturalization Service, 1891-1957, Record Group 85 New Orleans, Louisiana Crew Lists of Vessels Arriving at New Orleans, LA, 1910-1945. T939. 311 rolls. (~A complete list of rolls has been added.) Roll Volumes Dates 1 1-3 January-June, 1910 2 4-5 July-October, 1910 3 6-7 November, 1910-February, 1911 4 8-9 March-June, 1911 5 10-11 July-October, 1911 6 12-13 November, 1911-February, 1912 7 14-15 March-June, 1912 8 16-17 July-October, 1912 9 18-19 November, 1912-February, 1913 10 20-21 March-June, 1913 11 22-23 July-October, 1913 12 24-25 November, 1913-February, 1914 13 26 March-April, 1914 14 27 May-June, 1914 15 28-29 July-October, 1914 16 30-31 November, 1914-February, 1915 17 32 March-April, 1915 18 33 May-June, 1915 19 34-35 July-October, 1915 20 36-37 November, 1915-February, 1916 21 38-39 March-June, 1916 22 40-41 July-October, 1916 23 42-43 November, 1916-February, 1917 24 44 March-April, 1917 25 45 May-June, 1917 26 46 July-August, 1917 27 47 September-October, 1917 28 48 November-December, 1917 29 49-50 Jan. 1-Mar. 15, 1918 30 51-53 Mar. 16-Apr. 30, 1918 31 56-59 June 1-Aug. 15, 1918 32 60-64 Aug. 16-0ct. 31, 1918 33 65-69 Nov. 1', 1918-Jan. 15, 1919 34 70-73 Jan. 16-Mar. 31, 1919 35 74-77 April-May, 1919 36 78-79 June-July, 1919 37 80-81 August-September, 1919 38 82-83 October-November, 1919 39 84-85 December, 1919-January, 1920 40 86-87 February-March, 1920 41 88-89 April-May, 1920 42 90 June, 1920 43 91 July, 1920 44 92 August, 1920 45 93 September, 1920 46 94 October, 1920 47 95-96 November, 1920 48 97-98 December, 1920 49 99-100 Jan.
    [Show full text]
  • The Foreign Service Journal, May 1924 (American Consular Bulletin)
    Photo by Monje THE HARBOR AND TOWN OF VIGO, SPAIN MAY, 1924 ^II11111111111111111111111 n 1111111111111111111111n111111111111111111ii111H1111iii■i■i■1111111■111n11111n n i!n 1111111111111111! 1111111111 n I i 111111 11111111 ■ Washington’s Department Store or Finance Modern Banking demands prompt and efficient methods for the transaction of daily matters Banking by Mail Foreign Exchange Letters of Credit Travelers Checks Commercial Accounts Savings Accounts Trust Department and a friendly interest in each depositor has made our Bank a leader among Washington’s Financial Institutions We shall be glad to render any possible aid and assure you of a friendly interest Federal-American National Bank WASHINGTON, D. C. RESOURCES, $14,000,000.00 W. T. GALLIHER, Chairman of the Board JOHN POOLE, President Illllllllillllllillllmiiiilllllllllllliiiiiiiiiiiiiiiiiiiniimiimiiiiiiimiiiiiimiiniiiimiiiiiiiillll imiiiiiillilliiiiiiiimiiiiiiiiiiiiiillllllllllliiiimiiiillllliiiiiiiimiiiilliiiiiiiNI ~ Press of Ransdell Incorporated Washington, D. C. 1* CONSUL; LLETIN PUBLISHED MONTHLY BY THE AMERICAN CONSULAR ASSOCIATION VOL. VI. No. 5 WASHINGTON, D. C. MAY, I 924 A Contrast in Light and Shade By FRANK P. S. GLASSEY, Helsingfors ASNOW-covered city, muffled by a white may be thawed out before a cheery wood fire in cloak and shivering under a lowering a beneficent Finnish tile stove. gray sky—such is Helsingfors on almost Even the broad esplanade is almost empty, any January day. and the only sounds to echo through the sharp A city of darkness and brooding twilight, air are the bright tinkle of the bells on a where the sun rises hesitatingly at 9 o’clock and droshky as it glides smoothly and rapidly over the then follows a quick course, always near the snow, or the deep guttural warning affected by horizon, until it sinks rapidly again in mid-after¬ the driver as his horse makes a sharp turn at noon, as if eager to be on its way to a more some corner.
    [Show full text]
  • 'Olony and Protectorate of Kenya
    THE OFFICIAL GAZETTE OF THE ‘OLONY AND PROTECTORATE OF KENYA. Published under the Authority of His Excellency the Governor of the Colony and Protectorate of Kenya. (Vol. XXVI.—No. 952| NATROBI, June 1], 1924.. [Price 50 Cents| Registered as a Newspaper at the G. P. 0. | Published every Wednesday. TABLE OF CONTENT S. PAGE. (to vt, ” Notice No. 203—Arrivals, Departures and Appointments, etc. a 534 x 2 ” 204—A Bill Intituled An Ordinance to Amend the Divorce Ordinance, 1908 hae 539 Proclamation No, 100—The Customs Ordinance, 1910,Proclamation. 536 Govt. Notice No. 205— ,, » Do » ules 536 536 33 a7 33 206—The Liquor (Amendment) Ordinance, 1923,— Plateau Licensing Area 33 33 a2 207—Confirmation of Ordinances—XXIT and XXXVI of 1923 537 Proclamation No. 101—-The Diseases of Animals Ordinance, 1906 5387 102—The Diseases of Animals Ordinance, 1906 ” 33 3 537 103——-The Diseases of Ai imals Ordinance, 1906 3) 33 ” 537 ” ” 23 104—The Diseases of Animals Ordinance, 1906 538 Govt. Notice No. 208—The Liquor (Amendment) Ordinance, 19238Appointment of Members of Plateau Licensing Court . 538 33 a3 33 209-——The Commission of Inquiry Ordinance, 1912Appointment 538 oy 9 210—The Municipal Corporations Ordinance, 1922-—-Appointment 538 a 3} 3? 211—The Liquor (Amendment) Ordinance, 1923 539 539 af a) a) 212—-Executive Council_—Appoimtment 539 at a? 32 213—The Native Registration Ordinance, 1921—Appointment... 214— ” ” » 1921—Appoimtment 539 3} oe] 7 M2 ” 215—The Native Authority Ordinance, 1912,—Appointment 539 Gen. Notices Nos. 450-462—Miscellaneous Notices .. 009-042 534 THE OFFICIAL GAZETTE June 11, 1924, GOVERNMENT Notice No.
    [Show full text]
  • The Foreign Service Journal, September 1924
    AMERICAN Photo submitted by W. W. Schott THE TWELFTH CENTURY CATHEDRAL AT PALERMO Vol. VI SEPTEMBER. 1924 No. 9 FEDERAL-AMERICAN NATIONAL BANK NOW IN COURSE OF CONSTRUCTION IN WASHINGTON, D. C. W. T. GALLIHER, Chairman of the Board JOHN POOLE, President RESOURCES OVER $13,000,000.00 LLETIN JSlUn.; PUBLISHED MONTHLY BY THE AMERICAN CONSULAR ASSOCIATION VOL. VI. No. 9 WASHINGTON, D. C. SEPTEMBER, 1924 Speech By Mr. Grew THE day on which I took my first bath before I can assure you that the new Association will a Diplomatic or Consular officer and pro¬ receive the very warm and hearty support of the ceeded to my post (with apologies to the members of the diplomatic branch of the Service. last number of the BULLETIN) I experienced two I have always taken particular satisfaction in distinct feelings; one of pleasure and satisfaction the fact that my first post was a consular one and at entering this great service of ours and the other that I spent two years gaining familiarity with the of something bordering on consternation at the work of that branch of the Service. I shall never prospect of the ordeal of the bath. I find my¬ forget the youthful pride with which I first saw self today experiencing much the same feelings—- a report of mine on Egyptian cotton published in great pleasure and satisfaction in the enjoyment the Trade Bulletins: true, several nights of work of your very kind and courteous hospitality, which and many pages were boiled down to five or six I highly appreciate and for which I warmly thank lines of print, but I felt then that I had become you, and the other feeling of trepidation at the at least a modest member of the great army of prospect of trying to justify my presence here by experts who keep our country informed of com¬ telling you something of interest.
    [Show full text]
  • Official Gazette Colony and Protectorate of Kenya
    THE OFFICIAL GAZETTE OF THE COLONY AND PROTECTORATE OF KENYA. Published under the Authority of His Excellency the Governor of the Colony and Protectorate of Kenya. [Vol. XXVL—No. 922] NATROBI, January 2, 1924. [Prices 50 Cenrs] Registered as a Newspaper ai the G. P. 0. Published every Wednesday. TABLE OF CONTENTS. PAGE Govt. Notice No, 1—Appointments ves vee ves .. wes vee 2 » 0 ’ 2—A. Bill intituled an Ordinance to Amend the Legislative Conncil Ordinance, 1919 ce Le . Lee . BA4 ” ” ” 3—A Bill intituled an Ordinance to Amend the Native Liquor Ordinance, 1921 wee vee a Lee vee 4 Proclamation No, 1—The Kenya and Uganda (Currency) Order, 1921... vee bee 4 Proclamation No. : 2—The Diseases of Animals Ordinance, 1906 . 5 Govt. Notice No. 4——-Public Health Ordinance, 1921—Notiee ... a vee wes 5 »»» 5-6—The Native Authority Ordinance, 1912—Appointments of Oficial Headmen bee Lee Le ves vee vee 3 Gen. Notices Nos. 1-11—Miscellaneeus Notices ... ve Lee i _ we 5H 2 THE OFFICIAL GAZETTE January 2, 1924. Government Notice No. 1. APPOINTMENTS. W. McHarpy, 0.B.E., M.A., to be Superintendent (Admin- 5. 18816 /930. istrative), Uganda Railway, with effect from Ist January, Guorce Eenest Scarrercoop, to be Accountant, Medical 1924. Department, with effect from the 24th July, 1923. _ A. G. Hicerns, to be Secretary to the Railway Council and CG. M. Bunsury, to be Senior District Engineer, Uganda Private Secretary to the General Manager, Uganda Rail- Railway, with effect from Ist January, 1924. way, with effect from Ist January, 1924.
    [Show full text]
  • Loeb-Leopold Murder of Franks in Chicago May 21 1924 Richard Loeb
    Journal of Criminal Law and Criminology Volume 15 | Issue 3 Article 4 1925 Loeb-Leopold Murder of Franks in Chicago May 21 1924 Richard Loeb Follow this and additional works at: https://scholarlycommons.law.northwestern.edu/jclc Part of the Criminal Law Commons, Criminology Commons, and the Criminology and Criminal Justice Commons Recommended Citation Richard Loeb, Loeb-Leopold Murder of Franks in Chicago May 21 1924, 15 J. Am. Inst. Crim. L. & Criminology 347 (May 1924 to February 1925) This Article is brought to you for free and open access by Northwestern University School of Law Scholarly Commons. It has been accepted for inclusion in Journal of Criminal Law and Criminology by an authorized editor of Northwestern University School of Law Scholarly Commons. THE LOEB-LEOPOLD MIURDER OF FRANKS IN CHICAGO, TMAY 21, 1924 [The kidnapping and murder of Robert Franks by Richard Loeb and Nathan Leopold, Jr., in Chicago, Illinois, on May 21, 1924, aroused worlc-wide interest-at first because of the contrast between the social status of the murderers and the callous cruelty of the deed, but afterwards because of the psychiatric testimony offered by the defense at the hearing for a mitigated sentence. The complete testimony taken fills a thousand or more typewrit- ten pages (the confessions alone, in the stenographic transcript, amount to three hundred pages); and the JOURNAL is not the place for printing this record. But criminologists everywhere are interested in the psychiatrists' reports, for this is probably the first instance of the offer of elaborate psychiatric analyses as the basis for remitting the law's penalty for a calculated, cold-blooded murder, committed by persons not claimed to be insane or defective in any degree recog- nized by the law as making them not legally responsible.
    [Show full text]
  • Review of Economic Conditions, 1924-1933
    This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: German Business Cycles, 1924-1933 Volume Author/Editor: Carl T. Schmidt Volume Publisher: NBER Volume ISBN: 0-87014-024-8 Volume URL: http://www.nber.org/books/schm34-1 Publication Date: 1934 Chapter Title: Review of Economic Conditions, 1924-1933 Chapter Author: Carl T. Schmidt Chapter URL: http://www.nber.org/chapters/c4934 Chapter pages in book: (p. 25 - 114) CHAPTER TWO REVIEW OF ECONOMIC CONDITIONS, 1924—1933 A. The Course of the Post-Inflation Business Cycles 1.DEPRESSION,HALTING REVIVAL, DEFINITE RECOVERY, 1924-1925 Thestabilization of German currency tore aside the dense veil of paper marks that had obscured the Various business journals, monographs and official reports constitute the source for the materials presented in Part A. Particularly suggestive were Reports of the Agent General for Reparation Payments, 1925—30 (Berlin,1925—30); James W. Angell, The Recovery of Germany; Institut für Konjunkturforschung, Vierteljahrshefte zur Konjunkturforschung, \'ols. '—7 (Reimar Hobbing, Berlin, 1926—32); Fritz Naphtaii, Abbau und Aufbau: Rückblick auf das Wirtschaftsjahr 1925 So- cietats-Druckerei, Frankfurt a.M., 1926); Reichskreditgesellschaft, A-G., Germany's Economic Development, semi-annual analyses, 1926—32 (Ber- lin, 1926—32); C. L. Roedler, Grundzuge der deutschen K,onjunhturbeweg- ung, 1920—25(Frankfurta.M., 1926); Erich Welter, Wachstum: Die deutsche Wirtschaft im Jahre 1927; and Stockung: Die Wirt- schaft im Jahre 1929(FrankfurterSocietäts-Druckerei, Frankfurt a.M., 1928 and 1930); also Dreifache Krise... (Societäts-Verlag,Frankfurt a.M., 1931). 25] features of German economy.
    [Show full text]
  • The Ends of Four Big Inflations
    This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Inflation: Causes and Effects Volume Author/Editor: Robert E. Hall Volume Publisher: University of Chicago Press Volume ISBN: 0-226-31323-9 Volume URL: http://www.nber.org/books/hall82-1 Publication Date: 1982 Chapter Title: The Ends of Four Big Inflations Chapter Author: Thomas J. Sargent Chapter URL: http://www.nber.org/chapters/c11452 Chapter pages in book: (p. 41 - 98) The Ends of Four Big Inflations Thomas J. Sargent 2.1 Introduction Since the middle 1960s, many Western economies have experienced persistent and growing rates of inflation. Some prominent economists and statesmen have become convinced that this inflation has a stubborn, self-sustaining momentum and that either it simply is not susceptible to cure by conventional measures of monetary and fiscal restraint or, in terms of the consequent widespread and sustained unemployment, the cost of eradicating inflation by monetary and fiscal measures would be prohibitively high. It is often claimed that there is an underlying rate of inflation which responds slowly, if at all, to restrictive monetary and fiscal measures.1 Evidently, this underlying rate of inflation is the rate of inflation that firms and workers have come to expect will prevail in the future. There is momentum in this process because firms and workers supposedly form their expectations by extrapolating past rates of inflation into the future. If this is true, the years from the middle 1960s to the early 1980s have left firms and workers with a legacy of high expected rates of inflation which promise to respond only slowly, if at all, to restrictive monetary and fiscal policy actions.
    [Show full text]
  • Yesterday's News: Media Framing of Hitler's Early Years, 1923-1924
    92 — The Elon Journal of Undergraduate Research in Communications, Vol. 6, No. 1 • Spring 2015 Yesterday’s News: Media Framing of Hitler’s Early Years, 1923-1924 Katherine Blunt Journalism and History Elon University Abstract This research used media framing theory to assess newspaper coverage of Hitler published in The New York Times, The Christian Science Monitor, and The Washington Post between 1923 and 1924. An analysis of about 200 articles revealed “credible” and “non-credible” frames relating to his political influence. Prior to Hitler’s trial for treason in 1924, the credible frame was slightly more prevalent. Following his subsequent conviction, the non-credible frame dominated coverage, with reports often presenting Hitler’s failure to over- throw the Bavarian government as evidence of his lack of political skill. This research provides insight into the way American media cover foreign leaders before and after a tipping point—one or more events that call into question their political efficacy. I. Introduction The resentment, suspicion, and chaos that defined global politics during the Great arW continued into the 1920s. Germany plunged into a state of political and economic turmoil following the ratification of the punitive Treaty of Versailles, and the Allies watched with trepidation as it struggled to make reparations pay- ments. The bill — equivalent to 33 billion dollars then and more than 400 billion dollars today — grew increas- ingly daunting as the value of the mark fell from 400 to the dollar in 1922 to 7,000 to the dollar at the start of 1923, when Bavaria witnessed the improbable rise of an Austrian-born artist-turned-politician who channeled German outrage into a nationalistic, anti-Semitic movement that came to be known as the Nazi Party.1 Ameri- can media outlets, intent on documenting the chaotic state of post-war Europe, took notice of Adolf Hitler as he attracted a following and, through their coverage, essentially introduced him to the American public.
    [Show full text]
  • Survey of Current Business April 1925
    MONTHLY SUPPLEMENT TO COMMER.CE REPORTS UNITED STATES .DEPARTMENT OF COMMERCE W A.SHINGTON SURVE.y··.oF . .- CURRENT• BUSINESS : APRIL, 1925 No. 44 COMPILED BY BUREAU OF THE CENSUS. BUREAU OF FOREIGN AND DOMESTIC' COMMERCE - ' ' . BUREAU. OF STANDARDS IMPORTANT NOTICE.· .In aid#ion to figurer given jrom Gover~ment sources, there· are also incorporated tor completeness oj service figures from other sources generally :accepted by the trades; authcr#y akl responsibility 'fat: .wMch are nOtea in t~ <(Sources qf, Data~' on PIJA]eS I6o-I63 .ojthe Februp;ry, ICJ25, issue . SubscriiJtion price c>f the SuRVEY elF CuRRENT BusiNEss is '$1.50a year; single: copie~ (monthly) lO·~ents; qua~erly , . issues, 20 cents.. 'Foreign Sl,l:bscriptions, $~25: single c()pies (monthly issues) including postage, 14 cents; quarterly issues,, 31 cents .. ' ~i.tbscriptipn p~:ice of COMMERCE R:EPQllTS is $4 a year; with the Su:RVEY $5.50 a' year •. Make ' .remittances only to SuJ!erint~pdent. c>fDocumeitts, Washington, D.C., by postal mpney order, express order, or New . · . York draft. Currency at sender's ris.k. Postage stamps· or foreign molle.Y. not accepted . INTRODUCTION The SURVEY OF CURRENT BusiNESS is des~ed to numbers ·of less importance . have been temporarily present. eachmonth a :(>ic~ure of the busin~ s1tuatio~ omitted. by setting forth the prmcipal facts regarding the van­ The relative numbers are computed by allowing the ous lines of trade and industry. At.semiannual inter­ monthly average for the base year or period to equal vals detailed tables are published giving, for each item, 100.
    [Show full text]
  • C. 767. M. 269. 1924. Ii
    U<istributed to the Council and C. 767. M. 269. 1924. II. 1 the Members of the League.] LEAGUE OF NATIONS Geneva, December 23rd, 1924. GREEK REFUGEES Fourth Quarterly Report on the Operations of the Refugee Settlement Commission. Athens, November 25th, 1924. The preceding report of the Refugee Settlement Commission as regards financial work covered the period from January 1st to August 15th ; as regards the Agricultural Settlement, from January 1st to July 31st, and as regards the Urban Settlement, from January 1st to August 31st. H The present report deals with all the work up to October 31st. In the first place, it is gratifying to observe that the exchange of populations has nearly come to an end. At most, there can only be some few thousand more exchangeable Greeks to arrive from Asia Minor. It will be a great relief when the exchange is completed because in Greece, which is overcrowded with refugees, any new arrival is infinitely more difficult to settle and establish in a productive occupation than those who came in the first wave of j*iigration. There are no statistics to show the numbers of the refugees, and perhaps no exact record can ever be compiled, because, in addition to those who passed through the official exchange organisations, there were many others who came over of their own accord. Some of these, especially the earliest to arrive, have been so well absorbed into the population of Old Greece that they can no longer be regarded as refugees. We now have yet another category of “ independent ” refugees : those who are considered as “ established ” but who, nevertheless, are leaving Constantinople for pecuniary or other reasons.
    [Show full text]