I.B.A. of A. Bulletin Volume 3-6

I.B.A. of A. Bulletin Volume 3-6

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 edition. Excerpt: ... us to consider whether or not this extension of our industries is a solid one and whether the extension of our foreign trade indicates a permanent extension. There is no question in my mind but that with the cessation of hostilities in Europe and the withdrawal and cutting off of orders for supplies of war materials of various sorts, the United States will experience a serious reaction. Those features which just at the present are making for expansion will be cut off and unless there has been some real advance made in capturing the markets of the world which are unaffected primarily by the European war, our situation is likely to be a serious one. In the face of this tremendous destruction of capital which is going on in Europe, it would seem that this is a time for the United States to save and for the people of the United States to curtail their expenditures which are in any way unnecessary and to invest those savings where they will do the greatest amount of good. Great Britain has made herself the foremost capital nation in the world, not because she made large profits, but rather because she saved large savings. It is out of savings and not profits that investments are made. If the United States is to become a great capitalist nation, the people of the United States must save. It is sometimes said that it is a man's first duty to save. If that be his first duty, it is certainly his second duty to so invest those savings that they will be of the greatest advantage to the commonwealth. Just at the present the investment of savings in foreign securities, in the securities of those countries which we hope to win for our foreign markets, will afford the greatest advantage to our commonwealth. It is also worth while for us to stop and consider...show more

Product details

  • Paperback | 232 pages
  • 189 x 246 x 12mm | 422g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236486870
  • 9781236486875