Industrial Depressions; Their Causes Analysed and Classified with a Practical Remedy for Such as a Result from Industrial Derangements Or, Iron the Barometer of Trade

Industrial Depressions; Their Causes Analysed and Classified with a Practical Remedy for Such as a Result from Industrial Derangements Or, Iron the Barometer of Trade

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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. 1911 edition. Excerpt: ... them, in their turn, from the United States Steel Corporation. THE SMALL BENEFIT OF BOOM PRICES REALIZED BY MANUFACTURERS By reference to Appendix L, it will be observed that the demand for construction commenced to fall off soon after prices made any considerable advance, and that it continued to fall off in almost exact mathematical proportions with the advance in prices. This explains very clearly some of the phenomena attending a boom which without the knowledge of these facts would seem very unaccountable. First among these is the fact that the manufacturers of construction materials in this country realize such a very small benefit from the large advance in prices which takes place during a boom. The fact is that the great bulk of the construction which takes place in all booms is the construction which is contracted for before any considerable advance in prices takes place; consequently, the producers of construction materials, as a rule, have booked contracts for the larger part of everything they are able to turn out during the continuance of a boom, long before there is any considerable advance in prices. Of course, there are exceptions to this rule. We have known of iron-furnaces and steel-works which were not in operation when the boom commenced, and in consequence made no contracts during the low-priced period, but after prices had advanced largely these plants were put into operation, consequently made all their contracts at the high prices, and were thus enabled to reap large profits. On the other hand, we have known of other concerns that contracted all they could make for more than a year ahead at the low prices, and, before they were able to fill these orders, the advance in labor and raw materials so enhanced the cost of...show more

Product details

  • Paperback | 82 pages
  • 189 x 246 x 4mm | 163g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236521641
  • 9781236521644