US Presidency
1930

Construction contracts in these categories in January and February were from 40 percent to 45 percent higher than ever known in those months. The total construction work for 1930 seems assured to be larger than even 1929. 4. The undertakings to maintain wages have been held. 5. The amount of unemployment is, in proportion to the number of workers, considerably less than one-half ( probably only one-third ) of that which resulted from the crashes of 1907 - 08, and 1920 22 at this period of the situation. 6. Measures taken to ameliorate interest rates have resulted in continuous decrease since December, and money is available at lower rates for business and commercial purposes. One result is an increasing volume of bond issues have been placed for public improvements. Available money for mortgage purposes of home building and agriculture has lagged behind other forms of credit.