davidaulloa/AmericanStories huggingface dataset:
The Waterbury Democrat., 1935-03-08

system than we have. But that is
 another question. Right now
 what we need is income.
 The income being supplied by l private business Is not sufficient to keep uus functioning. And so | the government has had to go on pouring more and more money in- l to the blood stream of trade. The government has been obtaining this money by borrowing it chiefly | from the banks.
 But this has progressed to the point now where serious Ques-
 borrowing on the ground that 1t Is unjust as well as unsound. It is adding to the yearly interest first place. In the second place we are paying out relief money
 in our depression and expect our
 children to foot the bills in the
 sweet bye and bye.
 BANKS PERIL
 Still another and powerful ob-
 jection comes from the banks.
 They insist that the government
 is loading them up with govern
 ment securities and that is not good banking. For instance, one big bank with 15O million dollars in deposits holds 120 million dol
 lars in public securities were to drop seven points the capital and surplus of this bank would be
 wiped out and it would be insol- vent but for government aid. This is an extreme case but it
 illustrates the point. The banks
 have already baked once at talk ing any more government bonds. They may do 1t Again. In the next
 six months the government must do two- million in refinancing and | sell in addition over four billions l in new bonds. Can the banks take 1 these? There is question. They
 probably will. But there must
 come g. point when they will re-,
 fuse. Suppose they refuse, what will the government do?
 ] In the meantime there Is a strong agitation for improving our
 banking system. It was, as we know, the most amazing weak banking system in the world. Since the crash very little has l been done to change 1t funda-
 mentally. The government guar
 antees deposits up to $5.OO0. That
 makes the guaranteed bank req
 sonabiy safe but it still leaves us with a ramshackle banking sys-
 tenn which depends upon a gov
 ernment backing to stand up. There are many weaknesses,
 Banking Act attempted to correct
 some, but it was very ineffective.
 The simple truth is that the gov
 ernment has never made any at
 tempt to deal in an intelligent and
 comprehensive way with our great
 banking problem, contenting itself with the makeshift of government guarantee rather than building
 system which does not need to pc guaranteed.
The Waterbury Democrat., 1935-03-08
WHERE ARE WE NOW?
Coming Battle For Control Of The Banking System Will Decide Whether
 Nation Is To Move Into Imitation This Year, Says John Flynn

John pnrtrnys the fight three articles which Flynn Anccas fore
 writer ccononlc has prepared exclusively for The Waterbury NEA Service. n l
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
STOCK MARKET
EXTENDS RISE;
SUGARS IN VAN
Steel Shares, However, Fail
to Participate in the
Recovery.
By United Press


NEW YORK, Feb. 28.-The stock
market extended yesterdays gains
in the first two hours of trading
today. Around noon the list was up
fractions to more than point.
Steel shares we're among the few
sections which failed to participate
in the rally. Motors made small
gains. Sugars responded to further
demand for sugar futures. Rails
added a bit to the rise of the pre-
vious session and utilities about held
their own.
. American Crys t preferred
jumped points to "a, new 1885
high, in the sugars. It's common
also made new top on a fraction
al rise. Small gains were made by
Great Western Sugar and by South
Porto Rico Sugar. Central Aguirre
Associates was up nearly a point at
263s, a new high for the year.
United States Industrial Alcohol
spurted 212 points to Al on resump-
ton of dividends and other wet
issues followed. American Com
mercial Alcohol gained point to
27A and National Distillers was up
fractionally at 273s.
United States Steel around noon
was at 1928, off Il; American Tele-
phone 1O57B, up Is; American Can
HTS, up g; New York Central
1875, up a, and United States
Smelling 119, up 1.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
HOG PRICES 10
CENTS HIGHER
Cattle Market Active and
Steady; VeaIS Climb
Sharply.

Porker prices recovered slightly in
early trading at the local stockyardS
today following the small decline
yesterday. Prices of the various
classes were steady to generally 10
cents higher than the previous av-
erage. The increase was small, con-
Sidering the extremely light run of
supplies on hand.
Receipts were estimated at 5000,
compared with 1000 yesterday. The
bulk of 160 to 400 pounds, cashed
in at $3.50 to 1855, while few better
kinds brought $3.50, the highest
price for the week. LightweightS,
scaling 100 to 100 pounds, sold at
$3.50 to $3.50. Packing sowS held at
So to S875. Holdovers numbered
1872.
Initial trading again was active
in the cattle market, with the ma
jority of prices fully stationary.
Good and choice grades of cattle
were not available. Best low-grade
steers were valued to sell at $40,
while bulk of COWS held at $4.25 to
81. Receipts were 300. Vealers were
strong to largely so cents higher,
selling at SO down. Receipts were
500.
With trading interest still light
in the lamb market, most all classes
were unchanged. Bulk of fed West
ern grades sold at SO down. Throw
outs ranged from $3.50 to So, while
slauphter sheen brought SIS down.
Receipts were estimated at $500.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
On Commission ROID

Quotations below are average wholesale
u-iess being offered 70 BUYERS oy local
Commission dealers
Frults-Bananss. siec ID. Apples IN
diana Winesaps 81 IS: Golden Gelicious.
81 IS. Lemons, sunkist. 1sOs. s4.25. Grape
fruit, Texas. seedless. s2.7S. Arizona.
Der car S. ssc: Byram. seedless. per
huncr PineappIes. Porto Ricans,
half $50. Avccados. Florida. box,
81 50. -laWoerri-s. Florida. pint l4Glsc,
sept. crate 50. Auricots. 8 crate
NeEetabses-CabbaEe Northern Danish.
sob rs, SIS: red Sob box. :l2s'
Onions. sweet spanish. large. Sob
rag. 50: Michigan yeIloWs 5o-lb bag. s1.7S-
Potatoes. Green Mountains. loo-lo- haE-
ST 50. northern round white. lo0-lh. hag
81. Nebraska triumphs. 5o-ib. bag. s. 3.
Ohics. ioo-lh. bag, 81. Idaho Russets 100
Is. bag 81 90. New FLORIDA Triumphs.
bushei. s.. Sweet potatoes. Indiana JERSEYS.
hushel. 81 S.. Tennessee Nancy Halls.
bushel. Sis Beans round stringless.
hamper. s. so. rat. s275. Celery. Florida.
49, So , -i,-o' s, 81. &C us, ,S -
hot house dozen. 81 20; dozen BOX s. 50.
Erdive. California. dozen. Sc peck basket.
81 EEz plant 81 50 dozen. Sale. bushel
2or Lettuce. hot house. 15-ih. basket. Sis.
Arizona Icecer< head lettuce. s.. so. Man
goes FLORIDA, crate. s. So Mint. a dozen.
s1.Ts spinach. Texas. hushel. SIS.
Pacishes dozen. IS Q SOC. Tomatoes lob.
carton. $50. florida original. 81 IS.
TuruipS. nGxnel. Sc Parsrips. buShel,
81 S. Beets bushel SIS. Carrots. buShel.
house house SD. carton. sse- Mushrooms. ID.
Al quotations subject TO change Up or
down.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Produce Markets

Delivered in Indianapolis prices: Heavy
breed hens, lac; Leghorn hens, &C. col
ored springers, 13c; heavy stays, &C.. Leg
horn stays, &c: old roosters. &c; ducks,
full feathered and fat, 10c; geese. full
feathered and fat. &c; all classes Of
guineas, 15c; No. / strictly fresh country
run eggs, loss of: tic. Each full case must
weigh SIS lbs. gross. a deduction Of l0c a
pound for each pound under SIS lbs. will
be made. Butter-No. 35G36c: butter
fat. 23c. quoted by the Wadley Co.
(By United Press
CHICAGO, Feb 28.-Eggs-Ma I'M
settled; receipts. 1902 cases; extra 1rsts,
2112c: fresh graded 1rsts, 21Hc; current
receipts 1912c; dirties, 1812c checks. 18c.
Butter-Market unsettled; receipts. $3.50
tubs extra frsts (90-91l2 score) 3112M
3134c; extra (92 score). 32c: f1rsts (22@
8912 scorel. 1924 d3114c; seconds l86-8712
score). 30d 3Ol2c; specials. 3212@33c;
standards. 3194c. Poultry-Market easy;
receipts, % trucks; hens 1872 Q2012c:
Leghorns. 13G 18c; springers, zoe; broilers,
21M23c: capons. 81 lbs. 23c: old roosters,
131a@1412c; ducks, heavy whites, 21c;
turkeys, 19d21c; geese, 14c stays, 16l2c;
flyers. 2212@23c. Cheese-Twins. 1864 n
tic; Daisies, 17A d1712c; Longhorns, 1874
@18c. Potatoes-Supply liberal; demand
and trading very slow; market weak; Wis
consn round whites U. S. No. l. no sales
reported, commercial grade 6712 q roc;
Idaho russets $3.50, commercial grade
$780, sales to jobbers, Florida bushel
crates bliss triumphs, washed, S1.75. Ar
rivals, So; on track, 285; shipments. $50.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28

1t appears as though government
price fixing and government mo-
nopoly are both permissible, while
private monopoly and private price
fixing are unsound and are to be
discarded.
See No Difference
We can see no reason to believe
that price fixing undertaken by the
government is any sounder than
that engaged in by private interests.
If anything, government attempts
at price control are attended with
the more serious consequences.
The mistakes made by a govern
ment usually tend to be larger and
have more important consequences
than those made by private inter-
ests. This is so because of the larger
scale on which the governments ex-
periments are carried.
These experiments are also more
dangerous since if they are wrong
the government can not be forced to
mend the error Of its ways. It may
continue to try to fight economic
forces because of the larger re-
sources at its disposal. The problem
of weighing costs and considering
losses must not be faced by a gov
eminent as it must by private in
tereStS.
Pressure Continues
When private price fixing fails
there will be losses and probably
some chaos in the industry, but the
scheme will be definitely abandoned.
On the other hand when govern
ment schemes fail the pressure con-
tinues for additional attempts at
control.
To take two recent illustrations,
the breakdown of the private price
fixing experiment in copper in 1880
meant the abandonment of that
type of panacea by the group which
was carrying it out. On the other
hand the Brazilian government has
continued in one form or other It's
attempts at price fixing, despite the
chaos into which the Brazilian
economy has been thrown because
of its ill-considered efforts in this
direction in the past.
Private people learn by mistakes,
but governments do not. And the
mistakes of governments tend to
perpetuate themselves. Both pri-
vate and government price fixing
have serious disadvantages. Both
cause price dislocations and dis
equilibria.
In order for price fixing to be sue
cessful-and we doubt if it can be
permanently uccessful-good lead
ership is required. And what evil
dence have we that the leadership
furnished by governments is better
than that furnished by private in
tereStS?
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
BUSINESS SHOWS GAIN
Canadian Industrial Situation I'm
affected by Gold Ruling.

By Times Special
MONTREAL, Feb. 28.-Fears of a
disturbance in the American cur
rency situation, now removed by the
United States Supreme Courts de-
cision, and uncertainty over the leg
islative program of the Canadian
government failed to halt industrial
improvement in Canada during the
past month, according to the cur
rent business summary of the Bank
of Montreal.
Notwithstanding the uncertain
ties which have prevailed, the eco
nomic index compiled by the Domin-
ion Bureau of Statistics stood
Is points higher in the second
week in February than in the CORE
spending week last year, this repre-
Senting a gain of point over the
preceding week" says The summary.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Other livestock
lRv limited Pressl

by Onlte0 RreSSl
FIT. WAYNE. Feb; HogsmSteady to
ss5 IS i iS1iiSV lbs o So IS is0lso bs 81
i40-l5O lbs. IS: lS0-l40 lbs. s775; l@J-130
lbs. s725: l0o-l2o lbs. Sc. rs: .roughs So;
stays. s575. Calves So Lambs. $3.50.
by Times Special
LOUISVILLE. Feb. 26.-Oattle-Receipt
IT'S; salable supply slaughter cattle; light
killing quality plain; demand dependable:
medium steers and heifers. s6ds; better
finished. kinds scarce. quotable to around
SO: bulk beef COWS. 50 asa $50; good
heavy offerings and smooth heifer types
ouotable So or better; bulk low cutters and
cutters SO 5OG375: sausage bulls mostly
So 50G475: best hesvies and desirable
butcher bulls eligible higher desirable
beef type stock calves mostly s6.50d Sc
some eligible higher. calves-Receipts.
2T5 including so stock calves; better grade
vealers mostly SOC higher; bulk s7.5oM $50
few strictly choice. 50: medium and lower
grades slow and steady at Sc SO down 10
around So. Hogs-Receipts. 500. market
steady: top and bulk better lS0-250 lbs,
SO IS. 255 lbs. up IS 90; l60-l75 lbs. SIS. 80;
I40-i55 lbs. $3.50: l20-l35 lbs. s7.35: sows,
$3.50 Sheep-Receipts. so; generally
steady on slaughter classes: medium TO
good lambs mostly s7Gs; choice quotable
around $780, common throwoutS. IS. and
fat ewes salaSle mostly $3.50 dowA-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
WAGE CONFERENCE IS
OUT UNTIL MARCH II
Bituminous Pay Farley ReceSses
Pending Legislation.
b. Scripps-HoIcarf Neirspaper Alliance

By ScTipps-H0irGrf Newspaper Alliance
WASHINGTON, Feb. % IN
certain what Congress is going TO
do on labor and coal legislation. the
annual wage conference between
bituminous miners and operators OF
the Appalachian region has recessed
until March IL.
The recess was taken after a
spokesman for the operators pointed
out that Congress K Considering the
Black 3O-hour bill. the Guffey coal
control bill and the revision Of MIRA
all intimately tied up with the
hituminouS induStry-and that no
body is sure what VIII hapepn 70
any of these measures.
John L. Lewis. president OF the
United Mine Workers. seconded the
motion for recess after some re-
marks indicating that when sessions
are resumed he will insist on full
consideration for the miners pro-
posals for a 30-hOur week and an
increased wage scale.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
PEOPLES GAS AND COKE
MAY SKIP DIVIDENDS
Company Fears Heavier Taxes, New
Laws, Simpson Says.
By Times Special

By Times Special
CHICAGO, Feb. 28.-Resumption
of dividend payments by Peoples
Gas Light and Coke Co. still is
clouded in uncertainty, according to
James Simpson, chairman of the
board. The business outlook, threat
of new tax burdens and new legis-
lation were listed as principal con-
trolling factors. Adjustment of nat
ural gas purchase contracts also will
affect the dividend outlook, Mr..
Simpson said.
Earnings of Peoples Gas for 1884
would have been $1,402, 1886, instead
of 1858, 145 as reported, if the deci-
sion of the state Supreme Court in
the 2 per cent sales tax case had
been handed down early enough for
the recovered tax accruals to be
shown as income in the report, he
declared.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Barter Reaches NezO High;
SzCab Fish for Equipment


LONDON Feb pa Birmingham firm OF electrical motor
manufacturers has lust opened up export market by
changing equipment for haddock according to the
magazine Industrial Britain.
Some received order for goods from Ice
land Owing currency restrictions the firm in Iceland found
goods and accordingly 1o-
warded nearly of haddock to the Birmingham firm ms
enable them to import the nsh Vhlcn
their behalf, the fish market
So both Iceland Birmingham satisfied and as the
business relations with Iceland
there every that Birmingham will not suffer from
shortage of haddock.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Other Livestock
fBY United Pressl

600, Including 5000 directs; active, fully
Ssady gtn foD eg1S 2P0Ve 5 2iO
$3.50 30; light lights. s825@ 800;
81 ugh pigs s65,5oq825; PACKING sowss
and choice s8a5@5 light tO Weight oS is62oo
lbs. good and choice ss75G925; medium
weights 200-250 lbs. good and choice, $40
a9.35: heavy weights, 250-350 lbs. good
and choice, s9.2o@9.35; packing. sows 275-
$50 lbs. medium and choice, s75oqa.75;
slaughter pigs l00-140 lbs. good and
choice So 506s.5O Cattle--Receipts. 1000;
evenly steady 70 25 cents lower; killing
quality. however. much palmer than
Wednesday-this tending to soften down
turn; offerings Of value to sell at se@l2
promising to show most downturn top
sl375; very little here Of value TO sell
above sl3; all other killing classes fully
slaughter cattle and vealers: steers $4,000
lbs. good and choice, s950Gl3; 900-iloo
lbs. good and choice. s9.5o01375; 100
1900 lbs. good and choice, $40 90;
550-l3O0 lbs, common and medium. s5G
1850; heifers 55O-75O lbs: good and choice
925; common and medium, s435M6.T5 low
cutter and cutter, s3G450; bulls (yearlings
excluded good beef. s525@7: cutter
iings good and Choice. $500 $50; medium,
$50 ~. so; Gull and common. s4d6; stocker
and feeder cattle: Steers 550-l050 lbs. good
ana CNOlCe. so.Z0N o-OOs common ana me-
dunn, s596.25. Sheep-Receipts. 1000;
fat lambs opening fairly active; fully
steady; asking 10 TO IS cents and more
and above: bids ana few sales nearly good
quality. ss.5C0s75: sheep firm; feeding
lambs strong to higher at upward to s725
90 lbs. down. good and choice. SO 35d9.I 10:
common and medium, So 75d8 so; 90-95
lbs, good and choice s3d9.l0: ewes. 30
$50 lbs, good and choice s41550; all
weights common and medium, S3d465;
feeding lambs 5g-75 lbs. good and choice,
s675 also.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
CONVENTION
indianapolis Manager of Insurance
Firm Is in New Orleans.

D. E. Mcdonald. Indianapolis dis
trict manager Of the Life Insurance
Co. Of Virginia and president of the
One Hundred Thousand Dollar Club
Of that organization. is attending
the annual convention now in ses-
sion at New Orleans. He was joined
in Cincinnati by other members Of
the company who qualified for the
convention.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
DIVIDEND is DECLARED
By Times Special

ITTto VtLtUE
BOSTON, Feb. pa dividend of
- per cent, payable on all policies
expiring in April, has been declared
by the American Mutual Liability
Insurance Co. This is American
Mutuals 558th consecutive dividend
of 20 per cent or more.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
GRAINS SLIGHTLY UP
DURING EARLY TRADE
Traders Wary of Damage to
Crops in West.
BVUnited Press

~ Hfffn Press
CHICAGO, Feb. Is. - Grain fu-
lures were steady to a shade higher
on the Chicago Board of Trade to-
day as traders considered the posi-
bility Of damage to the growing crop
in the winter wheat territory of the
Southwest.
AT the start wheat was unchanged
TO : cent higher, oats we're I'M
changed to i cent up, and rye was
up ! TO q cent.
Little attention was paid to
routine developments at the start
and the market was not particularly
active. Bartlett Frazier & Co. re-
ported the demand for wheat in
Liverpool was we'll sustained, but
that hedging sales checked the up
ward tendency.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
FRUITS AND VEGETABLES
BY United Press

CHICAGO. FEB. Is -Apples-NfichiEan
sfrTrfosh bushels. s. 50GIt5. JonathauS.
81 s0S4i7s. Turnips-Iunois. bushels. 20a
So Lettuce-Ne.reru. crates. S2M2 50.
parxnips-Illinois. bushels. 60fl 7Sc. Car
ross-Caiifcrnia. crates. - s0m14a. Sweet
r~fmfoex-TennesSee bushels soc 81 81 10.
indiana. si151i4o. Beans-Florica BUSH
80 81 5oIl Spiuach-TcxaS bushels.
sfasfl 50. Beets-Ililnols bushels 4oI
Soc. cah5sgs-Wiseozzil. Zoe las. S2G2.so.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28

buying equipment
and other goods
on a much larger
scale than hereto
fore.
The Importance
OF this news can
not be Overestl-
mated. One Of the
prime causes Of
the depression,
many economists
agree, was tn e
slump in the buy
ing power Of the
farmer public. But
the betterment has
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
LENDING GLUT
HELD CAUSING
TRADE SLUMPS
Ban on 0verborroWing Is
Urged by Economist to
End Evil.

This is another Of a series ~ articles
written for The indianapolis Times by
members of the economics department
of New York University's School of Com
merce, Accounts and Finance.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Government Price Fixing
Held Dangerous Process
Large Resources Might Be Used to Fight Economic
Forces Economists Say in Study.
JULES BACKMAN and A. J. JACKSON
Editors Of Economics Statistics, Inc.

YORK Presidents the NRA he
did
fixing within industries must be allowed
price fixing still be
applied to the natural industries such
implies
that 10
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Wall st.
Farm Problem Still
Unsettled About
Rise in Prices.
by RALPH HENDERSON,
Tines special Writer

NEW YORK. Feb. 2s.-Puces Of
- farm products have reached
the highest levels in more than
four years. according 10 an agri-
cultural bulletin prepared By the
editorial stats Of several import
ant farm magazines As result
Of these increases. Il states. farm
ers are in a greatly improved
financial position. and they are
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
FEDERAL FARM LOAN BONDS
EXCHANGE SEAT SOLD
BIZ Times Special

NEW YORK, Feb. 28.-Arrange-
ments today we're completed for the
sale Of a New York Stock Exchange
seat at $4,000, of $1,000 from the
last previous transaction.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
by James Z. Bennett)
LOCAL CASH MARKET

City grain elevators are paving 90 cents
for No soft red wheat. Other grades
on their merits. Cash corn No. yellow
a. cents and oats IS cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Retail Coal Prices

The following prices represent quota
lions from leading Indianapolis coal deal
ers. 25-cent carrying charge per ton
will be added.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Government Has Power

The government has full power to
prevent credit collapse from result
ing in price level decline, for it
can readily substitute government
credit money for bank money as
fast as the latter fades away.
The practical way of making the
substitution is for the government
to issue paper money and use it to
buy its own outstanding bonds.
Repetition of an epidemic of
banking failures can readily be pre-
vented by compelling commercial
banks to give up investment bank
ing and return to a purely CONNER
cial banking basis. Were this step
taken failures of this class of banks
would soon become rare.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
Credit Activity Blamed

Scientific research has now es-
tablished the fact that depreSsions
always originate in overexpansion
of credit
The only way to prevent future
business declines is to make it i'm
possible for either individuals or
concerns to overborrow
Five forces converted the 1929
crash into a major depression:
/. The collapse of credit caused
a decline in the average of all
prices, that is, in the general price
level.
2. Unsound commercial banking
practices laid the foundation for an
epidemic of bank failures.
3. The decliring price level mag
nified the burden of Indebtedness
and this brought about panic and
failures of individuals, business en-
terprise and banks.
4. Some prices declined much and
others declined but little, and this
disparity of movement threw prices
out of balance and interfered with
the free exchange of products.
5. Rightly Of prices and wage
rates produced unemployment.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-28
What Does 1t Mean?

Working Capitalize difference bet1Oeen current
assets and current liabilities Of corporation represents
the acorkng capital 1t is the surplus of current assets
0Uer current liabilities.