"At the present time the staze|P™ set for the greatest, prosperity in America since production is. usually high and the crops are good With each decade comes the! smoothing out of the economic life fof the country and there is a constant tendency toward the improvement of the economic machine Extreme market fluctuations are becoming gradually less The speaker gave as the reasons -|for these fluctuations becoming eas:—(1) The creating of machinery for the control of credit, such as the establishment of the Federal Reserve Banks, und (2) the growing knowledge of the business cycle, This latter had become especially: effective since big business had! come to realize the necessity of scientific study and had reorganized its machinery so as to smooth out the fluctuation curve. This had saved them great lesses during periods of fluctuation and had acted universally in the country to stabilize business conditions.
There were many factors beyond the control of business which were the cause of. fluctuations, such as weather, natural calamities, wars, ete. Even these could be lessened! by the systematic study of business conditions and diversified produetion. "However, America was. less affected by sugh calamities than country in the world
Text read from the printed page and cleaned; old type leaves the occasional error.