The Archive · 1929

Failure of the Federal Reserve

Bank and the Government to check the tide of stock sales in New York and other leading centres during' the crash of the last few days is {interpreted here as meaning that Wall Street must work out its own salvation.

Tt is becoming apparent, how-ver, that the "Federal Reserve Board is not able to afford any great degree of remedy, whatever its desires.

Department of Commerce officials fare convinced that general business in the United States is ona sound foundation. For this reason, the belief prevails that the worst of the market difficulties is now over.

—United Press.

Text read from the printed page and cleaned; old type leaves the occasional error.

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