Show Figures Fail FaIZ to Show Depression End in 1932 Sponsored by some commentators who have been attacking various fea tea tures ures of the recovery program the theory is heard quite often that the dep depression was over in the summer of 1932 Upon this premise is erected th he the conclusion that the country be je better oft off today if nothing had been done in the meantime Since called so-called economists have promulgated this notion it is well wello consult o the record The N New w York Times Tunes Index fell lell to a low of in inthe he the week ended August 6 6 1932 In three months it had climbed to and by the end of the year crossed 70 In n the week ended March 18 1933 however it had receded to 60 GO That had very much the appearance appearance appear ance of making progress ba backward ward Department store sales sale at an index high ligh of pi 69 in October were down to 57 by March Chain store sales ales of 19 companies measured by an Index fell from 83 to 75 in the same period The only important thing that rose over this interval was bank failures The credit structure collapsed In this recovery and as Sir George Paish puts it the thc American nation was threatened with complete bankruptcy governmental corporate and indi md vidual Which Is not a phenomenon which h we ordinarily associate with a business upturn such as we were supposed supposed supposed sup sup- posed to be enjoying after the turn in m the summer of 1932 I |