| Show HOPE FOR RECOVERY since the crash the nation has been divided between two schools of thought those who believe the business con I 1 i editions of the boom days clays to have been abnormal and those who believe them to have been normal the f former ormer are disposed to consider present conditi conditions 0 ns nearer normal while the latter maintain that the present level of business is sulm subnormal ormal one of the latter school is dr edwin W kemmerer internationally international lv known as an economist and as a physician to ailing national currency systems he nr ur eaches the hopeful doctrine that current conditions are far from n normal r 1 and that the country will return to those nourishing flourishing business conditions of the twenties and his belief in that soupir doctrine is enough to permit his preaching it before the american philosophical Socie society tv the inflation from the business boom he scouts the theory that the veriod period of prosperity tv was due to the war far ar guinis that flipse ws business busine expansion before the war which would have blossomed into I 1 full bloom of prosper prosperity erity had the war never occurred con I 1 antly a return to that level may be expected in the due course of things when the upturn comes doctor kemmerer draws attention to the fact that apart from the inflation of prices that tha was a part of and in some degree a consequence of the s stock market boom there was a substantial accretion of prosperity which the country had attained by right and which was not in the nature of fictitious inflation both schools of thought must find encouraging such views from a recognized authority ori orf world and national economics |
