Word: normal
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Dates: during 1920-1920
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...United States government has at last returned to a normal basis of finance where its expenditures approximately equal its income," said Governor Benjamin Strong of the New York Federal Reserve System in a recent interview as to financial conditions in this country. Governor Strong is one of the best-known of America's financiers, and, although he cannot predict definitely for the coming year because of his official position, he is inclined to believe that 1920 will prove a year of prosperity for America...
...past few years," continued Governor Strong, "finance has not been subject to the normal influences of peace, and this state of affairs will continue as long as governments are forced into paying out more than their revenues bring in. As a war measure the governments of the world have been forced to assume credit wherever they could find it. Although the United States has in the main recovered her stability, the nations of Europe still remain under the war cloud...
...ratification at all, the great bulk of the public caring far more about ratification than about the particular reservations attached thereto. I also believe delay most unfortunate, because until the Treaty is ratified unrest, whether in Europe or in this country, cannot subside, the world cannot return to a normal condition, and the problems of peaceful readjustment cannot be solved...
...speaking of the return of European production to normal conditions, the economist said, "The effects of the great war will be noticeable in Europe for as much as a hundred years, and until their great national debts are paid off, their industries will probably not come fully back to normal; and this may mean fifty years. I don't mean to say, however, that their industries will be severely crippled for fifty years. They will be bearing a burden which gradually they will throw...
...This exaggerated condition will not continue for long, I expect," concluded Professor Carver. "With the increase in European production and the equalizing of demand and supply we will gradually reach the normal conditions which existed before...