Word: panic
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Dates: during 1920-1929
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Those who try to guide their college path along the line of least resistance, find themselves awkwardly balked by the science, requirement and, panic-stricken, choose whatever course has the least laboratory exercise. Others, by nature scientifically inclined, rejoice at the opportunity here for indulging their appetite. Between these two lie a great number who honestly desire a well-rounded cultivation which will include a general acquaintance with the field of science, but who have been forced by the make-up of the science department to limit their acquaintance to a year spent in some specific field. This enforced imprisonment...
...thousandth of its pre-war value, being sold in Berlin at the rate of 40,000 for a dollar. This sudden depreciation in value of the mark should cease to hold great fears for us. The mark has long been dead. We may therefore consider the cries of financial panic that come to us from the streets of Berlin, because of the depreciation in currency, merely as a means for the Germans to advertise the troubles in which they are involved; to enroll the sympathy of other nations; and to arouse the feeling of protest against the French occupation...
Most Americans fail to realize what a serious bearing this European bankruptcy has for ourselves; such a collapse would mean a general panic in which thousands of business firms would be ruined. It therefore behooves all of us to prepare for trouble...
...present, and that re-inflation will soon set in. But after this flash prosperity there is going to be a long period of business depression, covering about three years, which will be one of the worst this country has ever experienced. There will be a disastrous panic, during which a large number of business houses which are now firmly situated will go under. Not until the end of this period will business be back to its pre-was basis...
...time in the business cycle when a panic would have occurred, if we were to have one, has passed, according to this letter, which is the latest of a series issued to the subscribers of the Review of Economic Statistics. The movement of rates on commercial paper and of speculation indicates that the liquidation in commodity markets will end some time between December, 1920, and April, 1921. The action of the Federal Reserve Banks in increasing rates and restricting credit practically insured a business readjustment unaccompanied by a financial panic. For "higher interest rates do not spell disaster, but safety...