Over-Production And Commercial Distress

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Over-Production And Commercial Distress
Uriel H Uriel Haskell Crocker
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Wright, in his Report before referred to, says (p.
254): *^ It is apparent, from the statistical illustrations given in the pre- ceding chapters, that the family of manufacturing states, Great Britain, France, Belgium, Germany, and the United States, if not also Austria, Russia, and Italy, are suffering from an industrial depression, novel in its kind, and yet having characteristic features of similarity throughout the whole range of states. It seems to be quite true that in those states the vo
...lume of business and of production has not been affected disastrously by the depression, but that prices have been greatly reduced, and margins of profits carried to the minimum range. Over-production seems to prevail in all alike, without regard to the system of commerce which exists in either." And again,! on p. 261: *' The best European authorities agree that the circle of producing nations has been so enlarged as to make the means of production far in excess of the needs of consumption." The evidences of general over-production are also set forth with much detail in the articles on " The Economic Disturbances since 1873," by Hon.

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