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DEBTS EXCEED WEALTH. POSITION IN THE UNITED STATES DUE TO CURRENT CONDITIONS. (United Press Association—Copyright). (Received This Day, 9.45 a.m.) NEW YORK, April 7. Based on a highly-theoretical estimate of cash into which the physical assets of the United States might bo converted under the present abnormal conditions, a statement released by Mr J. H. Rand, junior, indicates that tho total debt exceeds the total wealth. All* Rand, who is president of Remington Rand, Incorporated, presented figures prepared by the research department of his company showing the total debt .at 141,924,000 dollars, and the wealth at 138,000,000. The debt estimate is similar to the recent figures prepared by the National Industrial Conference Board, but there have been no recent estimates of the national wealth. The figures for that is far below the figure which appeared two. or three years ago. This is evidently due in large part to the difficulty of converting physical assets into cash under the current extraordinary conditions. Air Rand is chairman of a group of 300 business leaders which has recommended the devaluation of the dollar.
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Ashburton Guardian, Volume 53, Issue 152, 8 April 1933, Page 5
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182STARTLING FIGURES Ashburton Guardian, Volume 53, Issue 152, 8 April 1933, Page 5
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