THE SLUMP AFTER NAPOLEON.
'•There exists credible evidence to support the theory that the world is exi eriencing what may well be the last period of .deflation consequent upon the war and its reluctant economic upheavals," said Mr E. W. Beatty, president of the Canadian Pacific Railway in a recent speech. "If that be true we shall be fortunate in havinggone through it at this time rather than having it hanging over our heads for years to come. The economic effects of the Napoleonic wars were felt for forty years. They called for no such world-wide dislocation of industry and commerce as did the Great War, nor did they put any thing like so great a financial strain upon the nations involved. It is doubtless due to a »astly higher standard of industrial and commercial organisation that this later situation has arisen. The world lias made a strenuous effort, and for atime a successful effort,, to carry on its normal business at something like the speed and volume achieved under tlie spur of impending national ruin and dishonour. Tho final readjustment may discover that a new standard of values has necessitated new methods of production and trade in which efficiency and economy must play a larger part than heretofore."
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Cromwell Argus, Volume LXI, Issue 3159, 20 April 1931, Page 6
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209THE SLUMP AFTER NAPOLEON. Cromwell Argus, Volume LXI, Issue 3159, 20 April 1931, Page 6
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