UNITED STATES.

Otago Daily Times, Issue 20960, 25 February 1930, Page 11

UNITED STATES.

SPECULATION FEVER. It happened that Mr Winston. Churchill was in New York at the height of the recent Wall street panic. In a special article contributed to the Daily Telegraph he describes, in vivid passages, the extraordinary conditions, in New York City during the momentous days, and the fever of speculation that had overtaken the American people. “Everybody dabbles in stocks,” writes Mr ’ Churchill. “ Earned increments are sweat, but those unearned are sweeter. Millions of men and women are in the market, all eager to supplement the rewards of energetic toil by ‘easy money.' From every part of its enormous territories the American public follow the game. S “The housemaid who makes your bed is a stockholder on margin. Workmen of every class, brain or hand, the chauffeur, the tram conductor, _ the Railwayman, the waiter—all have their open accounts, and sp, very often, have their wives. The more enterprising hotels have a complete set of tape machines and telephone faci“ties, and they provide entire suites annd the clack and rattle of tickers, expert clerks chalk up from minute to minute the latest quotations.”