COST OF DEPRESSION
STRIKING AMERICAN FIGURES. ENORMOUS LOSSES INVOLVED. (United Press Assn.—Telegraph Copyright.) New York, June 10. The National Industrial . Conference Board has issued an analysis of official data indicating that three years of the depression, extending from 1930 to 1932, cost the American people 108,000,000,000 dollars. Business proprietors and investors lost nearly two-thirds of this sum and employees over one-third. Taking the income level of 1929 as a basis, the total loss to employees in wages and salaries exceeded 37,000,000,000 dollars. Losses from rents, royalties, interest and dividends totalled 47,400,000,000 dollars and business losses and reduced assets of individual proprietors were 23,200,000 dollars. The amount of national income paid to employees fell 40.3 per cent., while other than labour income declined 74.1 per cent, in a period when the produced national income fell off 52.6 per cent.
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Southland Times, Issue 22348, 13 June 1934, Page 7
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138COST OF DEPRESSION Southland Times, Issue 22348, 13 June 1934, Page 7
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