Abstract

Business to the Rescue
December 4, 1929 issue

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U.S. President Herbert Hoover has summoned the nation's business leaders into conference in order that industrial disaster may not follow the stock-market crash. Washington's measures for meeting the situation fall under two heads. One group is psychological; the other deals with large business planning. The tax cut so suddenly announced by Secretary of the state, after months of stiff-necked insistence that there could be no reduction, evidently belongs in the first class. It is designed to cheer up business; for notwithstanding the supporting figures given out, the change in the U.S. Treasury's tax plans at this time cannot be defended on fiscal grounds.

See Also:

FINANCIAL crises; BUSINESS enterprises -- United States; TAXATION; HOOVER, Herbert, 1874-1964; PRESIDENTS -- United States; BUSINESS planning; UNITED States
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