The Lost Reef

The year 1930 ushered in the worst depression of the century. At the annual meeting of Consolidated Gold Fields in December, Lord Brabourne spoke of a ‘disastrous period of stagnation and depression which set in in practically all markets in 1929 and of which the end is not in sight’, The following year, when he had to announce that there would be no dividend, he said: We have tried in the past to minimise risk by a geographical distribution of our investments but that has failed us, for depression and depreciation have been world-wide and no country has escaped them.... There is hardly a company in Britain or in the U.S. which has not had to suffer from the fall of profits and the diminution or passing of dividends. In these circumstances can you be surprised that we have not escaped the storm? These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Archaeology · Depreciation (economics) · Depression (economics) · Dividend · Economic history · Economics · Geography · Great Depression · Keynesian economics · Market economy · Sight · Finance · History · Political and Economic history of UK and US · State Capitalism and Financial Governance