Drops in Commodity Prices in 1930
The chief economic development of 1929 was the collapse during the last quarter of the year in prices of stocks on the New York market. Sharp declines in commodity prices during the first quarter of 1930 have constituted the chief economic development of the present year to date. They have affected the interests of larger numbers of persons, in the United States and throughout the world, than were involved in the stock market crash; have retarded business recovery from the effects of that crash; and have resulted in a definite slowing up of world trade.1
Wheat, cotton, wool, coffee, rubber, and many other leading commodities suffered serious losses in value during the first three months of the present year, and ...