Publisher's Synopsis
Excerpt from Address of Secretary Hoover Before the Chamber of Commerce of the United States: Eleventh Annual Meeting, New York, N. Y., May 8, 1923
We have been able to add to our standards of living by the more general distribution of many articles which were either altogether luxuries ten years ago, or which where were luxuries to a large portion of the population. Thus an i11 creased proportion of the population are using electric lights, telephones, automobiles and better housing - and have added movies and what not to their daily routine, A rough estimate would show that we could today supply each person the same amount of commodities that he consumed ten years ago, and lav off about people from work.
Some people have looked upon these additions of new commodities in services in the daily expenditure of our people as representing extravagances, but as a matter of fact they' are no entrenchment upon savings. They are the product of better organized effort.
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