Publisher's Synopsis
Excerpt from An Address
As an indication of its effect upon the business of the country I will refer to the falling off in the production of pig iron, it being understood by economists and students that in a certain sense the production of iron and steel is a barometer of general business conditions. The production of pig iron in 1907 was, in round numbers, tons, and in 1908 it was tons, or a reduction of 40 per cent.
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