[■uiieiitjf mta, tiien bib; tlitt nte of i fiUb off; ilae atfaand cftpkaGntiM fanadwiMihiBBed patalnv eanui^ proTW giufclu tkaa 4m mraaa^ TtaBaeA cr in proapect on tbe faaaia of ui — "— ^ Male of expeaeea o£ prodnctkia; tin ool litan] oonseqnently aluinks to » point vb«n H win not fliqiport the credit extenakxi Testing on it in the var of outstanding contracts and loans : tuid liquidation ensaes, after the matintT frvqueiitly M>t forth bj those who have written on these (mbjwt*.' At some point in the system of iiiYMt.Hiont and boainess extension will be found some hmiiohos u( industry which have gradually lost what diffivvn-
1 There 1« a point or two ot funber daUUI )n wt»t m»y b« mUmI tk« method of prosperity uid crixis, which k» beat dlaouMed In OonHMtion with the phenomeiu of depRMsion. TheM will, lh«rh>N, tw taken up presentlf . The Bbove ch&nct«rlMtlou ot lU) «n nt prnaparity and the maimer ot Its exbuustiiig ll«elt will •i>T<re m a ileMvliitlnii of the course which inch an era takes under the rA)(lme of Uio mitni high]; developed businen methods ot the high tide ut th lilltateaiilh century. For the earlier, less fully developed, biishinas ■lliialliii narrlMt to the point afterward atljiined, either in the dltltireijllalliin anil ■peelaliuUon of industries occupied with this class ot B'HhIs or In lb nUtlTe oliim« ot this olua of IndoatrlM.
tial advantage they started out with when they entered on the era of proaperity; and if these are involved in large contracts and undertakings wh ich are carried over in to the phase of the movement at which this particular branch of industry has ceased to have a differential advantage in the price of its output over the cost of its BUpplies of material or