noted
that "these hard times keep busy day and night, and have
n 4
to work about hours day keep the ship afloat. early
1920 the danger signs were apparent: collapse the currency
markets, rising interest rates, and some steep declines in
share prices. Edison's
enormous energy was applied resolving the crisis. Many other manufacturers suffered the same
, 3
fate, and had watch the rapid collapse their markets. The
international economy had been shattered during the World War
and the United States now stood the leader weakened
world economy, and vulnerable its ups and downs. the end 1920 the West Orange
complex reeled under the shock drastic decrease sales
of phonographs. The money
supply decreased alarmingly. had given control his son
Charles, but the latter was brushed aside Edison senior
began campaign reducing costs cutting staff.
Edison returned the helm his enterprise lurched
towards major crisis. The government embarked policy sharp
deflation, and cut its budget about billion. The
shock the post-war depression intensified the cost reduction
program that had Edison had tried execute earlier. He
returned West Orange war's end convinced that a
deflationary financial policy was imminent, and ordered
E
cutbacks his organization face the uncertain future.XIII- 2
that 1909-1919 recorded increase 520% ^
The boom year 1920 came unhappy end for the
Edison enterprise the economy suffered sharp downturn.
