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Prosperity Of Small: Although in the long run the commercial revolution laid the basis for the prosperity of small, intensively cultivated farms in the 5th century B. c., the immediate effects on the small farmer were disastrous. The general economic dislocation that accompanied the transition from subsistence to specialized farming caused an agricultural crisis, and the only solution offered by the new money economy was usury. The small farmers were forced to borrow on the Security not only of their lands, but also of their persons, and, as a result, large numbers were threatened with reduction to the status of sharecropping serfs.
This new objective involved a greater measure of government intervention in Security issues and the expenditure of funds.
Prosperity and Advancing Competition. During the 1920's the railroads seemingly enjoyed an Indian summer of prosperity. In 1920 the ratio of dividends declared on all stock was only 3.74%, but by 1929 it was 5.70%. If the stock on which no dividends were declared were eliminated, the figures would be more favorable. In the same decade there was even a repetition of speculative empire-building, reminiscent of an earlier day, by the Van Sweringen brothers, Mantis J. and Oris P.
After 1955, however, domestic prosperity, which resulted in increased imports and wage demands, had so altered the terms of trade that a balance of payments crisis ensued. The government met it with rigorous monetary restraint on tone demand, which tended to increase unemployment and depress economic activity. The downturn continued until the balance of payments problem relaxed. The government then relaxed restraints. A further period of prosperity began, but only to crash once more against the •ock of balance of payments problems. Thus jegan a cycle of economic activity, known as stop-go," that repeated itself over and over.
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