ABSTRACT
The disappearance of the frontier has been so frequently discussed that it needs no intensive discussion. Coincident with the passing of the frontier, has been the development of an automobile civilization. Probably no single development has forced more rapid change on the American economy than the widespread use of automotive equipment, particularly automobiles, tractors, and trucks. Nearly every war country inflated its monetary medium to such an extent that by the end of the war the values of the units of different countries were seriously out of equilibrium. Many other developments took place in the predepression years which made rapid economic readjustment a necessity. The direct impact of disequilibrium was postponed during the war by stringent exchange regulation but after the war one country after another lost control of its monetary medium until the monetary stability which had been developed in the prewar years was largely destroyed.
