Business & Finance: In New England

New England is a backward, decadent section. Its factories are out-of-date; its inhabitants are idlers; its ideas have not yet emerged from the sperm-oil days. These words (or words less polite) have been spoken and applauded many times at booster meetings of towns to the West and to the South. When the Chicago Tribune castigates "the effete East," it usually refers to New England.

"New England is a reservoir of the most skilled labor, the most skilled direction, and the highest intelligence in the United States."—Herbert Hoover....

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