''While this year will undoubtedly be the worst that commercial aeronautics has ever experienced ... it will be the best from the standpoint of re-establishing the industry upon a firm foundation. The economic, sieve has been at work, sifting out the insecure and the unprepared who rushed into the industry to supply a demand that did not live up to their anticipations. The gold paint has at last been erased from commercial aeronautics."

Thus last week spoke Major Clarence Marshall Young, Assistant Secretary of Commerce for Aeronautics upon completing an examination of...

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