Lords of Finance by Liaquat Ahamed (pg. 362)

The editor of the Economist, Francis Hirst, who had fallen ill on a trip to the United States and was convalescing in Atlantic City at year’s end, captured the mood. “Rich people who have not sold their stocks feel much poorer…. The first result therefore, has been a heavy decline in luxury buying of all sorts and also a large amount of selling of such things as motor cars and fur coats, which can now be bought secondhand at surprisingly low prices. The favored health resorts have suffered… a very great number of servants, including butlers and chauffeurs, have been dismissed.”