Brethren & Co-Workers Letter - January 01, 1970 - Herbert W Armstrong - January 01, 1970

Herbert W Armstrong

I am forced to write you with a very heavy heart. For more than a year our nation has been in a financial recession. No one wanted to call it that. There are signs that an upturn is already started, and it may soon be over. Most bankers and businessmen have called it a "tight money situation" instead of using the term "recession," or the more frightening term "depression." It has hurt the Work of God SERIOUSLY! I have not wanted to tell you. Up to now we have weathered the storm by wise business management, and several times last year, and twice already this year, making cuts in our budget that looked as if they would be sufficient. - Information Supplied By: Herbert W Armstrong Library