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    Clickable dictation at various speeds is available at the bottom of this page. The transcript of the dictation appears here as well.

    Back to "normal" dictation material. This month's book was originally published in 1937 without the key in the back. It was deemed as an excellent teaching tool by Marion Angus, who, I believe, taught shorthand at NYU. She resurrected the book, added the key to the exercises in the back, and labeled the book as self-teaching. It's the book I turn to every time I get the urge to learn Pitman. Unfortunately, I've never made it past lesson 20 or so. Being a Gregg writer, I keep getting sidetracked with other things (like work). Regardless, here's this month's material.

Teach Yourself Pitman Shorthand, 1967, p. 161-162

Exercise 136

          You may be interested in the following theory concerning the periodic appearance of depression in almost all branches of trade.  Experience shows that the most probabl3 cause is due to the fact that prices have suddenly fallen, after a period of speculation during which prices have been unusually high.  The high prices occasioned during the period of speculation may have resulted from the expectation of a shortage in the supply of some particular commodity or some other similar cause.  Eager buying helps to produce the expected rise in prices and the first buyers seem to have the ability to make huge profits.  Their success encourages others and the speculative spirit spreads to all commodities.  Borrowers use all their credit bankers are willing to lend, and a general spirit of recklessness prevails.
          After a while, however, the upward trend of prices ceases.  When those who hold stocks wish to realize, a reaction comes and prices begin to fall.  They start falling so rapidly that everyone seems to be losing.  Credit is obtained only with great difficulty.  No one will part with ready money or postpone his claim to it.  Merchants cannot meet their obligations and many firms fail because they are unable to obtain the credit to which they are accustomed.  This is what we call a commercial crisis.  In extreme cases, there is added a financial panic as groundless as the former over-confidence and money is borrowed for short periods at a ruinous rate of interest.  Prices of commodities and stocks then fall as much below the usual level as they had risen above that level during the period of inflation.

For more information on shorthand speed building, click here.

Instructions for Self-Dictation Practice:
    Copy and paste the above article into a word-processing document, using double or triple spacing and 12- or 14-pitch type.
    As always, be sure to check your shorthand dictionary for correct outlines before "drilling"!

Dictation Practice:
    Note that the material was counted and recorded for dictation at 100; all other speeds were copied from the 100 take and electronically adjusted and may therefore sound unusual.

60 wpm 80 wpm 100 wpm 120 wpm 140 wpm

The dictation material above is copyrighted, all rights reserved.

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Gregg Shorthand Pitman Shorthand Speedwriting Shorthand