U.S. IN MIDDLE OF WAVE OF INFLATION

Chronicle (Levin), 1 August 1946, Page 5

U.S. IN MIDDLE OF WAVE OF INFLATION

v (Snci i.'il Gorrcsnondcnt.)

lioccix cd Wciincxday, 7 p.m. LONDON, July 31. The opinion thut I'uitcd Stntcs was in tlie middle of a uave of inllation and that tlie labour situation there was alniost out of haud, was expressed bv tlie chairman of the Glasgow Cliamber of Commer*e, .Mr. E. Jt. Boyil, when iie addressed tlie cliamber 011 liis retiini from a tour of l.'nited States aiul Canada. Mr. Boyd said he found many American nnil Canadinn businessiuen who viewed with admiral *1011 ihe (■oulidence and determination wilh which Britain was attacking lier postwar ]iroblenis. Many Aniencans he niet expnssed the ojiinion that Britain was "in tlie l.uppy posilion of keeping lier feet 011 the groiind''. He found business anl linaucial cireles in New York restle>s and unhappy. Tlie regulation of prices was causing niucli anxiety and businessiuen were uneaasy aboul the abilitv of the. Go\ erniaent to carry out elfeclive jirice control. At preseiit 110 doubt tlie door to inllation was wide open. Canad.i was also al'fectcd by inflationarv tendencies but not to the same extent as I'nited States. It was obvious that Canada had made greai strides '111dustrially and was very conscious of lier increased stalure in the life of the Einpire. " I11 liotli T'nited States and Canada we start with a valuable asset in goodwill and if we contiiiiie quietly and eonfulentlv 011 oue way without being led aside into tlie realms of experinient in wholesaie natioiiiilisal *1011. my linu view is that \t'e need have 110 fear for tlie lulure," added Mr. Boyd.