PERFECTLY NORMAL, SAYS MR. HOFFMAN

Chronicle (Levin), 30 June 1949, Page 5

PERFECTLY NORMAL, SAYS MR. HOFFMAN

WASIIIXGTOX, June 28. Jlr. Paul lioil'maii, Economie Cooperatifiu Adniini'stratdr, said todav that fhere was no basis for eonsiderjiig the so-ciilled" British finuneial crisis as ruiy-tliing'-other than a '/perfeetly normal Mr. lioffixuin" feafd almost every bu'siuess in Ame'riea' was ft'aced with the problem of jedueing costs and apply- ■ tng iiutnra] 'postwar. adjusbments. Iiis knowledge uf the British situation was iargely eoniined to whai he read 111 the newspapers> bi-.t he added that he thought tliere had been an "overempliusis 011 a perreetiy natural situation." -Hi-. Ilofl'man said he regarded Sir" Stall'ord Cripps and Mr, llarriman, Americun Amoassador at Large, as nien of \ ery high intelligenee. :''JL an; coulident that thev will be able to work out reasonable aud rational answers to the- prutdems thev have been diseuss* ing." ^ . Mr. Tloffnian said Britain was having the sanie troulde as , the " rest of tlie world in the transition period from a sellCr's to a buyer's markef. The British eeonomie sitinuion is being giveu {irominenee iii^ the- Ameriean news•papers. • The reeent deeline 011 the Loudon Btoek Exehange is one of the unsettling i'aetors affeeting the reeovery . of tlie kew York stoek market, which liit a four-year low 011 June 13.