Show BANKERS CAUTION AGAINST INFLATION By Dy 1 J. J H. H President the American Bankers Association A recent meeting of the Executive Execute Council of ot the American Bankers Danken As As- Association attended as it was by br rep rep- representative bankers bank ers era from every f state In th the Union Un tin et ion ton afforded an ans an's s 's excellent opportunity to get et a composite view w of ot the business situation In the nation as at a whole Representatives of ot agriculture J. J H. H were present at atthe atthe atthe the meeting They The made mad It clear that the upward trend of affairs attain In business had not yet ret reached the farmer fanner and that his hll position poet thou tion of ot having to pa pay a relatively larger price for what he purchases as at compared with that received for tor what he sells sell I should be given riven the most thoughtful consideration fresh There were also allo present men from observing Ud and nd studying condl bons In Europe While the they lent encouragement encouragement en to the belief that European European European Euro Euro- affairs attain are slowly vet very very slowly slowly- righting them themselves solve i there Is le In the feeling generally expressed by American Ameri Amerl can bankers a distinct note of caution Questions Question of or the Hour One he hears au the questions n everywhere every everywhere every every- ry- ry where asked Are we going to permit permit per per- mit American affairs to ride again Into a situation of extreme Inflation which will wUl as al we all know be fold followed followed fol fol- lowed towed by another period of ot depression depres lion sion Had we not better keep business business bustness busi bust ness on a normal keel by not Dot going too rapidly Should not the banker be sounding a note of warning to business bush busi news ness men generally to keep Jeep their affairs af at fairy fairs well in hand the charts ts i Indicating di the trend of business show that we are approachIng approaching approach approach- ing lag the high point which followed the war This should be the signal to the conservative business man that expansion ex ez must be definitely controlled and that reasonable conservatism should be the order of the day To many this may appear the pessimism per pes m of ot the banker but let me sa iy say that the banker II f. I In a position to keep his finger on the pulse pulle of our economic situation and when there Is such luch a consensus on aD the part of many bankers that we are passing the safety safety safe safe- ty point and that we are riding Into another period of Inflation such luch opinion opinion I ion should not be looked upon as pes pee pessimism but rather as the advice of those whose business can prosper only as there Is ts general prosperity The banking situation In America Amend Is II sound lound and can only be harmed by undue un un- due doe credit expansion The banker should see lee that expansion does doe not again gain rain the headway that led us Into trouble before and the business businessman man nan should do everything possible to support the banker thus avoiding anether another an an- other ether parted of costly 07 de deflation atlon |