OCR Text |
Show '"Wages Up, Prices Up Inflation!" If the "considered policies" of Congress to hold the line against inflation are abandoned "then , higher salaries will result in higher high-er rents, higher professional fees, all along the line." Thus stating its position in regard re-gard to the Little Steel formula before the National War Labor Board in Washington, General Motors Mo-tors Corporation asserted that: "Prices and living costs will soar. There will be new demands on every purse still higher incomes in-comes will be required more wage boosts still higher costs resulting re-sulting wages up, then prices up, then wages up, then prices up in a runaway rise in the cost of living. A breakdown of confidence on the part of everybody will result. Employment Em-ployment and business activity will suffer. "That's inflation. And that's the most dangerous and unbeatable unbeat-able enemy of all, which we must continue to fight even after our military enemies are conquered." |