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Show "INFLATION TREND IS STRONG SAYS NATIONAL MAGAZINE Results of a survey made by a j nationally known magazine reveal re-veal that : I Inflation is running more strong-j strong-j ly than at any time in the last year and is gaining momentum. ! Spendable income of the peo-! peo-! pie of the United States income after -taxes reached an all time high' Goods and services upon which to spend income are larger in volumn than before the war. Industry is turning out 76 per cent more goods than it did in 1939. On the annual basis the spendable spend-able income of the people of this which is more than two and one half times the income the people had before the war and $30 billion more than they had to spend at the war's end. The total money sup'ply in the form of bank deposits or currency held by business firms and individuals, indi-viduals, now is $165,600,000,000 compared with $63.2 billion in 1939. Less than one fourth of this rise has occurred since the end of the war, but the big money supply is turning over more rapidly, rap-idly, and that fact adds to the inflation. in-flation. Bank loans have doubled since 1939, the big increase occuring after the war. From 1939 to 1945 the total went up from $22 billion to $28 billion. But since 1945 it has risen another $16 billion Earning of city workers have more than doubled, the average weekly pay going from $23.86 in 1939 to 41.72 in 1945 and $51.89 at present. - While the city worker's income has increased 13 per cent, the cost of living during the past four years has gone up 34 per cent. On this basis the city worker's income of $51.89 is worth $38.74 on the basis of 1944 dollars. In other words the average worker is $7.34 worse off today than during the war year of 1944. When OPA was abolished in June 1946, average hourly 'earning 'earn-ing were $1.08. Today after several sev-eral wage increases, average earnings are $1.29, an increase of 19 percent. The cost of living, however, has risen 28 per cent since 1946, so that actually the worker's wages have declined 7 cents per hour , On the basis of these figures it certainly is not labor that has profited from the inflation. Just who is responsible may be seen in a report of corporate profits as filed with the department depart-ment of commerce. These reports show that profits pro-fits after taxes, have been reported repor-ted as follows. 1939, five billion dollars; 1941, nine and one half billion dollars; 1946, twelve and one half billion dollars and 1947, seventeen and four tenths billion dollars. The big gain- of the city workers work-ers were made during the war when the total of their wages and salaries rose by $70 billion. Since the end of the war they have added ad-ded another $12 billion. Farm income from sale of products pro-ducts and from government payments pay-ments has more than tripled. From $8.7 billion in 1939, it is more than $30 billion. Farmers in the past three years have fared much better than city workers. The increase in the farm income since the end of the war has been $7.6 billion, which is nearly as much as the entire income in 1939. |