| Show BANKERS CAUTION AGAINST INFLATION by J H president the american bankers banker association A recent meeting of 0 the executive council of the american bankers As ocl atlon attended as it was by representative bankers ers from every state in the unton union F afforded an excellent excelled ex cellen t opportunity to get a composite v view 10 w ol of the business situation situa tiou in the nation as a whole representatives f ot of agriculture J H P uell cher were present at the meeting they made it clear that the upward trend of affairs in business had not yet reached the tanner farmer and that his position ot of having to pay a relatively larger price tor for what he purchases as compared with that received for or what he sells should be given the moot moat thoughtful consideration there were also present men tresh fresh from observing and studying conditions in europe while they lent encouragement coura gement to the bellet belief that european affairs are slowly very slowly righting themselves there Is in the feeling generally expressed by amerl can bankers a distinct note of caution questions auctions of the hour one hears the questions every where asked are we going to permit american affairs to ride again into a situation ot of extreme inflation which will as we all know be followed by another period ot of depres slon had we not better keep business on a normal keel by not going too rapidly should not the banker be sounding a note ot of warning to business men generally to keep their at calro well la in hand the charts indicating the trend ot of business show that we are approaching the high point which followed the war this should be the signal to the conservative business busl nesa man that expansion must be definitely controlled and that reasonable conservatism should be the order of 0 the day to many this may appear the pessimism of 0 the banker but lot me say bay that tho the banker to la in a position to keep his finger on the pulse of our economic situation and when there is such luch a consensus on the part of many bankers banker that we are passing the safety point and that we are riding into another period ot of inflation such ion should not be looked upon as pes but rather as the advice ot of those whose business can prosper only as there Is general prosperity the banking situation in america Is 18 sound and can only be ba harmed by undue credit expansion the banker should see that expansion does not again gain tho the headway that led us tato trouble before and the business man should do everything possible to support the banker thus avoiding another period of costly donation deflation |
