Show IN DEFLATION TALK I 1 unbridled inflation gossip Is the bull in the commercial china shop it Is responsible for a great deal of apprehension and may result in hampering recovery the attitude of the administration should prove helpful in dispelling hysteria which is almost certain to follow contin bation of emotional clamor without a definite program summoning his close financial ld bisers to confer in a sunday night session aslon Pre president roosevelt emerges with a reiteration of his previous stand against flat money the bus iness financial and industrial ture of the nation breathes easier as a result from the white house Is learned that the government will endeavor to exi asand ind credit through release of funds in closed banks and to raise the price level on corn com modules with the issuing kept un der control so it may be harmonized with the consumer purchasing pow er or this is a venture in managed re covery as contrasted with runaway inflation what creates fear Is the danger that any inflation scheme may get beyond control and resolve into flat money issue with consequent loss of confidence in the national curren cy As one product of this cy we have the official statement that american capital is already in flight to foreign countries and the danger of sudden stabilization of the dollar Is foreseen in the return flood of this capital which might bendan ger the financial structure of eu rope it is generally admitted that some sort of inflation is inevitable and the wage earners and those with fixed incomes likewise understand that they are the victims of this process of boosting prices faith in the curr necy of the unit ed states must be maintained at all hazards money must be something more than a promise it must be adequately supported and secured germany and france tasted the fruits of unbridled expansion and paid dearly for the experience president roosevelt shows a desire to combat radical demands with judgment he Is resisting the stampede with admirable cour age the complexities of the inflation question are too important to the welfare of the american people to allow halt half baked ideas to come in the course of the nation editorial S L tribune sep 26 |