Show NO TEACHERS PETS NOW testifying before the lictus se banking committee chairman eccles of the federal reserve board that inflation could not be prevented if wages and salaries constitute the main factor in establishing prices are allowed to indiscriminately in addition he added congress should consider suspension of tho the 40 hour work week during the emergency and if necessary ces sary extend the week to hours mr eccles views are reflected by most economists the fast rising wage trend has been a strong and growing influence for price inflation in all fields if labor continues to demand higher wages it may find out before long that it will suffer not gain it avails a man nothing if his income rises for instance 2 a day while the cost of living ad advances as much or more so far as the work week is concerned it is ridiculous to suppose that we can keep defense production to to schedule while working on a peace ame basis in some very vital industries of which coal is an outstanding example the work week is as lo 10 low as 35 hours th s definitely imperils im perils the nations supply of basic materials labor like like all other groups must make some sacrifices too mr eccles simply pointed to the inevitable the period of business las tas usual and politics as usual is over for the duration of the emergency and that includes the activities of racketeering labor leaders no less than profiteering capital or vote seeking politicians exchange |