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Show Profits and Prices Up Let's check up a bit on the price situation, now that governmental gov-ernmental controls have been removed at the instigation of those who assured us .that full production would supply ample goods at reasonable prices. There can be little doubt that the price structure is almost entirely in the hands of business busi-ness men. Industry and business busi-ness have the initiative and the opportunity to put into effect price cuts which the experts assert is the greatest economic need of the country. Financial news reports give every indication that big industries indus-tries have enjoyed profits, making mak-ing price reductions not only possible but imperative. Prices are up, wages are up, production produc-tion is up and profits are up. The spiral will wreck mass-production mass-production economy. We should not overlook the fact that the figures show that the savings of individuals in 1946 were fifty per cent lower than in 1945 and. in fact, the lowest since 1941. This means that purchasing power is declining de-clining despite almost full employment em-ployment and that the market needs a shot in the arm to stimulate stim-ulate distribution. The financial sections of the larger newspapers report new highs in corporation earnin.es with profits after taxes in 1948 being generally and unusually large. .The trend seems to be on the upgrade, with rates of profits during the last quarter of 1946 higher than during the preceding quarters. If this continues, con-tinues, and it probably will unless un-less business reduces prices, the profits for this year will touch the peak. The President has suggested that business voluntarily reduce re-duce prices. Some leaders, the Ford and International Harvester Harves-ter Companies, have taken the ilead in making reductions. Despite De-spite the advice of economic experts, however, there seems to be little contagion in their example. With 270.000.000 Hindus and nearly 100,000.000 Moslems unable un-able and unwilling to co-operate politically, the prospects for, trouble need not bo exaggerated.. exaggerat-ed.. In addition, there are oth- er groups in India, notably the Sikhs, which have nothing but suspicion and hatred of .-The Moslems themselves. I We hope that the leaders of ! India, for the sake of their peoples, peo-ples, can adjust their differences differ-ences and manage to create a 'government that will keep law and order. This is necessary to protect the development of In-!dia In-!dia under the British. If civil j strife occurs u:i a large Sialo. I the I'h.mus are that much o. the fruit of British economic lleadoiship will be destroyed. I We are conscious that it is j not the popular thing, in thi day of militant minorities, t. 'suggest that the White race has made some contribution to the I civilisation of the world and t. the advaiuimetit of less fortunate fortu-nate ra, es. .Nevertheless. the history of India and other col-iCinial col-iCinial areas reilects the value o! Illie leade:s!;: which the colonial colon-ial lowers have given. By ex-.tending ex-.tending to the inhabitants o! the areas of empire th.e benefit of modern economic progress i and gradually acquainting I them with liberal policies, the colonizing nations have made I a maior contribution to the ad vancement (jf the world. |