Show I 1 SEES INFLATION A SLOW PROCESS A real danger for the future col i ayres tells banking groups NEW ew BatiN brunswick swim N W 1 present prospects do da not indicate that inflation severe enough to cause further dollar devaluation will come soon la a this country but as an ultimate develop ment it seems beems to be a very real danger leonard P ayres vice president cleveland trust company said here tonight in an address before the grad aate school of 0 banking he believed ahli statement to be true unless the gov government enters frankly upon a pol ley icy al 0 issuing flat bat money with which to meet its expenses at present that does doe not seem to be tn in sight eight lie said abi the graduate school to li operated jointly by the american institute ot of banking section of the american bankers association and rutgers university to offer advanced studies for bank officers we have so enormously increased the capacity of our banking system for credit expansion that it is a difficult to see how we could have bare a vigorous business revival without having it develop into a credit inflation colonel ayres declared inflation a slow process tro cesi it lunation inflation does come it will be a slow elow groces liewald he lie said sald pointing out that in germany france belgium and italy it took about five years yeara to develop from the time when the governments en upon policies of 0 financing large peacetime peace time deficits by bank credit up to the time when the public generally began begaii to spend money rapidly because of fear oar that it would till still further de vre predate clate la in purchasing power |