WAVE OF INFLATION IN UNITED STATES

Ashburton Guardian, Volume 66, Issue 248, 1 August 1946, Page 5

WAVE OF INFLATION IN UNITED STATES

BUSINESSMEN CONCERNED (Special Correspondent N.Z.P.A.) (Rec. 9.30 a.m.) LONDON, July 31. The opinion that the United States is in the middle of a wave of inflation and that the labour situation there is almost out of hand was expressed by the chairman of the Glasgow Chamber of Commerce, Mr E. R. Boyd, when he addressed the Chamber on his return from a tour of the United States and Canada. Mr Boyd said he found many American and Canadian businessmen who viewed with admiration the confidence and determination* with which Britain was attacking her post-war problems. Many Americans he met expressed the opinion that Britain was “in the happy position of keeping her- feet on the ground.’’ He found business and financial circles in New York restless and unhappy, said Mr Boyd. The regulation of prices was causing much anxiety, and businessmen were uneasy about the ability of the Government to carry out effective price control. At present there was no doubt that the door to inflation was wide open. . Canada was also affected by inflationary tendencies, but not to the same extent as the United States. It was obvious that Canada had made great strides industrially and was very conscious of her increased stature in the life.of the Empire. ' “In both the United States and Canada we start with a valuable asset in good will and, if we continue quietly and confidently on our way without being led aside into the realms, of experiment in wholesale nationalisation my firm, view is that we need have no fear for the future,” he added.