EFFECT ON INFLATION IN U.S.

Press, Volume LXXXIII, Issue 25308, 7 October 1947, Page 7

EFFECT ON INFLATION IN U.S.

Another reason for conserving food is to aid in controlling inflationary spirals and in preventing undue price ' burdens for our own people. Already 1 many American families with moder- ' ate or low. incomes are being forced ’ by high prices to lower their standard J of living “Fxnorts have some effect upon the 1 domestic prices of grain, but they do < not exercise a controlling influence'on < icod prices. Most of the upward pres- < sure on prices is a result of competi- • tion among Americans for scarce ] foods. i ‘ The success of our food-saving pro- 1 gramme will help to reduce these in- 1 fiationary pressures. < “All segments of our population must make their contribution toward < saving grain. Farmers must co-oper-ate by reducing the amount of grain 1 now used .to feed their livestock and J poultry. Industry must reduce the 1 volume of grain used, so as to make 1 the greatest possible saving. j

“Distillers in this country have on hand huge stocks of distilled spirits, and it will be no hardship on them to shut down for a 60-day period. This action afbne will feed millions of hungry people. “The batlie to save food in the United States is the battle to save our own prosperity and io save the free countries of western Europe. Our selfdenial will serve us in good stead in the years to come. The voluntary programme .is the best way for us to do the job. We believe that self-con-trol is the best control. From now on we shall be testing at every meal the degree to which each of us is willing to exercise self-control for the good of all. “The programme which has been you to-night, faithfully carried out, will save grain that we need. Hungry people in other countries look to the United States for help. We must not fail them.”