INFLATION CURB
WALL ST. MUST LEAD SYSTEMATIC PRICE CUTS U.S. LEADERS’ OPINIONS (10 a.m.) NEW YORK, April 28. "The initiative in combating inflation must come from Wall Street and not the main street,” declared the former Mayor of New York, Mr. F. H. La Guardia, in a broadcast in which he described as a big fuss the official Government enthusiasm for the new, Newburyport plan of an over-all cut of 10 per cent in retail prices. "There must be a reduction in profits at every level; the retailer cannot do it alone,” he added. Mr. Leon Keyselling, vice-chairman of President Truman's economic coun-. cil, broadcasting from Washington, also emphasised the necessity for large, systematic and orderly price reductions, declaring that the decrease in wholesale and retail prices must be synchronised.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22316, 29 April 1947, Page 5
Word Count
130INFLATION CURB Gisborne Herald, Volume LXXIV, Issue 22316, 29 April 1947, Page 5
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