PRICE FIXATION

Northern Advocate, 12 October 1934, Page 5

PRICE FIXATION

REASONABLE LEVELS . < I AMERICA’S NECESSITY. ROOSEVELT DOCTRINE. (United Press Association—By Electric Telegraph.—Copyright.) (Received 9 a.m.) _, WASHINGTON, October 10. President- Roosevelt today explained the economic necessity which compels jthe Government to seek-, a further adI vance in prices* in order to bring tiK nation’s assets well above the level of its existing liabilities.* 'Mr Roosevelt said u th'at no hope for the stabilisation which was so urgently demanded by business and industry could be held out by the Government until the disastrous fluctuation in prices characteristic of the last 1. years of America’s, economic development could be first confined withn reasonable bounds. The President referred particularly to a survey which showed fluctuation of from 500 to 1000 per cent, in many instances in price movements since 1920. Henceforth, he said, the Government will direct all its efforts toward raising prices and wages to reasofiable levels, where they should be established. Mr Roosevelt indicated that dollar manipulation might be a factor in controlling price levels.