PRICE FLUCTUATIONS
DISASTROUS FOR AMERICA PRESIDENT’S DECLARATION WASHINGTON,, October 10. (Received Oct. 11, at 10 p.m.) “No hope for the stabilisation which is so urgently demanded by business and industry can be held by the Administration until the disastrous price fluctuations, characteristic of the last 15 years in American economic development can be first confined within reasonable bounds,” President Roosevelt declared to-day, when explaining the economic necessity which compels the Administration to seek a further advance in prices in order to bring the national assets well above the level of the existing liabilities of the nation. The President pointed particularly to a survey showing fluctuations of from 500 per cent, to 1|)00 per cent, in many instances in price movements since 1020. “ Henceforth,” the President added, “ the Administration will direct all its efforts towards raising prices and wages to reasonable levels, where they will be atalibised.” The President indicated that dollar manipulation might be a factor in controlling the price level. ,
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Bibliographic details
Otago Daily Times, Issue 22391, 12 October 1934, Page 9
Word Count
161PRICE FLUCTUATIONS Otago Daily Times, Issue 22391, 12 October 1934, Page 9
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