Indianapolis Times, Indianapolis, Marion County, 28 November 1941 — Page 30

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HOARD SUPPLIES

Some Buying -Canned oods, Clothes; Majority Expect Price Rise.

By GEORGE GALLUP

Director, American Institute of Public Opinion

PRINCETON, N. J., Nov. 28.—As | {i the - House of presentatives wrestles with a price control bill to curb mflation, one question of special interest to student of economics is this: How many people throughout the country are laying in goods

now to protect themselves against > hig prices

that feat of in prices often A CAN y causes a rush to buy goods, and PUBLIC’OPINION] that this rush, 4n ~ turn, tends to drive prices up, starting the spiral of inflation. To find the facts| concerning the situation today the Institute has "conducted a nation-wide survey whose results poi to two main facts: First, more than eight in every 10 persons polled believe that prices on most products they buy will be higher six months from now, but, second, only a small percentage of them—about one person in every six—has up to this time laid in any s or products jas a protection

Those who have [laid in supplies have bought chiefly non-perishable * food products, especially canned goods. Several aspects of the price issue were covered in a|series of questions as follows: “Do you think prices on most products you buy [will be higher, lower, or about the e six months from now? Higher 900000 OOOO 800000000 Lower ees 00nseRORee 2000000 QOS Same sSsescessssseiqescssasse Don’t know as eset (EEE RE NEN RJ Those who said |“higher” -were asked about how much higher they thought prices would go in the next six months. The median averpage of all replies was 10 per cent.

opinion on this issue are taken into account, the median average would be slightly less than 10 per

cent. How Many et Bought?

The next question |of the survey 3 was: | A “Have you laid in| any goods or .products- in order “to protect yourself against highes! prices later on?” | Those. who ied prices were

‘going higher replied as follows to . this question: Yes ceressceresnssiderienene 18% NO ceecvreeceess ive The 18 per cent who answered affirmatively were en asked, in the final question of the survey: “What things have ‘you bought?” _ The list of products ranged all the way from canned milk to automobiles. In order of mention the products named were: Non-perishable foods, particularly canned food, and also sugar, salt, tea, c.; clothing; home furnishings, including furniture, radios, refrigerators; automobiles; heating fuel; soap and cos*metics; and miscellaneous, including liquor, tires, electrical appliances, and, in farm areas, fertilizer, seed and grain. ~~ While there is no telling what may happen in the next few months * if prices continue upward, nevertheless there seems to be little evidence of any extensive buying Jor hoarding purposes at the present time. Such buying of this nature which does exist- is not confined to the upper income groups, the poll finds. Many in the lower-income group reported that they were buying fresh fruit and vegetables for the purpose of canning, as a protection against higher food prices in th future. ' The proportion of persons by in- . come groups who say they have laid in supplies is as follows: Upper income group, 20 per cent; middle income group, 22 per cent; lower income group, 14 per cent. |

~~ ANTIQUE PRICES HINT} INFLATION IN REICH

BERN, Nov.. 28 (CDN).—Die Tat of Zurich today cites the high prices currently paid for antiques and pic- | * tures in the shops of Germany and occupied France as indications of inflationery tendencies there. A South Tyrol chest brought 15,000 marks in a Munich auction this month, according to Die Tat’s account. A 16th Century bedstead produced a similar bid. Two paintings sold at 13,000 and 16,000 marks . respectively. Previous to that, a 'block of four green 15-centime French stamps, from 1849, were sold at a Paris auection for 115,000 francs and a half_liter bottle of old Chartreuse for 1450 francs, according to Die Tat.

MIR FORCE BACKING - ROAD ‘FLIGHT STRIPS’

WASHINGTON, Nov. 28 (U, P.). —The Army Air Force announced yesterday that it will co-operate with the bureau of public roads in expediting the projected $10,000,000 chain of “flight strips” along public highways. fies The strips are to be used for emergency plane landings, and were au in the 1941 defense highway They will be located within a radius of 5 to 50 miles from _ air bases. : of

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