Indianapolis Times, Indianapolis, Marion County, 15 June 1951 — Page 17

3 0. EARL RICHERT ~Howard Statt Writer WASHINGTON, June 15 «=

‘was! President Truman is riding with}

the experts, both government and| had been employed! .io when he predicts that the ‘Mr. [full force of inflationary pressure is still to come.

Rarely in the ;

A niece; Mrs, William J. Mar-ination's eco A nomic history | has there been |

Services are being arranged by such unanimity

trol law.” Speaking only a. few hours ahead of Mr. Truman, J, Cam:

|eron Thomson, president of the

Northwest: Bancorporation and chairman of the fiscal subcommittee of the Committee for Economic Development, a private organization composed of businessmen, said at St. Louis:

Lull Before Storm “We are now enjoying a lull in

For Prisoners Is Halted

ES MOINES, Towa, June 15 lull after

ishment for throwing their meals on the floor. the two-day bread and

water “Everybody

they were served.

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ijprice ~ cutting ete, is only the the (UP) ~ Prisoners at the Polk first big blow. A County Jail were off a bread-and- second and bigwater diet today, but their priv- ger storm is coming up fast, one/ful inflationary movement unless fleges were still revoked as pun-|yy.¢ will blow prices through the Strong counter - measures are

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Jones and Mathews at Browns- Of opinion on the inflationary pressure which burg: the out look a {swelled up after the attack in ag The present Korea. Bread and Water Diet [period with

the inflationary force of the deifense program to gather more imomentum. This inflationary force will mount and will almost certainly give us another power-

Mr. Richert

Itaken.” Stabilization Administrator Eric Johnston, a former businessman, should under- has said that “we're sitting on an

regime last night. He ordered stand,” President Truman told economic time bomb” which will the punishment when 102 pris- the nation by radio last night,|blow prices sky-high unless Cononers threw away their meals ‘that the price rises we have had gress acts to renew and strengthTuesday to protest the amounts so far are only curtain raisers to en the controls setup. iwhat will come along if Congress! Even the opponents of price-

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Truman Predicts Price Blowup

fails to pase a strong price id

« «+ One might say that|were testifying before Congress ‘the economy is now waiting for|that inflationary forces were still

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thé methods to be used to fight inflation.

economic house can be made strong enough by pay-as-you-go taxes, credit controls, etc., without price-wage controls.

wrong « before. large unemployment and a depression after World War II. In

‘under way,

controls agree on the outTheir disagreement. is on

They ‘contend that the nation’s

Can the experts be wrong?

It’s possible. They've been Many predicted

early 1949 when a deflation was Mr. Truman's aids

dominant, ‘It was more than a year later before prices started moving upward again, before Korea. The Agriculture Depart-| ment, with batteries of experts,

uction of civilian hard sharply, With high payrolls (even after increased taxes) this situa-

inevitable to the experts.

billion increase in federal expendi-

likely will go up by at least an-

$ re i ne, Mrs. Harbaugh a ons ut “ares Rites Tomorrow

tion makes more inflation seem %°n Harbaugh, who died yesterday in Methodist Hospital where|will play Sunday and seniors MonMr. Thomson pointed out .that/she was employed, will be at 3|day evening. : there likely would be nearly a $30|p,

Recital to Be Given Mrs. Naomi Gray will present her piano pupils in two recitals at, -

Servi $ { {3 p. m. Sunday and 8 p. m. Mon-~ ces for Mrs. Judith Stim-l, vu) Riddick auditorium, 1440

N. Meridian St. Junior students

m. tomorrow in Royster &

Burial will She was 19. A native of Bloomington, Mrs.

RISKING 18 UNNECESSARY! \\- ire rine he orth Aaca|Askins North Meridian Street, when something's 10st place an | year, starting July 1. And federal Mortuary. expenditures in the following year| Crown Hill

in| fndianapolis Times Lost & Found |Ad. PHONE Ri-ley 5551.

¢ DELICIOUS Ho More 1ewdt* ° MACARONI

“With federal spending

other $10 billion and possibly $20 Harbaugh lived in Indianapolis|

billion to arpund $95 billion a the past ears and was a grad-| year. This does not contemplate P Wy gra X! i ft War, any expansion of the Korean hod She was a cashier in the hospital

that, terrific pressures are as cer- the past three months.

uate of Shortridge High School.

tain as night and day,” said one

Survivors include her "husband,

private economist.

Swell— LONDON, June 15 (UP) —Don’t jump to conclusions

has been wrong too many times to count. |

Billions for Defense

But by all rules, the experts should be safe this time. The gov-| ernment this fall will start pour-| ing billions of dollars into the| economy to pay for defense goods —_ re abn

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