That means the national income has been rising. That, again, is only the beginning. In 1943 the supply will be still lower and the national income still higher. In one way or another this great discrepancy between potential spending and the supply of goods available must be reconciled. There are only two ways.
Prices can rise until the cost of the goods available equals the amount of money available.
That is what has always happened elsewhere under such conditions. That is inflation. That is one possibility. It is not pleasant. The alternative is to control the volume of spending by taxing heavily, keeping profits at a low, reasonable level, fixing ceilings on prices and rents, putting limits upon wage increases, preventing farm prices from rising, limiting consumer credit, pursuing an energetic program of war savings and debt repayment, and rationing all essential goods that become scarce.