Milford chronicle., 1948-04-02
HENRY A. WALLACE continues

HENRY A. WALLACE continues to
crowd forward expressing in all of his
speeches unsOUnd notions that have no pO-
litical value. He is weakening the strength
of the Democratic party. Governor Dewey
charges "bad management and poor judg-
ment of our Federal Government" and he
traces it back to the New Deal, which depre-
ciated the dollar, boosted the national debt,
and discouraged production. Senator Taft
traces confusion in the Administration to
the New Deal and the continuation of it's
policy by President Truman. He seems to
match DeWeys optimism about getting the
Republican nomination. Harold E. Stassen
keeps pegging away and he expresses the
belief that war with Russia can be avoided
if we follow a consistent, intelligent policy.
He wants the United States to stop sending
Russian machine tools, electrical equipment
and other materials of part of Communist
war machine. All of the Presidential candi-
dates are pulling strings and expressing
themselves cautiously upon National issues.
The majority opinion in Washington indi-
Gates that the Democrats will not nominate
President Truman. Senator Byrd of Virgin
la is "favOrably mentioned" The Republi-
can battle is between Dewey and Taft Both
men have tremendous popularity and sup
port of the entire political organization and
the Republican party, including the power
full forces of the Senate and House of Repre-
sentatives. Senator Vandenberg stands at
the head Of the list of all "pOssibles."
WHEN YOU WALK into a store to buy
a dozen eggs, a pair of shoes, some kitchen
utensils or any other article, what is a fair
price? Is it the price that existed last year?
Or is it the price that was in effect in 1910,
or 1900, or any other date? That question is
obviously UnansWerable The price of any,
thing is made up of long list of factors, all
of which are in a constant state of fux. Raw
materials, wages, taxes, transportation en-
ter into it. So does the extent of consumer
purchasing power. So does employee eff
cheney and output. So does foreign demand
Tor commodities which are in tight supply
here. And so, to a very great degree, does
the fact that we have a record national debt.
after the most destructive war in history,
and the government is still spending money
at prOdigal rate. Business, on both the
manufacturing and retailing levels, gets
much of the blame for high prices. But bust
ness is as worried about them as any con-
sumer. Mass production and mass distribu-
ton are the backbone of the economy, and if
consumers are priced out of the market the
ultimate effect will be disastrous. A number
OF manufacturers have cut prices and alb
sorbed the loss. Retail margins, both indie
pendents and chains report, are shrinking
1ast, and the inventory problem is the cause
OF much concern and uncertainty among
merchants Everything possible is being
done to prevent further price increases, and
to effect price decreases when possible. It
should be widely known that retailers profit
margins are now generally less than under
OPA. The same thing is true of many man.
Ufacturers. The demand for arbitrary
acrOss-the-bOard price cuts cannot be met
No one knows what the future of prices will
be. But, by and large, they will be as low
as costs permit.