The Wilmington Morning Star

Worse Than Inflation

In its dispatch dealing with a release from the Office of War Information which suggests the possibilities of a fireside chat by President Roosevelt on anti-inflation measures the Associated Press says there are indications "that government purchase of food products and resale at a loss may constitute the backbone of plans being considered in some administration circles."

This obviously means thought is given in Washington to a policy of pump-priming, the cost of which to American taxpayers cannot easily be appraised but which would be as disastrous as wildfire inflation and constitute a deadly blow to private enterprise if widely practiced.

That free enterprise is in grave danger is widely recognized. The threat against it, Dr. John F. Sly, professor of politics at Princeton university, told business leaders in Indianapolis a few days ago, is as serious as the military threat, and for the nation to survive the crisis of war "business must be unshackled, sustained by its own capital." "Free enterprise," he added, "cannot exist half state and half free."

President Roosevelt gave a hint of what is contemplated at his last press conference, when he told reporters that no anti-inflation program had been drafted and indicated that any step to be taken would require money only Congress could appropriate. This could mean the saddling of more debt upon the people for a system of merchandising which cannot by the greatest stretch of the imagination be considered good business. There is no reason to assume that the government can buy at a high price and sell for a lower price, and keep out of bankruptcy, than a merchant.

If such a policy is indeed seriously considered, the American people have reason to fear that a something worse than inflation is in store for them.