Buying Power under the Recovery Program

Archive Report

The Central Question of Prices and Purchasing Power

The Farmer's Revolt against the N. R. A., the new gold purchasing plan and the pressure for inflation, the Buy Now campaign, the administration's credit program, and the re-doubled efforts to speed up construction and increase employment in heavy industry all emphasize the extreme importance of consumers' buying power to the success of the recovery program. There has been a marked falling off in production and business activity since July, coinciding with rapidly rising retail prices and a drop in prices received by farmers for their products. The inferences to be drawn from these facts appear to be that prices are overtaking, or already have overtaken, the increase of buying funds in the hands of consumers, and ...

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