The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
JAMES MCCAFFERTY RESIDENT H.'w "WAGNER MANAGER MANAGER Ü C T E L L E W I Í T C W N L E W I S T C W N. P A . OgeJuJ^^^^W to Pía Y-Ä" 2 % / ? ¿ y HOTE/L H U N T . N G D ç t f f ï J N D E R S A M E . / MANAGEMEN| ^ a¿7 W* MMs s3¿~ //CLrrt^ä Penna. o ®Q'< ^e^ <?e "-i?, llaroh 1, 19U6. Mr. P. J. Dunbar, 817 North 16th Street, Rarrisburg, Pennsylvania. Dear Mr. Dunbar: This is to acknowledge your letter of February 26. The pre88 reports unfortunately misrepresented say testimony. 1 did not predict that there would be a I4O per cent increase in the cost of living over the 19Ul level. However, I did say that if the degree of inflation were held to that level we would have done a fairly good job considering the enormous cost of the war and the way in which it was financed, and considering also the inflation that has taken place practically throughout the world, except where governments, as in Britain and Canada, have managed to control the situation. We have not done quite as well as the British and Canadians, but neither have we done much worse than they. Tou are, of course, right that increases in the cost of living bear most heavily on the fixed income groups. I am venturing to enclose a copy of a prepared statement 1 made before the House Banking end Currency Committee which outlines in a general way the inflation problem as 1 see it and what should be done to deal with it. Sincerely yours, M. S. Boeles, Chairman. Enclosure
@FedFRASER