The business situation this Fall has not lived up to the expectations entertained for it earlier in the year. Wholesale demand, except for building materials, has slackened significantly, and merchants are finding again that the consumer vigorously resists retail prices continuously jacked up.
From one standpoint, the whole situation is in the main simply a phase of the regular business cycle; from another, it serves to illustrate the shortsightedness of the mercantile community. The year 1920 should have thoroughly taught the lesson that higher prices mean curtailed consumption. Today the very merchants...
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