INFLATION: Manila Market

Said the Manila Chronicle : "One of the most lucrative trades in Manila today is selling Army goods, obtained by hook or crook, at black-market prices. Eating places sell bread, butter and coffee with condensed milk, pies and other delicacies made of materials that can be obtained only from the Army. Small boys roam the streets everyday, peddling candy, cigarets and whatnot bought from G.I.s needing ready cash."

Last week the U.S. Army went diligently to work to stamp out this lucrative trade. But its curative measures were no match for the economic pressure which caused it. Like most...

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