The Old Question

Is the boom about over? After a summer lull in public speculation, the pundits took up the question again.

Harvard's sage, grey Sumner H. Slichter, who had rightly warned of inflation dangers while others mistakenly worried about a recession, finally thought that the boom was tapering off, but he saw no bust in sight. There were plenty of signs of the boom's end, he told the Mortgage Bankers Association in Manhattan, "in the slackening rate of increase in spending, in the slower rise in prices and wages, in the halt of the increase in bank credit, and in the drop...