THE NATION: Going Down

Without quite daring to believe it, the U.S. watched prices go slowly, surely down.

The nickel cigar was back in Manhattan and the $1.99 shirt in Kansas City. A basket of groceries which cost a Des Moines housewife $4.19 a year ago could be bought last week for $3.29. The papers advertised sales in everything from bed sheets to mink coats.

The news was good; yet few consumers seemed to be setting off rockets. Maybe it was just a perverse American custom to worry when prices went up, and worry also when they went...

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