If a schoolteacher told an unruly pupil that as long as his conduct did not disturb the rest of the class she would not disturb him, the pupil might not feel complimented but he would certainly feel reassured. Last week U. S. stock-traders felt guilty about high security prices, wondered if the current Bull Market foreshadowed inflation, menaced the nation's future. To them Marriner Stoddard Eccles, Governor of the Federal Reserve Board, replied from Washington.
"How is it possible to have inflation when men are idle and plants are idle? There can...
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