Slichter Sees Economic Prosperity Ahead, Claims New Families Will Benefit Business

Spinner H. Slichter, Lament University Professor, predicted and era of economic prosperity for the United States as its production volume rises from the present rate of $194,000,000,000 to $300,000,000,000 by 1960, the Associated Press reported last night.

Speaking before the National Association of Mutual Savings Banks in Boston, Professor Slichter also forecast a favorable economic pattern for the immediate future. One million additional American families instead of the usual increase of 600,000 will enormously stimulate the demand for household equipment, he said.

"I'm am not yet prepared," Slichter stated, "to accept forecasts of 6,000,000 to 7,000,000 unemployed this year."

'Dynamic Drive'

Pointing out that United States economy operates under 10,000,000 separate budgets, he declared that "no regimented economy can hope to compete with such dynamic drive."

Britain and Russia "haven't a chance" to compete with American business, Slichter said, unless they can develop new business ideas.

America's principal economic obligation will be to increase its import trade when other nations are prepared to send us goods. We cannot gain permanent friends by continuing to lend money, the University Professor said.

Estimates Price Rise

During the forecasted period of prosperity, Slichter warned that the United States can expect an annual price rise of 20 to 80 percent. Technological advances will be unable to keep pace with demands for wage boosts, and industry will maintain its profit margin by smelling prices.

The organized labor force of 14,000,000 workers is capable of maintaining a steady wage increase of about three percent a year, he said.

American economy will be under careful actually in the future as it is compared with other systems. "This will tend to keep us on our foes," Slichter said.