Washington, Feb. 19.
President Roosevelt announced during a press conference to-day that he was seeking a balanced price structure, and indicated that the deflationary trend of the last half-year needed to be reversed.
The aim of the Administration's industrial, agricultural and monetary policies, the Chief Executive stated, was a moderate rise in the general price level, which was the key to full employment and a higher national income, together with a better balance between competitive and administered prices.
This did not mean inflation or further devaluation of the dollar, he declared, A moderate rise of the general price level was desirable, he said, büt any rise should be limited to the class of commodities which was too low. Nor should the rise be so great or long as to encourage a speculative boom.
Text read from the printed page and cleaned; old type leaves the occasional error.