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Sumner H. Slichter, Lamont University Professor, told the National Confectioners' Association Wednesday that he expects the cold war and high taxation to continue for the next few years.
Speaking at the association's annual convention in New York, he added that despite this, present prospects should give rise, to "considerable reassurance."
Industry's capacity to expand production, he said, is growing more rapidly than ever before, due chiefly to scientific and technological contributions. Further more "the economy is not becoming tradition-bound," he said. "It is not losing its capacity to develop new products or new processes."
Government intervention into economic affairs will continue to grow, Slichter predicted, and while much of it represents merely "the efforts of politicians to buy votes," he declared, much of its meets real needs and strengthens the economy.
"Certainly the country is better off with some control of credit than without it, and the authority to control credit should be broadened and strengthened," he said.
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