Inflation

Cover Inflation
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A rise in prices due to monopoly is, in almost all cases, opposed to the public interests and ought to be controlled if possible.
Monopolies in war time generally impose excep- tional burdens on consumers and instead of stimulating production they impose a check.
The chief working rule of monopoly is to shorten supplies.
There is moreover an effect of these monopolies in war time that is far more prejudicial to the national interest than the burden on consumers and the check to production.
Such
... practical monopolies — and they arise not only in food and other ordinary necessaries but in all kinds of war necessaries — such practical monopolies give to particular producers or parti- cular traders or manipulators or speculators very large unearned increments. The moral results of these undeserved gains is, in general, bad for the receivers themselves and it is worse to the nation at large. With regard to the winners of these large gains it checks parsimony in the good old sense and it stimulates extravagance in the bad old sense.

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