U.S. Stability Held Based On Controls
The basis for an optimistic outlook on business in 1956 is the powerful procedures developed to keep the economy from spiraling inflation or deflation. This reason was expressed yesterday by Arthur R. Upgren, dean of the Amos Tuck School of Business Administration, Dartmouth College in addressing the eighth regional conference of the American Savings & Loan Institute at the Sheraton-Park Hotel.</br></br>Dr. Upgren referred to the record of housing expenditures to emphasize the strength of the economy. He recalled that President Eisenhower said about a year ago that the gross ^national prodiction in 1956 might reach $500 billion, an estimate of the Joint Committee on the Economic Report. The output for 1965 was calculated at $535 billion.</br></br>When the estimates werei made housing expenditures! were at the annual rate of $11.8. billion. The housing estimate j ifor 1956 was $16 billion. In the) second quarter of 1955, total j housing expenditures were at [the annual rate of $16.3 billion,1 so that the actual rate of outlay in one year surpassed an [estimate made for 11 years ahead.</br></br>William J. Hallahan, member of the Federal Home Loan Bank Board cited the course which legislation affecting savings and loan association takes. It is not only studied by both the United States Savings & Loan League and the National Savings & Loan League, but also by other financial interests. In short, it is considered from every point of view, be said.</br></br>Ray Owen, first vice president, American Savings & Loan Institute referred to the rapid; [growth of the population and' stressed the need for training' personnel lo administer the pol-j icies of savings and loan institutions.