Inflation seer
Page 49
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One man who foresaw the dreaded inflationary effect of linking wages with prices no less than 30 years ago, and therefore could say "I told you so " with some justification, is G. W. Quick Smith, who served with such distinction in successive State transport organisations and is now a member of the Transport Tribunal as well as a pillar of the Carmen's Company.
His well-documented warning was given at the 1946 conference of the National Road Transport Federation, where CM's reporter dubbed him "the outstanding figure in the Brains Trust." Our reporter went on: "His clear and logical condemnation of the tendency to link wages with the cost cf living, which has the inevitable vicious spiral effect of raising both and causing inflation, was masterly and clear. The plan he advocates ... of assessing wages on a points system and using that system for a common basis for all industries, is one that deserves wide publicity."
Perhaps this clarion call by QS was lost in the general euphoria (if that's the word) of the occasion: CM's reporter thought it an outstandingly successful conference but "a sense of unreality prevailed." Delegates were irritated that the organisers wanted to devote time to long-term general subjects when the questions worrying operators were the need for plans to fight nationalisation; and to tackle the trickle of rate-cutting that looked like becoming a spate.
Yes, I did say 1946, in case you thought the complaint strangely familiar!