SUMMARY OF REMARKS BY E. W. LITTLEFIELD AT THE BUSINESS COUNCIL IN HOT SPRINGS, VA. _MAY 9, 1969_ In commenting on inflationary trends in mining and construction industries, mining was not considered to be an important factor in contributing to general inflation. It was pointed out that coal was the only major mineral in which the United States was self-sufficient. Increases in productivity and the discipline of international competition and competition among the minerals themselves had largely offset factors tending to increase mining costs including wage increases last year that were about in line with the national average. Coal prices have decreased while prices of lead, zinc, iron ore and aluminum while fluctuating were not substantially changed from the highs achieved during the last decade. Only copper had shown a substantial increase domestically, but domestic prices were still substantially below prices on the London Metal Exchange. In contrast, the construction industry is a classic example of cost-push inflation proceeding at a rate too great to tolerate in the national interest. Construction costs are increasing rapidly and particularly wage settlements are high and accelerating with no relief in sight. Wage increases in construction are not being offset by increases in productivity and the 1968 settlements in construction range from 3 1/3 to 5 times higher than the size of settlements in other labor industries. It was suggested that the situation in the construction industry was unique and that inflation in construction costs could not be controlled without structural changes in the industry. It was argued that the relative