Detroit evening times. (Detroit, Mich) 1921-1958, 1941-08-04
Price Ennui
In Congress
Hits OPAX
G h oirma an S Re a 9 a
Surprises Leaders
By PAUL MALLON

congressional directors who are
handling il is causing some justi-
fable worry downtown in OPAX.
if not in the White House.
At matter of courtesy, Mr..
RooSevelt'S leaders in the House
asked Chairman Steagall Of the
banking committee if he wanted
10 handle the legislation. think
ing naturally tand hoping he
would not.
He is an inflationiSt. But they
had 10 ask him because the bill
was going 10 the similar COM
mittee i'm the Senate side.
MIR SteagaIl surprised them
by exhibiting graciouSness. He
said he would make the sacrl-
flee.
M4hin-24 -haais-and-eNen
before the bill had been handed
10 Steagall for introduction, the
administration leaders had cause
10 regret that every one had
been so darned polite.
BY then Mr.. Steagall had let
the world know more speed
would be possible on the leglsla-
ton had he been lei in on The
conferences of officials in which
the bill was framed.
At his side on his committee
will be Rep. Wright Patman,
the hottest inAatiopiSt- in Con-
gress. Mr.. Patman also Will
certainly require a long time to
study all phases. as he was not
in on the preliminary confer
enceS either
an THE Senate side, the bill
~ is to he handled by Senator
Carter Glass. a strong anti
inhationlSt. Who. r a n & g y
enough, is not particularly en-
amored of it either.
Glass never liked one-man con-
trolls. He thinks they smack OF
dictators and he does not like
dictatorS. Singly or in bulk. With
the general proposition OF price
restraint, however, he is Sympa-
thetic.
The plan. therefore, IS certain
10 get considerable study, If not
more. before it reaches the Presi-
dents desk,
WHAT Mr.. Henderson and
w OPAX are after primarily
in this bill is the price of every
thing containing metal or lum-
her. These two commodities are
the soreSt spots. They cover
practically everything in your
building or your home, except
food and clothing.
Those who are handling the
matter for Mr.. Henderson would
be content TO halt these prices
first. avoiding the fixing of a
general overall price ceiling inn
mediately after the legislation is
passed.
Their figures Indicate the ma
tional income will squirt from
$3.50 billion dollars this year TO
95- 100 billions next. Purchasing
power will he up some 10 per
cent at a time when production
of, what they call consumers
durable goods (autoS. refrigera-
tors furniturc) must be cut 80
per cent.
There viii he 10 per cent more
money TO be spent for half as
much goods. CThey really intend
TO cut auto production, for in
stance. from 100000 cars this
year to about 100000 next, re-
CARELESS of Mr.. KnudsenD
Thus, they say rationing as well
as price-fiXing will have 10 come
10 this country within another
year.
IF NO general freezing order is
L 10 be issued. it is apparent
the general price level will not
stop. Even il one were issued.
II IS probable a 10 or Is per cent
further rise would deVeio
through loopholes and price
Logging.
tTurn-in values of used
cars can be fixed. for instance,
hut indirect premium pay
mcntS might be necessary 10
huN them IN a sellers mar
ket, such as is AT handl
"A certain amount Of further
price initiation, therefore. seems
inevitable, no matter what is
done. and considerable initiation
VIII result If tho forecast mild
tactics are followed through.
nUR good neighbour Brazil must
~ never have heard of Mr..
Henderson or initiation either.
She has uppcd hcr fixed price of
coffee another las cents per
pound. BEFORE this final boost.
she had already increased il 100
per cent since last April l6 when
the coffee agreement was made.
A. the United States is about
Tho only big market left in the
world and as neighhor Brazil
seems 10 keep pricing her coffee
increasingly higher. those who
have been handling Uncle Sans
affairs here have been grinding
their teeth IN the roots.
They are Threatening 10 in
crease the quotas from Colombia
and otherwise manifest their
dlspleaSure
But Brazil knows her patiicu-
lar kind of coffee Is necessary
for American blending. and says
She upDcd the Drirp heoauec he,