Evening star., 1945-05-02


they could result in disaster second
only to military defeat.
Recently the heads of four wal
agencies which have to do with
these problems-the directors of the
Price Administration and the Food
Administration, the chairman of the
War Labor Board and the economic
stabilizer-joined in a statement to
the late President, Mr.. Roosevelt
reviewing the results of the stabi-
lization program, pointing out the
dangers of relaxed vigilance after
We day and urging that wage and
price controls be retained for an in
definite period after the war.
Menace Is Recognized.
This is encouraging, because, for
one thing, it recognizes that the
menace of ruinous imitation will be
greatly enhanced after the war ends.
For another, it evinces desire to
profit by the mistakes of the last
postwar period which resulted first
in imitation and then in the worst
or at any rate, the largest-of all de-
pressions up to that time.
But there are three reasons why
the statement of these four agency
heads is discouraging.
First, it seems to argue that If
prices and wages are stabilized
nothing else need be done. But
prices and wages are only part Of
the problem; taxes and debt are
even more basic for its solution.
Second, even though these four
men work together with encourage
ment from the President, it will not
be enough. They need to be joined
by the War Mobilization Director
and the Secretary of the Treasury.
Without these two there can be
no really effective lineup against
postwar imitation. 1t is unfortunate
that they were not included among
the sponsors for the statement.
This fight to hold the line" can
not be made by two individuals or
four individuals. If it is to be a
winning fight it has to be made by
the full team. The men who have
responsibility for taxes and debt
have got to cooperate whole
heartedly with those responsible
for wages and prices. Even that is
not enough. The team has to be
co-ordinated.
There has to be comprehensive
plan-and single clear and COM
petent directing brain. No evidence
Of the existence of such a brain
has yet been given. Proof of this
Is in the manifest confusion among
the four agency heads, as evinced
In their statement. This is the
third and final discouraging thing.
Keeping the Controls.
For example, while it is essential
to resist the inevitable pressure 20
relax irksome controls, certain to
come once the war is over and re-
conversion really begins, it is equal
ly essential to know what the con-
trolls are to be used for.
So far as this is concerned, as
the New York Times points out, the
four administrators seem unable to
make up their minds as to whether
the real danger is "a runaway price
rise" or postwar collapse Of val
ues." Actually, they appear to fear
both simultaneously.
Certainly so long as there is dan
ger of either the controls should
be continued, but it would be en-
couraging if the administrators
could make up their minds. Per-
haps President Truman will make
them up for them.
The debt limit, recently raised to
$500, 900 100000, will have to be
raised again next year to 1925, ,0O0,-
100000. Yet there is already a DEM
agogic movement in Congress to
reduce taxes, not only on corpora
tions, but on individuals.
Combine this with the unprece-
dented amount of currency in the
country and the obvious fact that
all our fiscal problems are of an
immensity never before approached,
and it should not be necessary to
argue that the Nation ought to
have at its service in Washington
the men who know most about
money in all the country.
No one will dispute this, but no
one will claim that there were any
such men in the Roosevelt admin
istration-or in the Truman admin
istration-as yet. The truth is that