The Wilmington morning star., 1946-02-22

Washington, DC.
Hon. J. Bayard Clark, NC
Washington, DC.
My dear Bayard:
am attaching hereto copv n
letter which have written Sem,
tors Bailey and Hoey outlining nv
views In regard to the extensior
OF the price-control program.
I hope you also will lend von,
support towards attaining the ~.
suits l have suggested.
Nathan S. Haskell,
Hon. Josiah W. Bailey,
United States Senator,
Washington, Z. C.
Hon. Clyde r. Hoey,
United States Senator,
Washington, D. C.
My dear Senators:
I wish to preface my remarks
in this communication by stating
that I am unalterably opposed 10
any planned economy. but un.
der present conditions in our coun,
try 1t is my studied opinion that
the security OF our future is de-
pendent upon the continuation for
at least another year, after June
30th next, of a strong price con-
troll.
While scarcity Of goods Is The
principal thing that can and does
make initiation possible, imitation
can be prevented or held down by
controlling prices.
The price-control program, al
though performing miracle during
the war period, has been hamper
ed by weakening amendments, iH
troduced in the Senate and House,
One of the main reasons why full
benefits have not been accomplish
ed from this program has been 0,
casioned by the cutting Of apprr
priations to OPA in the past, and
a large part of any inefficiency is
attributable to this action Of the
Congress.
Those of us who have lived
through both periods know that i
it had not been for OPA the cost
of living would have increased al
least 100 per cent during Word
War II, judging from what hap
pened to prices in a much sAorte
time in World War I.
The immediate renewal by The
Congress of the price-control and
rent-control legislation which nov
expires on June 30th next, is an
essential prerequisite for the Na'
tions's successful transition to hlgl
level postwar employment, prodlc'
ton, and national income.
1t is my opinion that we are
faced with the imminent threat N
a runaway price and rent intla'
tion, unless these programs aH
continued for at least another yea
and that appropriations are nna's
which are sufficient to assure ths'
the regulations will be complsl
with. In the face of major am
acute shortages in consumer dur
able goods, clothing and housing,
the record breaking demand VII
precipitate initiation unless prlca
are held down, until the supply o.
scarce goods comes into approx
mate balance with postwar a.
mand.
The people of our Country han
not forgotten the post World ""
l initiation which ended in an e~
nomic crash and an acute deprsF
sion and this experience al'"
World War I emphasizes the LIT
mediate and pressing need for "
newing, strengthening and man.
tanning price and rent controN'
a short while after World Wa
the cost of living scared a'
reached peak 108 percent ao".
the prewar level and a repea~yii
of this, which of necessity "o..
be on a larger scale, would mF'-
economic chaos.
Last fall, as we all know, 'oD.
manufacturers and business n'.
held back goods from the man
because they wanted to make p'T
its this year after the rePeS- ~
the excess-profit tax. Unless IN
mediate steps are taken to reS,
the controls, so that many man. ,I...
facturers, builders and other w., w..
ness-men will curb productlon
hold back goods in hopes OF hsm. ~.
prices after the end of prlce''''
troll. II
The renewal, Strengthening ~. ~
extension of price and rent wv Wv
trolls will safeguard reconVeIsss,s. Nv.
The businessman will kno" u ~,
it will pay him to get capa.m ".
operation going as quickly as '..srs n
sible in a sellers market Na ,.rp
he can sell anything and e'''
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