Evening star., 1946-03-25
baruch Attacks
NAM Plea 10 End
Price Control
Says OPA Must Be
Extended Soon or
We All Will FuIr
BY the Assoeioted Press

Bernard M. Baruch told the
House Banking Committee today
the National Association of Man.
ufacturers really doesn't know
what it is asking for" in demand
ing an end of price controls.
If OPA is not extended pretty
quick" he said, we're all going to
fall down on our faces"
Mr.. Baruch said that instead of
retrenchments in price control, the
Government should control wages
and adopt other far-reaching ma
chinery to combat the infiationary
threat
He said there must be one over
riding objective-greater production.
Must Keep Steady Hand.
Asked by Representative Mon
roney Democrat, of Oklahoma what
he thought of the MANS proposal
last week that all price controls
be lifted June 30, Mr.. Baruch said:
They don't know what they're
asking for. You just take off these
controls now and see what happens.
AS businessman l would dislike to
see it. I'm no control man. I'm a
free enterprise man. But we've got
to keep steady hand to save free
enterprise"
Foreseeing bright future, he pre-
dicted that when we really get
going we'll make war production
look like nothing" He said he ex-
poets demand for necessities ito be
terrific for five to seven years, and
predicted Federal revenues will be
large enough to begin debt retire.
ment.
Calls for Commerce Court
Mr.. Baruch called for a high
court of commerce" to repair the
infationary damage he said has
been done by raising wages and
prices while cutting taxes.
Cautioning that ''the race Of
selflshness is on" the 75-year-old
Baruch lashed out at the Govern
ment's new wage-price policy pegged
to the recent 1872 -cents-an-h
steel workers pay boost.
This will be followed by increases
all along the line" he told the COM
mittee considering an administra-
ton request to keep OPA alive a
year beyond its present June 30
expiration date. Call it a bulge
but it is really a break-and a
grave one. This was infationary."
Offers 14-Point Plan.
| Mr.. Baruch laid down 14-point
program capped by his emphasis on
the necessity for greater industrial
output. Without increased produc-
tion "the rest of my suggestions are
meaningless" the witness declared
as he listed these other recommen-
dations:
l. Stop increasing the money sup
ply.
2. Stop decreasing taxes until the
budget is balanced. There may
be wisdom in reinstating The s6000,-
100000 tax reduction"
3. stop bunking the public by
saying wage increases can be
granted without increase in price
levels"
4. DO not fear to increase prices
or wages where necessary to get
and stimulate production" No raise
in prices should be permitted with
out OPA approved, Mr. Baruch said,
"and no increase in wage scales
without approval of the Ofhce of
Economic Stabilization
5. Continue price controls, sub
ject to indicated notifications for
year. Allow profit but no profiteer-
! ing.
6. Avoid favoritism to any par
ticular group.
Z. Take care of those between
the millstones-clerks, Government
employees, pensioners, ct al
8. Make Surpluses of goods in
military hands available to compen-
safe for shortages.
| 8. Stimulate small business.
10. Take stock before blindly
/ lending-make inventories of our
goods, our cash, our credit before
we increase the pressure on these.
II. Cut Government costs, in
Guiding Federal, State, county and
city.
II. Eliminate all strikes or lock-
outs for a year. ***
13. Set up high court of COM
(See BARUCH, Page A-3D