The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1947-08-21
Prices Jump p
1877 In Yeur;
ProbePushed
New Postwar Peak For
4th Consecutive Week

I'LL CONSECUTIVE w CCA
Washington (LPA)-Two men,
bers of Congress summed up price
developments in the nation last
week very clearly. They had before
them government reports that the
cost of living was the highest on
record on June Is, 1870 above the
year before; more recent whole
sale price compilations, for the
week ended August 9, shower a
new postwar peak for the fourth
successive week; the Agriculture
Dept predicted that food prices
would stay high.
Attorney General Tom Clark an
nounced immediate launching of "a
program aimed at conspiracies to
maintain or increase present prices
in the food, clothing and housing
fields. Such conspiracies would be
prosecuted criminally" by the Anti
Trust Division.
Repeating, like a monograph
whose needle was stuck, almost
word for word his assurance last
year, Rep. Jesse Wolcott (R.,
Mich.) issued statement that at
would be a grave mistake to put
price controls back on. :. A general
price decline is coming"
On the other hand, Sen. Joseph
C. O'Mahoney 3D., Wyo.) who is
ranking minority member on the
Joint Committee on the Economic
Report, put the burden of the pro-
blem up to Congress. He praised
the Justice Dept investigation, but
warned that "the causes of infa-
ton are much deeper than a search
for extortionate profits"
perhaps it ought to be pointed
out" O'Mahoney said, "that evid-
ence before the joint committee
shows that the auto industry, by
private understanding, is rationing
the output of automobiles. The
steel industry is rationing the out
put of steel. In each instance pro-
ducts are distributed according to
the ratio of distribution before the
war"
Congress-" O'Mahoney insists,
twill have to decide whether the
should wash it's hands
of the dilemma, and allow big bus->
mess to decide how the products of
this country shall be distributed, or
whether we should undertake an
program of stimulating
so that business users
and individual consumers will not
be subject to rationing either by
or business"
Clark explained that the Anti
Trust Division would concentrate
on the high prices problem, that
President Truman last January
pointed out to the Congress that,
despite half century of antitrust |
law enforcement, one of the grav-
est threats to our welfare lay in
The increasing concentration of |
power in the hands of small num-
per of giant organizations which |
,an restrict production in the in
,erest of higher profits and thus
reduce employment and purchasing
power"
The all-time high in the Labor
Dept cost-of-living figures for
June Is, just made public, showed
consumers prices in mid-June were
1872 above year ago, and $3.50 |
above the level of August, 1889,
he month before war broke out in
europe.
Most startling price increases
Turing the month were in food
prices, which rose 1870, mostly |
accounted for by the rises in meat
prices. Prices for veal and beef
we're up 1919 in the 80 day period;
amb went up 89o, and pork so.
On the wholesale market, in the
week ended Aug. 9, here are some
If the price boosts: corn 5%S; all
grains 3.8%; lemons 500; oranges
4%; dairy products AZ; butter
'.7%o; plumbing and heating mater
ais 1870; hides and skins 5%;
anthracite coal 3.796.
Department store sales, for the
week ended August 9, went down
20 from the previous weeks dol
ar volume, despite predictions that
lad been made by retail sales ex-
erts that sales would pick up.
chedules.
If a new contract is ratified be-
ore Aug. % the lila will be able
. L 4 r