Evening star., 1947-08-14
Truman Confident Price Probe
BY Clark Will Be Beneficial
President Truman today expressed

TfeSleenG truman To-Day expressed
confidence that the inquiry insti-
tuted by Attorney General Clark
into rising food, clothing and hous-
ing prices would be beneficial, but
he said he expected it's principal
effect would be to fix responsibility
for the upward trend rather than
serve as a check.
The question was raised at news
conference when reporter wanted
to know the Presidents views on
the inquiry.
Mr.. Truman said he was confident
that some results would be obtained.
When another reporter asked if he
felt the benefit would lie more in
putting the finger" on those boost
ing prices than in curbing rises, the
President said he inclined to that
theory.
Another reporter asked If the
President thought violation of the
Sherman Antitrust Act was re-
sponsible for the rising costs. Mr..
Truman answered that question
would have to wait the inquiry.
Asked for a comment on a CIO
proposal for an industry labor con-
ference to do something about
higher prices, the President said he
attempted that approach in No.
vember, 1945, and it was not sue
ceSsful.
Meanwhile, Chairman Wolcott of
the House Banking Committee,
asserted today that "a general price
decline" is in the offing as he ex-
pressed opposition to restoration of
price controls, with the possible
exception of controls no rents.
Mr.. Wolcott is regarded as spokes-
man for many House Republicans
on price and rental matters.
1T would be a grave mistake to
put price controls back on again" :"
Mr.. Wolcott told reporter. That
would slow up production, and we
must have production If we are to
llCk lIllld ClOIl.
He added that he believed inaa-
tion has reached its peak and we
are reaching the saturation point.
A general price decline is coming"
Earlier, Senator OMahoney, DEM
ocrat, of wyoming, told reporters
the investigation into prices ordered
by the Attorney General is a fine
thing" but that "the causes of in
flation are much deeper than a
search for extortionate profits"
He said Congress must choose be-
tween encouraging IAN intelligent
program of stimulating production
and continuing to allow private
rationing' of such products as au-
tomobiles, gasoline and steel.
Would Reduce Foreign Buying.
Mr.. Wolcott suggested that the
United States SLOW down on buy
ing for foreign accounts until the
needs of the home market have
been met. Continued purchases for
foreign use, he claimed are one of
the reasons for prevailing high
prices.
If labor continues its demands
for higher wages, Mr.. Wolcott said,
labor will be the loser in the long
run because production costs and
consumer prices, rise with wages"
He suggested that Mr.. Clark in
quire into "the possibility of COL
fusion in some industries to boost
prices higher than are justified by
increased production costs"
I'VE still hope to lick rent con-
troll by next March, when the pres
ent rent control law expires" Mr.
Wolcott said. But If the housing
problem hasn't been licked by then
it may be necessary to extend con-
trolls, especially in areas where
there are shortages and where hard
ships would result on tenants if
controls were taken off,
Advises Against Increases.
Any extension OF rent curbs, he
tntimated. would include an exist