Toledo union journal. [volume] (Toledo, Ohio) 1942-current, 1947-12-05
Washington
Labor Report
BY Bradford V. Carter
IPA CnIunniSt

Congress, of which the Repub-
lican majority is most vocal,
which has been outraged by
the fact that the President tied
up in one package both the
Marshall plan and an anti
initiation program. For publi-
cation they say that he is en-.
gaging in something called
politics, when he Jumps these
together.
When you examine what is
meant by politics in this con-
text, it adds up to this. If the
Republicans vote for the anti.
initiation program, including
price control and rationing,
then they are in effect revers.
ing drastically the stand which
they took in 1916. Then, they
kicked price control out of the
window. If they vote against
the anti-inflation program,
they know full well that the
electoral wrath Of the Ameri-
can people will descend upon
them in November 1948.
Yet it is difficult to make
out how the President could
have done otherwise. 1t is
possible to conceive of the inn
pact of a Marshall plan on the
nations onomy without
thinking also Of a program to
minimize the inflationary po-
tential? That danger was here,
do we need to add, without the
Marshall plan. 1t was so Sc
rious that the country was up
in arms about it.
If there is any criticism, 1t
must be that the President de-
layed much too long in con-
vening the special Congress
sional session and temportized
on his attitudes toward these
crucial issues.
INSEPARABLE
The Marshall plan and the
anti.inflationary program are
as inseparable as the Siamese
twins. This is not to say that
there are no defects in the
anti-inflation program as the
President has presented 1t.
Truman should take a lesson
from Stafford Cripps of Great
Britain on this score. Tell the
people the worst now, Specific
ally, / am referring to the idea
of selective price controls.
In theory, it looks pretty
good. In practice we have
learned from the OPA expert.
ence that our economy is so in
terdependent that the process
of price control is like a row
of dominoes. If you knock one
ovef at the beginning of the
row, in no time at all, all of
the dominoes are down.
II is possible that selective
price control may work. But
the American people should be
forewarned that there is a
good chance that it may not
work; that it may be neces-
sary to include more and more
items as demand Is shifted
from one commodity to an
other.
While we are at it, let us
say that it would be a good
idea IL the President could
hold his official family in or
der on this issue. Mariner
Eccles, Chairman of the Board
Of Governors of the Federal
Reserve System, last week set
forth an extraordinarily well
thought out program on curb
ing bank credit, as way Of
curbing initiation. The idea is
to raise reserve requirements
so that a given amount of re-
serves would create less credit
than before.
John w. Snyder, who has
maae no bowling success at
his job of Secretary of the
Treasury, differed publicly
with Eccles. If we will be for
given the temerity, this is GER
tainly no way of selling a pro-
gram to recalcitrant Congress.
The least that can be expected
is that Presidential appointees
will iron out their differences
on major issues before they
are presented to Congress.