The people's voice. [volume] (Helena, Mont.) 1939-1969, 1947-09-19

HlhI Walter Reuther of CLIO Auto Work
has in a letter to the President
demanded the immediate converting of the congress,
and of effective price controls-those things,
you'll recall which tossed out by the "old guard
COP Southern Demo coalition that free enterprise
would unhampered by regulations, be able to begin
producing more than ever before, AT MUCH LOWER
PRICES!"
Something Must Be Done
Not similarly that bastion of all that's right
and holy about Capitalism the American Federation of
Labor executive council, has forth with great
deal of verbiage the threat of initiation Says the
ALL, through Brothers Green, Lewis and Hutchinson:
Initiation is terrible but have return of
price controls In traditional the AFL hierarchy
offers solution except wiring its hands and say
something must be done"
OF more concrete nature of the recommend
atoms being offered by pair of COP senators who
to atone for the wrongdoings of their breth
ern in the last couple of congresses Principal proposal
by this pair would slow down food speculation by putting
end to all margin buying of grains. This sal
uatory effect of causing momentary dip of about lac
per bushel on wheat futures, spectators slowed
down their activities Note This week the government
doubled margin requirements from about II percent
thirty-three and third per cent?
However, the mere shaking of the grain market, or
wisecracks that "peopIe should eat less will have
negligible effect curbing headIong dash toward
disaster. 1t would be impossible to reconsttute OPA
and return to price control levels of June, 1896 This
does not mean that price control levels cannot be
reimposed, and at levels that will nearly balance
consumer income with outgo
At this late date, it is not too pertinent that many
skeptics Is months insisted that what is hap
pening to prices would happen should
only to point up of the results of the premature
death of price controls.
More pertinent are some of the finding of BUSI
NESS WEEK, magazine devoted to big business in
its August 2 issue:
Profits Topped All Others in History
Says Business Week, in speaking of profits: "But
they still topped anything record Taken together
the first and second quarters add to breathaking
halfyear. From earning standpoint, this sixmonth
period is by all odds the biggest. 1.-THE depart
ment of Commerce estimates tentatively that in the
first half of 1947 u S. corporations cleared S.
7OO,OO0,OO0 after taxes. This sh-month period alone
tops the earnings of any full year before 1e41 :.
if the second half is equally good, earnings
will be nearly so cent above last years
S12, 539, 900, O0O."
Getting down to particulars on what the past year
Of a free market has accomplished in way of cor
poraton profits, Business Week then quotes from the
nidyear report of General Eecrics president Charles
g. Wilson: GEES sales for the first six months of
L947 were $537757070 which approximately 30
t is estimated that these sales will provide net in
come of more than $32 u million"
u S. Steel also found operations not "hampered"
~ price control very lucrative according to BW u
Steel than doubled it's earnings in second quar-
er 1947 compared with period 1916. Second
quarter 1947 earnings $2933686S and $13,9OO27O
year ago. Total first half 1947 earnings showed an
ven greater increase first 1947 which were
68,571,379 and $24,138,541, respectively.
In the case of that much pubcized scion of free
enterprise-Genera Motors, the 1947 net profits were
even breathtaking. First half 1947 net earn
ings $01 100000 to $16321 900 for first 1916
just jump of five fold, no doubt accountable
in large part to those huge automobile price in
creases put into effect by GIN at various times the
last nine months
Next thing that seems pertinent is: whats ahead
nd what, if anything do about it at this late
ate?"
There's no doubt in this columnists mind that
Mould continue present course we're in for
lie most devastating depression in history The
orst effects of which only be avoided by the i'm
of the international becomes
atory for the voters in country The need for