Evening star. [volume] (Washington, D.C.) 1854-1972, 1948-08-06
Senators Reject
Price, PayCurbs
For Initiation Bill
6. 0. P. Measure Due
For Floor Fight Today
Over Truman Points
By Chalmers M. Roberts

The Senate Banking Commit
tee today refused, 6 to 4, to write
price and wage controls into the
ouse-approved Republican anti
imitation bill.
The measure is expected to reach
the Senate floor later today where
Democrats will attempt to inject all
or part of President Humans anti
imitation program. largely discarded
by the Republican majority.
The committee knocked out one of
the three provisions of the House bill
which would have increased gold re-
serve requirements for banks. A Sec
ond provision was altered by increas-
ing the higher reserve figures the
Federal Reserve Board would be au-
thorized to set for banks.
The third provision in the House
bill, re-imposition of the consumer
credit control which ended last No.
vember, was approved but the Sena-
tors extended the time at which the
new authority viii from next March
81, as voted by the House, to next
June 80.
Program Offered by Tobey.
The price-wage control scheme,
modelled partially on the Presidents
program, was offered by Committee
Chairman Tobey. He had only the
support of three Democrats-Sena-
tors Fulbright of Arkansas, Spark
man of Alabama and Taylor of
Idaho.
A move by Senator Capehart, Re-
publican, of Indiana to add a pro-
vision to freeze all prices as of today
was defeated by a tie vote OF 5-to-5.
Voting with Senator Capehart were
the three Democrats and Senator
Buck, Republican, of Delaware. Sem
ator Tobey voted against this pro-
vision.
Technically, the House bill, ap-
proved yesterday by 264 to 81. was
not before the Senate committee
today since the House measure was
tackled on a previously approved
Senate bill. But the committee
acted any way and will offer it's
changes as amendments later today
when the bill reaches the floor.
Capehart, Bricker Support Plan.
The gold reserve move, sponsored
by Chairman Wolcott of the House
Banking Committee, and called a
fraud" by Senator Tobey, was de-
feated, to 2, with Senator Cape
hart and Bricker, Republican, of
Ohio its only supporters.
The move to increase cash and
security reserves held by banks
would authorize the Federal Reserve
Board to increase reserves on de-
mand deposits by another 5 per cent
and on time deposits by 2 per cent.
The House bill provides for increases
of 3 and l per cent, respectively,
while President Truman had asked
for increases of 10 and per cent,
respectively.
Along with the price wage meas
ure, Senator Tobey offered another
of the Presidents provisions to give
him ALLEGATION with priority author
ity on scarce goods. This likewise
lost, to T.
Senator Tobey previously said he
would take the fight to the Senate
floor if he lost in committee Here he
would have the support of Democrats
who are expected to force a vote on
President Truman's entire eight
point, anti-inflation program. al
ready offered in bill introduced
by Senator Barley of Kentucky
the minority leader who is President
| Truman S running mate in Novem-
Der.
But the Republican ma jority is
almost certain to push through a
bill similar if not identical to the
House version.
In his move to add price control
powers to the bill, Senator Tobey
said the House bill will have an
'inflnitesimal" effect on the high
cost of living. This was, in effect
admitted yesterday by its sponsor
Mr.. Wolcott as the bill was pushed
through the House after only 40
minutes debate.
/ Passage came when 81 Democrats
mostly Southerners, joined 213 Re-
publicans to provide the two-thirds
vote of approval necessary under a
suspension of the rules. the parlia-
mentary procedure under which de-
bate was limited and all amend
ments ruled out of order. Three
Republicans Joined 90 Democrats
and the two American Labor Party
members to oppose the measure.
President Humans castigation OF
Congress for failure to fully con-
slider his program had no effect
whatsoever on the Republican bill
House Majority Leader Halleck
said the President is befogging the