Evening star., 1948-07-27
Congress Is Asked
For InstuIIment
Credit Controls
(TeIt of Presidents Message on
Page A-6.)
By Joseph A. Fox

President Truman today called
for immediate but limited price
controls and for standby wage
controls as he urged the special
session of Congress ito take
strong, positive action" to check
imitation and avert another
great depression"
He also called for restoration of
the excess profits tax and install
ment buying controls among eight
stops he advocated to help manage
the imitation spiral.
Mr.. Truman asked for standby
authority to ration those few prod
ucts in short supply" which affect
the national welfare. But, he add
ed, "on the basis of present facts,
and unless further shortages occur,
this authority might not have to be
used at all"
The Presidents moderately toned
speech did not specifically mention
meat or any other commodity which
might be subject to price control.
Details of his program are expected
to be answered by an administra-
tion bill which the White House said
probably will go to the Capitol
tomorrow.
Reception by G. o. p. Cold.
Mr.. Trumans personal appear
ance before a joint session of the
Senate and House was coldly re-
ceived on the Republican side. The
applause he received, perfunctory
for the most part, came from Demo-
Gratis of the North and West.
Southern Democrats were almost as
glumly silent as the Republicans.
When Mr.. Truman entered the
House chamber. there was round
of applause, in which the Repub-
licans joined, though halfheartedly.
Speaker Martin, without any pre-
liminaries, said:
The chair presents the President
OF the United States"
Observers said this probably was
the shortest introduction of the
President to joint session on
record.
Likely to Get Little of Program.
Even before Mr.. Truman spoke,
Republican congressional leaders
made it clear that he can expect
action on no more than one or two
minor points in his imitation control
program.
On price controls, the President
asked that they ''be authorized for
scarce commodities, which basicallyI
affect essential industrial produc-
ton or the cost of living" AS a
complementary proposition, he said
the Government should have au-I
thority Ito limit wage adjustments
which would force break in a price
ceiling, except where wage adjust
ments are essential to remedy hard
ship to correct inequities or to pre-
vent actual lowering of living stand
ards"
The President appeared before a,
joint meeting of Senate and House,
called in special session because, he
said, I'VE cannot afford to wait for
the next Congress to act"
High prices are not taking time
off for the election" he declared, in
spelling out the anti-inf1ation pro-
gram which, except for the excess
profits provision, is substantially the
same ne advocated when Congress-
was called back in special session.
last November.
Sees Tax as Brake on Imitation.
He tersely told Congress, however,
that if that program mad been
enacted I'VE would have lower
prices today" Instead, the cost of
living is now higher than ever be-
fore in our history"
Then he added:
We cannot risk the danger, or
suffer the hardship of another eight
months of doing nothing about high
prices"
In proposing to restore the excess
profits tax, which he lifted shortly
after the end of the war, Mr.. Tru-
man said the step was necessary Ito
provide brake on imitation"
Significantly, in~>this connection.