Evening star., 1948-07-27

has been revised and strengthened
In the light of changing circum.
stances. The program I now pro.
pose is as follows:
First, I recommend that an exces.
profits tax be re- established ir
order to provide a Treasury surplus
and provide brake on imitation.
Second. I recommend that con.
sumner credit controls be restored ir
order to hold down inflationary
credit.
Third, I recommend that the Fed.
eral Reserve Board be given greater
authority to regulate inhationar,
bank credit.
Fourth, I recommend that author.
ity be granted to regulate specula.
ton on the commodity exchanges
Fifth, I recommend that authority
be granted for ALLEGATION and in
ventory control of scarce commodi-
ties which basically affect essential
industrial production, or the cost
of living.
Stronger Rent Control.
Sixth, I recommend that rent con-
trolls be strengthened. and that ade-
quate appropriations be provided for
enforcement, in order to prevent
further unwarranted rent increases
Seventh, I recommend that
standby authority be granted to
ration those few products in short
supply which vitality affect the
health and welfare Of our people
On the basis of present facts, and
unless further shortages occur, this
authority might not have to be
used at all.
Eighth, I recommend that price
control be authorized for scarce
commodities which basically affect
essential industrial production OF
the cost of living. I have said be-
fore, and I repeat, that many profit
margins have been adequate to alb
sorb wage increases without the
price increases that have followed
Rising wages and rising standards
of living, based on increasing pro-
and a fair distribution OF
income, is the American way. Nom
inf1ationary wage increases can and
should continue to be made by free
collective bargaining. Where the
Government imposes a price ceiling,
wage adjustments which can be
absorbed within the price ceiling
should not be interfered with by the
Government. The Government
should have the authority, however,
to limit wage adjustments which
would force break in a price CELL
ing, except where wage adjustments
are essential to remedy hardship, to
correct inequities, or to prevent an
actual lowering of living standards.
The measures I have recon-
mended make up a balanced pro-
gram to attack high prices. They are
all necessary to check rising prices
and safeguard our economy against
the danger Of depression. If they
are made the first order of business
by the Congress, as they should be,
they can be promptly enacted. Every
week of delay will mean additional
hardship for the American people.
The second reason why I have
called the Congress back is that our
people need legislation now to help
meet the national housing shortage
We desperately need more hous-
ing at lower prices-prices which
families Of moderate income, par
t1cularly veterans families, can af-
ford to pay. We are not getting it.
Rental Housing More Urgent.
Even more urgently, we need more
rental housing-especially low-rent
housing. We are not getting 1t.
Most OF the housing now being
built is for sale, or for rent, at prices
far above the reach of the average
American family.
I have recommended time and
time again that the Congress pass
a comprehensive housing bill which
would help us obtain more housing
at lower prices-both for sale and
for rent.
A good housing bill, Senate Bill
866, known as the Taft-Ellender-
Wagner bill, passed the Senate on
April %. This bill would provide
aid to cities in clearing slums and
in building low-rent housing prof.
ects. 1t would give extensive aid
to the private home building indus
try. 1t includes provisions for farm
housing and for research to bring
down building costs. It contains
many other provisions, all aimed at
getting more housing at lower
prices and at lower rents.
This is the bill we need. We need
1t now. not a year from now.
If this legislation is passed this
summer, it will be possible to start
Immediately the production of more
houses Of the kind our families need.
at prices they can afford to pay. If
it Is not passed now, the 81st Con-
gress will have to start all over
again with new housing bill. In
that case, we might lose full year
in meeting our national housing
need.
This Congress can complete action
on this comprehensive housing bill
in a few days. I strongly urge that
1t do 50.
I have called the Congress back
primarily to deal with high prices
and with the housing shortage. De-
lay on either Of these items would
be most dangerous. In addition,
there are other important legislative
measures on which delay would in
jure us at home or impair our world
relations.
Education Aid recommended.
I, therefore, recommend that the
present session, without allowing
to interfere with its vital
work on legislation concerning high
prices and housing. take action on
certain other important measures.
These measures can speedily be en-
acted now because of the amount of
study already given to them by the
Congress.
First, the Congress should provide
Federal assistance to the States in
meeting the present crisis in educa-
ton. The children in our schools,
and the men and women who teach
there, have been made the victims