Evening star., 1948-11-23
Nourse toUnify
Truman 'sP|ans
Against Initiation
Will Hold Meetings
With Key Cabinet
And Agency Heads
By Gornett D. Horner

named to coordinate the anti
imitation program President
Truman will present to the new
Congress in January.
This was disclosed by DR.. Nourse.
chairman of the Presidents Council
of Economic Advisers, after he con-
ferred with Mr.. Truman at the
White House today.
He said he woul have periodic
meetings with key cabinet officers
and agency heads concerned with
the economic picture during the next
six weeks to make sure that there
is "two-way communication" between
facts about the Nations economy
being collected by the Council he
heads and the thinking Of the de-
partment heads.
Differing Opinions Cited.
DR.. Nourse was reminded that
there was difference of opinion
among scme administration offcials
over Sorne points Of ihs Presidents
a.ti-!naat!on program presented lc
the last Congress, an6 was asked if
it now was proposed 70 assure unity
in advance.
1--WE can't force agreement" he
said. but I hope we can agree on
a consensus of what Is best for the
country as a whole, subordinating
any special interests"
DR.. Nourse was asked If the Presi-
dent would submit to the new Con-
gress a defipite-inflation program
like the 10-point program to which
the last Republican Congress paid
little heed.
There will be definite program"
DR.. Nourse said, 1T will stand on its
own merits in the light of the pres
ent situation, the Democratic plat
form and the policies of the Presi-
dent"
f.e added that he did not want to
compare it to the 194S of any other
program.
Details Not Decided.
The Presidents policies for con-
trolling imitation will be presented
to Congress generally in his opening
state of -tne-union message and in
his annual economic report and
budget message to follow shortly
thereafter, DR.. Nourse said.
1t is fairly clear that after these
general messages, there will be spe-
cial messages concerning various
specific legislation, he added.
DR.. Nourse said Mr.. Truman had
not determined upon the details OF
any specific anti-inf1ation program
as yet. He said the President is
waiting to see what facts turn up"
and how they are analyzed by the
agencies concerned.
Mr.. Truman has wanted stand
by powers to restore price controls
essary. When reporter wanted to
know whether DR.. Nourse believed
it would be possible to roll back
prices, he replied quickly:
Brother, you are way ahead OF
me on that one"
Silent on Current Pressure.
DR.. Nourse refused to say whether
he considered there was any cur
rent lessening of inflationary pres
sures. He said he did not think
an estimate now, in advance of the
economic report due in January,
would be worth while.
ut is quite true" he told ques-
tioning reporters, that there prob
ably have been significant develop
ments of an anti-inf1ationary ma
ture in the last few days, but one
swallow does not make a summer" J"
He explained that the job of the
Council of Economic Advisers is to
try to piece together all develop
ments, both infiationary and anti
infiationary, and analyze them to
get the whole picture.
The appointment of DR.. Nourse
came as some Government econom-
lists saw signs that imitation at last
has reached its peak-or passed it.
But they were cautious in max
ing predictions based on these in
dications. Somewhat similar signs
appeared in early 1947 and 1948 only
to be swept aside by another up
surge in the business boom.
Consumer Prices Slipping.
Among the latest indications
emerging from Government reports
in the last few days are these:
A two-month decline in the con-
sumer (cost-of -living) price index
until, in October, it was only mod
erately above last January's level.
Also, a dip since August in the
general index of wholesale prices
which are more a guide on future
costs at retan-until in October the
index dropped slightly below the
level Of last January.
Supply of many goods" says the
Federal Reserve Board in its latest
bulletin, "is now in better balance
with demand at current prices than
at any time since before the war"
And demand itself hasn't been
as strong as it was in earlier post
war periods.
People have been spending less of
their after-tax income and putting
more of it into savings. Business
has slowed down its buying, too.
Department store sales have
dropped below last year in dollar
volume for two consecutive weeks,
and retail sales in general haven't
been showing their old month-by-
month climb.
Starts on construction Of new
homes have been declining since
April-suggesting, as the Federal
Reserve Board put it, resistance on
the part of buyers to current high