The Daily Alaska empire., 1949-07-11

man. It found the business out look reassuring. But agreed that federal action is called for.
 We may have the unique and fortunate experience of liquidating a major imitation without falling into severe recession" the three member council reported.
 In a sentence certain to win the acclaim of business, Mir. Truman took his stand against any major increase in taxes.
 Only Two Tax Increases
 Only estate and gift tax rates should be raised he said. He added that the transportation tax on goods should be wiped out and the 'carry-over" losses in corporation taxes should be liberalized.
 The expected results. (A) better profit prospects for industry; tB) small net loss in federal revenue. in place of the humping boost in corporation rates and income taxes which the President asked in his January economic message and for which he spoke again only month ago.
 Legislators Hailed
 The President Hailed at legislators who insist on government economy to the point of cutting essential national programs" like defense and foreign aid. Nothing could repre- sent greater economic folly" ne said.
 MT. Truman urged businessmen to lower prices where possible. to keep sales and production high. But don't cut wages in order to reduce prices, he advised; that cripplcs the workers buying power and everyone gets hurt.
 Requests To Congress
 These were his requests to Con- gress-they aren of vital import ance," he said:
 l. Shun any major tax boost. Re- peal the transportation tax, except on passengers, liberalize the carry over of losses by corporations. Raise estate and gift levies.
 3. Lengthen the time limit for repayment of loans made to busi- ness by the Reconstruction Finance Corporation.
 3. Launch a study of the in- vestment and development needed for an expansion of economy.
 4. Adopt "an improved program" of farm income supports. Congress is badly split on the farm program: House Democrats will discuss a stand tomorrow.)
 Raise Minimum Wage
 5. Raise the minimum wage from 40 cents an hour to at least 75. Broaden it's coverage. (Such legis- lation is still in committee on Cap-
  itol Hill.)
 6. Bring more industries under Unemployment Compensation. In- crease the benefits. Lengthen the period of idleness covered.
 T. Extend for one year-to July 25, 1950--the veterans readjustment allowances, or so-called "52-20" pro- gram. This program got its nick name frofh the provision for unem- ployment pay to veterans at the rate of $20 week for a maximum of 52 weeks
 Social Security Benefits
 8. Raise social security benefits. Extend coyerage to more persons. Increase direct public grants. GA social security bill may come from the House Ways and Means com mittee in about week.
 9. Let federal agencies speed the advance planning of federal works and acquire sites. Help states and localities to do the same.
 TO- Provide technical aid to de- velop the worlds backward areas and encourage foreign investment.
 Reciprocal Trade Facts
 H.. Restore the reciprocal trade agreements act, to bolster up world commerce. tThe House has passed such bill; Senate fight awaits.l
 In general, the message was cal- culated to reassure business. Mo- where was there mention of an ar- ray of anti-inflation powers which MT. Truman demanded in his Jan- uary report--demands which Con- gress has largely ignored.
 Now dead for certain, they in- cluded standby price and wage con- trol authority; allocation of scarce materials; extension of bank credit controls and installment-plan buy ing curbs; regulation of grain and other commodity exchanges to curb imitation. Neither was. there men, ton of the government building in- dustrial plants when private capital