The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1950-08-17

III Tie AlOOSC, INSPs w. ~. OoSS Y
Cd, Tex.) pushed through an
amendment ordering the President
to invoke wage ceilings" when
ever he invokes price ceilings, but
it is so hedged around with quail
flying language that many excep-
tions could be made.
Rep. Jesse Wolott Or, Mich.)
succeeded on 2 roll-call votes in
knocking out all power for the Pre-
sident to control real estate credit,
except on construction started after
noon on August 8, 1850. Rep.
Wright Patman Cd, Tex.) charged
that this was the "real estate lob
by's amendment" Wolcott denied
it. Rep. Mike Monroney Cd, Okla.)
charged this was another move to
make this bill as lop-sided as it
can be made to favor those who
control credit facilities" Both
Democrats warned that, if controls
were put on down payments, for
instance, for new houses, the prices
of old houses would Immediately
shoot up. They recalled the exper-
ience in World War ii, when prices
on new cars were controlled, and
the prices of fused" cars, on which
there were no ceiling, shot way
above the prices for new cars.
Wolcott won, POP to 1873.
Rep. Harold ID. Cooley Cd, NC),
by an even narrower vote, succeed
ed in knocking out section giving
the President specific power to con-
troll speculation on the commodity
exchanges-which determine the
prices for wheat, soybeans, eggs,
cotton, wool, cotton-seed oil, lard,
corn, and other commodities i'm
portant to the cost-of- living. The
vote was 1913 to 1874, with three
members voting "present."
Rep. Frank Buchanan Cd, Pa
said figures on exchange trading
show a sharp rise in speculation by
Outsiders" in the past year, by
people he says see chance to "getI
rich quick" Monroney called COM
speculation the spark
plug of initiation" Rep. Clifford r.
Hope OR, Kan.) insisted that pass
ing the section would give the
President power to destroy the
commodity exchanges. Since no
parallel provision is in the Senate
bill and the farm-bloc vote is even
stronger in the Senate, there's
little chance the President will get
direct power to control the specu-
Iation through this legislation.
Buchanan told reporters later
that he interprets a 1929 vote to
retain in the bill a broad definition
Of "credit" to give the President
powers to control both real estate
credit and commodity speculation.
He maintained that the credit de-
finition was prepared by White
House lawyers, and is intended to
give the President powers to curb
both kinds Of credit knocked out on
the House floor.
Balance Of power in the House
all the way through, was held by
the Republican-southen Demo-
crat coalition, which voted as a
bloc time after time during the
days the bill was on the House,
floor. Early in the House in-fight-
ing, they succeeded in eliminating
the section providing for machinery
to settle labor disputes affecting
defense production. This, however,
is expected to pass in the Senate,
and be inserted in the final bill
during conference between the
two Houses. The bloc also put over
the PEACE amendments which tried
to tie wages directly to prices.
However, on the crucial questions
Of giving overall power to thel
President, the Republicans voted
overwhelmingly for the bills pro-
Opposition to the whole bill in
the Senate is being led by Sen.
Robert A. Taft OR, Ohio), who be-
ieves il goes too far in granting
10 the President powers not made
necessary by the tense internation-
Al situation.