Evening star., 1951-08-01
Controls
Continued From First Page. J


Continued From First Page.)
sentative Halleck of Indiana said:
Its a bill which, properly ap-
piled and administered, will ef-
feet control despite Mr.. Truman's
statements"
OPS Orders ROlIbaeks.
AS the bill was in it's final
stages in Congress, one of the
Presidents party leaders, House
Speaker Rayburn. had expressed
the view that it was good, work
able legislation, and another
Senate Majority Leader McFar-
land, adopted a like attitude.
AS the legislation went on the
books for another year, Michael v
DiSalle'S Office of Price Stabil-
ization hastily explored avenues
for lifting price ceilings to the
levels now required.
Mr.. Disable ordered thousands
of price rollbacks-and a num-
ber of roll-forwards-into effect
in the final hours before Mr.. Tru-
man signed the new measure.
New ceilings, held back for q
month during the congressional
debate, were applied to consumer
items like radios, television sets
refrigerator and other home ap-
plianceS, shoes. apparel. cotton
textiles, wool yarns and fabrics
machinery, chemicals and many
building materials.
BY rushing the orders out last
night, OPS avoided the immediate
necessity of rewriting the ceilings
to conform to the new act, which
entities each manufacturer tc
pass on to buyers his full business
cost increases up to July 26.
Budget Impact Uncertain"
Individual price adjustments
must now be made. A month ago
OPS said the orders would bring
consumers more rollbacks than
increases. Today it said the i'm
pact on family budgets is "un-
certain"
At the same time, the Wage
IStabilization Board extended in
definitely its allowance of cost
Iof-living wage increases which
are tied to the Governments s
price index.
President Truman, predicting
the new law will mean bigger
prices for manufacturers, whole
salers and retailers. said it will
he necessary also to "allow rea-
sonable adjustments in wages"
I'VE cannot ask the working
people Of this country to reduce
their standards of living just to
pay for the higher prices this act
provides for business" he said.
Consumer Credit EaSed.
There were other developments
also as the new law came into
effect:
The Federal Reserve Board is
sued new consumer credit rules
easing down payment require
mentS and the payoff time on such
things as automobiles and house.
hold appliances. The action was
required by the new act. On
automobiles both new and used,
for instance. the down payment
still must be at least one-third,
but the buyer can have Is months
to pay off the balance. On radios,
televiSion sets and major appli-
ances the down payment drops
from Is per cent to Is and the
payoff time goes from Is to 1S
OPS got in line with the new
law by formally abolishing the
livestock slaughter quotas it has
had in effect under the old law.
At the same time it officially can
celed the additional 41a per cent
live cattle rollback planned today.
Another cut Of the same amount
was planned for this fall. Con-
gress forbade them both but did
allow the present 10 per cent roll
back. OPS retained it's require
ment that slaughterers register in
order to do business, a measure
aimed to stop fly-by-night op-
orators.
The price agency added a new
wrinkle to meat price control by
banning imports of beef from
Canada or other foreign sources
at prices higher than the domestic
level 1t said such imports were