Cabinet Meeting Minutes

CABINET MEETING, MAY 28, 1951 Wilson - absent Weinberg for Wilson NATIONAL ARCHIVER AND COL - C RECORDS SERVICE Briefed Cabinet on Korea. THE PRESIDENT Asked V. P. to state situation in Senate. V. P. Senate has been recessed since last Friday. The Central Arizona bill for irrigation will be discussed this week. THE PRESIDENT Handed Big 4 at meeting this morning a memorandum on importance of passage of amendments to National Production Act. Quoted president of Standard Oil of California who reported in U. S. News that Chinese have been a disappointment to Communists in Middle East and Asia. It proves wisdom of our course in Korea. SNYDER We have heard SO much about effects of deficit financing that facts should be told. In past five years we have had 7 billion surplus. Fed Res has 1 billion less in govt bonds than it had 4 years ago. These operations are definitely anti-inflationary despite anti-administration propaganda which is being fed public. BRANNAN The leadership in Senate and House committees do not reflect the views of the cattle growers in the West. This came as complete surprise to eastern reporters who covered Democratic meeting last week in Denver. However there is going to be continued pressure against controls by Big 4 of industry packers.