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- 6 -
now sweeping across the country. Therefore there is little doubt but that a heavy
tax bill will be S peedily passed. But that will still leave an inflationary surplus
of something like ten billions. Therein lies the argument for controls not the relative-
ly modest controls the President has asked, but something far more rigid. However, the
Administration assures the Country it will try to hold the line with volumtary restraints
first. It can only succeed if the Country cooperates, and the buying sprees of some
housewives have not been encouraging. The bald fact is that something like 20 per cent
of production now going for civilian goods must be shifted to military supplies. The
pressure of high -- if not increasing -- buying power on the remaining 80 per cent is very
great. That is the problem of inflation. And if everybody is to have his share, either
there must be controls - which the Country naturally detests - or voluntary restraint.
Today picketing began of grocery stores by consumer groups urging housewives to buy only
with restraint. Let us hope the worst of the panic buying is over. But my wife's report
of the woman next her in our neighborhood grocery story is not encouraging. When the
grocer refused to sell the customer more than ten pounds of sugar, she retorted with a
toss of her head: "Well, I don't care, I've got 80 pounds out in the car anyway." This
sort of thing is what brings about price controls. Can't we be mature enough to prevent
it?
The House today quickly passed legislation to lift the present limit on
the size of the armed forces, and r equired a year's extra service on expiring enlistments.
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"ocrText": "- 6 -\nnow sweeping across the country. Therefore there is little doubt but that a heavy\ntax bill will be S peedily passed. But that will still leave an inflationary surplus\nof something like ten billions. Therein lies the argument for controls not the relative-\nly modest controls the President has asked, but something far more rigid. However, the\nAdministration assures the Country it will try to hold the line with volumtary restraints\nfirst. It can only succeed if the Country cooperates, and the buying sprees of some\nhousewives have not been encouraging. The bald fact is that something like 20 per cent\nof production now going for civilian goods must be shifted to military supplies. The\npressure of high -- if not increasing -- buying power on the remaining 80 per cent is very\ngreat. That is the problem of inflation. And if everybody is to have his share, either\nthere must be controls - which the Country naturally detests - or voluntary restraint.\nToday picketing began of grocery stores by consumer groups urging housewives to buy only\nwith restraint. Let us hope the worst of the panic buying is over. But my wife's report\nof the woman next her in our neighborhood grocery story is not encouraging. When the\ngrocer refused to sell the customer more than ten pounds of sugar, she retorted with a\ntoss of her head: \"Well, I don't care, I've got 80 pounds out in the car anyway.\" This\nsort of thing is what brings about price controls. Can't we be mature enough to prevent\nit?\nThe House today quickly passed legislation to lift the present limit on\nthe size of the armed forces, and r equired a year's extra service on expiring enlistments."
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