Letter from Arthur J. Ferguson, Jr. to President Harry S. Truman

4/10 Dale University 1186 Yale Station New Haven, Conn. April 14, 1952 The Honorable Harry S. Truman The White House Washington, D.C. Dear Mr. President: Your speech on April 8, 1952 announcing the gov- ernment seizure of the steel industry has disturbed me a great deal. Although I am in no way connected with the steel inustry, it seemed that you were presenting a rather slanted picture. For example: 1. Why did you fail to mention the closed shop clause, certainly a vital issue in this dispute, and vital to every American. 2. In your "facts" on the steel industry, you stated that profits per ton of steel were 17 or 18 dollars. Why did you fail to mention that this was before taxes, and that these taxes reduced the figure by 2/3? Taxes are a very real part of expenses, SO hardly can be ignored. 3. You stated that steel industry's profits were 2.5 billion, without elaborating on that fact. What does it mean by itself? Also, why did you fail to mention that it covered forging shops, foundries, etc, not a direct part of the basic steel industry, and not in- volved in the present dispute. The profits of those involved amounted to 1.9 billion (1951) before taxes. After taxes this figure was reduced to 700 million. 4. Why did you fail to mention that the average steel wage is $1.81 per hour? It seems like more than a subsistance wage, and it is certainly in line with the wage of the average American. 5. You stated that the "steel companies are recklessly