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...came a price-control billj completely rewritten six times, amended countless times, mauled and slashed in last minute conferences between Congressional leaders and Price Boss Leon Henderson. By the time the miserable compromise dropped into the legislative hopper, its only teeth were false. No one apparently realized the basic fact that inflation is an overall thing, uncontrollable in bits & pieces. The bill authorized the President to establish maximum prices for any commodities on the basis of prevailing prices of July 29, adjustable according to other factors (speculative fluctuations, general cost increases, etc.). All prices thus established are finally reviewable...
Even this wasn't enough. Immediately greedy farm-bloc members began to demand 120% or more of parity as the basic fixing point of up-spiraling farm prices (see chart). This was inflation with a bang...
Copper is available in Japan in amounts barely sufficient for peacetime needs. Last year Japan imported 130,356 tons of refined copper and scrap from the U.S., other large supplies from Latin America (now partly cut off by U.S. pre-emptive buying programs below the border). Other basic materials of which Japan is short include coal (barely enough for peacetime requirements), zinc (50% of peacetime
...direction of University of Chicago President Robert Maynard Hutchins, the America First Committee employed the Samuel E. Gill Co. of New York City to get answers to six questions devised by isolationists. Basic question: "Do you believe that the United States should enter the war as an active belligerent at this time?" Yes, 19.1%, No, 74.7%, undecided, 6.2%. Even the addition of numerous threatening "ifs" failed to bring the pro-war group to 50%: If England is being defeated (34.4%), if U.S. ships are attacked and sunk (45.5%). But if the U.S. were invaded, 93.6% would fight...
Such was the background of Dr. Schairer's conference in Ann Arbor last week. Basic assumption in his group's discussions: at war's end Hitlerism will be defeated and Europe will be chaotic. Not ready to plump for the Danish scheme, the brain trust nevertheless favored a decentralized economic system, held that electrification would make it possible to disperse industry. At week's end, they announced their plan...