Word: retails
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Dates: during 1940-1949
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This became apparent last week in Manhattan, whither had swarmed retail-clothes buyers from 48 States to see the first collection of fashions wholly controlled by war needs. WPB, fashion's new dictator, had shaken clothes makers with restrictions on materials, dyes, slide fasteners. Pure wools and silk are disappearing fast and rayon supplies are not inexhaustible-manufacturers have had to piece them out with reprocessed fibers, re-used wools, the new cloth made of milk (aralac), mohair, rabbit fur, and with cotton gabardine, corduroy, velveteen featured for winter...
...Leon Henderson, no farm-price control plus no wage control plus insufficient taxes leaves nothing but subsidies to hold the retail price line. Both Canada and Britain have paid subsidies in cases where retail ceilings imposed hardships so extreme that they could not be shoved back on the wholesaler or manufacturer. Canada's payments have been trifling, but in Britain two years of price control have cost more than $1,000,000,000 in subsidies, and Britain regards it as money well spent to avoid a far more costly general increase in prices...
This is important news comparable in its own field to the naval victory at Midway, rhapsodized the New York Herald Tribune: The ceiling on retail prices and rents, which became operative May 18, has demonstrated its initial effectiveness...
Price Boss Henderson marshaled his forces for the first enforcement attack on price ceilings. In several cities, squads of OPAgents made the rounds of retail stores, looking for posted ceiling prices. They found very few. But there was no crackdown. The agents were just dropping in to explain the complex...
These increases took almost $1,000,000,000 more than the total increase in their income. To make up the difference, they 1) went into savings for $200,000,000, 2) did less buying. Retail sales dropped 13% in terms of volume...