Word: rfc
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...purposes have been in large measure accomplished-but only in the face of an exasperating rear-guard action by RFC officials who are still fighting the war with peacetime red tape, corporate technicalities, and . . . unnecessary caution. . . . All this, and I want to emphasize it, is bureaucracy at its worst; it is utterly inexcusable in a nation...
...RFC believes that a maximum of production and procurement can be obtained in a minimum of time and at a minimum of expense without resorting to methods bordering on the hysterical...
Last month RFC lent $1,300,000 to Metals Reserve Corp. to drill the rest of a tunnel to connect up the Barstow mine (once owned by Harry Payne Whitney), the Black Bear (once Rockefeller's) and adjacent mines. All these properties are now owned by Idarado Corp. and have been leased to Metals Reserve on a royalty basis. In addition to lead and copper, the Government especially hopes to get 5,600 tons of zinc the first year. Long John's tunneling tempo was needed again...
...plant after peace comes? Private industry now operates almost all of it. Thus far the Government and industry have put on an Alphonse & Gaston act: in speech after speech Jesse Jones has begged businessmen to tell him what they would like to have him do with the plants his RFC owns; just as emphatically, private industry has asked for a statement of Government policy -any policy-so that its postwar planning can begin to make sense. Jesse Jones does not want to tell business he will sell the U.S. taxpayer's expensive plants for 10-20? on the dollar...
...With a hard squeeze on, subsidies are the only way a lot of price ceilings-let alone price rollbacks-can be made to stick OPA has some $400 million of RFC funds to draw on. But Congress, led by the farm bloc, is so dead set against subsidies that it has talked of specific legislation against them. And statisticians calculated that $400 million could roll back the price level only 1%. Yet Prentiss Brown proposed to whack 6% off the cost of living. Meanwhile, with the first roll backs scheduled for this week, no one had any specific plans...