| OCR Text |
Show ysdWM ashmgtsn jjj'jJ) ; I,..--ja. "' " 5than increases in costs actually incurred?" "From here on out, should not all businesses with generous earnings earn-ings and good financial position be prepared to hold their prices and accept some compression of earnings, earn-ings, if costs should rise, in the interest of general stabilization?" "Should not wage earners accept for the time, something less than they might gain by drastic means, and understand why this restraint is patriotic?" 'Should they not be ready to go all-out for increased production of goods essential to national security?" sec-urity?" "Should not American women, wo-men, who determine most purchase pur-chase of consumer goods, manage their households and their budgets with greater restraint re-straint and less desire to keep up with the Joneses? And should not the Joneses be willing will-ing to keep down with the rest of us?" "Finally, must not higher taxes be put at the top of our list of anti-inflation measures? Have we got the intelligence and the nerve Democratic Leaders here who were depressed following the election elec-tion returns, are somewhat comforted com-forted as a result of the presidential presiden-tial statement that the records show that the party in power lost less in this election than in any election since 1916, except 1934, when the Democrats increased their position in an off-year election. elec-tion. So actually, if the Republicans Repub-licans are inclined to crow over this election, just remember remem-ber that they have crowed in every off-year election since that time and have not won a presidential election in 18 years. All of which points up to one factor, according to observers here: are the American people so complacent they cannot understand, under-stand, or perhaps better, do not realize how they must tighten their belts in order to smash the two-headed menace of inflation and Communism? Was the fact that American boys and American money and a heavy casualty list, in the Korean war were factors in this election? In many sections this may have been true, but the fact remains that the Korean war has had such a modarte impact on the nation's economy, that no true picture can be drawn, except the attitude of the Mr. Aveage American which includes Mr. Businessman, Mr. Farmer, Mr. Laborer and Mrs. Average Housewife. Alan Valentine, administrator administra-tor of the economy stabilization stabiliza-tion agency, the government bureau which will control prices and wages in an all-out inflation battle, has pointed up the control picture by the following questions: 'Will business men be willing to stop basing their prices on what the market will bear and limit themselves to reasonable profit margins?" "Should not business firms that have increased prices since the Korean outbreak now re-examine and reduce prices wherever possible,, poss-ible,, and especially in cases in which price increases reflect more to tax ourselves as we need to, for our own good?" And as the price and wage controls con-trols boss asked these questions, business generally gathered in Washington to defeat an excess profits tax on the general theory that, "what's good for business is good for the country." On the other hand, those administration forces seeking the excess profits tax are proceeding on the theory that "what's good for the country is good for business." However, there is little doubt but that the lame-duck session of the congress will fail at passage of the excess profits tax. The house will pass it, but the senate will balk. So it will go over into the ultra-conservative 82nd congress where there is little hope that such a tax will get through. So an increased individual income tax will be matched likely with something like an increased corporation tax, as advocated by the committee for economic development de-velopment and other business agencies. :X , . - -1 x far ON SECOND BIRTHDAY . . . Here's a new picture of little Bonnie Prince Charles in his carriage with eyes attracted to his mother, watching him from balcony of Buckingham Palace. |
