| Show O- O ECONOMIC HIGHLIGHTS National and ant I International Problems Problems lems inseparable from local wel fare The new anti inflation bill which was passe passed with relatively great speed by Con Congress ress an and put tut into ef effect ef feet by Presidential directive on October 4 f is is one more important link in the long chain of total war warle le legislation Such a bill would be unthinkable except in time of great crises It gives Jives the government almost al almost al al- most limitless economic control over the individuals ala and industries of the nation But lut there was vas little opposition to it it Economists Economist of all schools school have a agreed reed that inflation is the direct internal dan danger er we fa face face and and e-and and that tough tou h laws and tough administration of the laws is absolutely w vital ital The bill as passed docs does not go jO goas goas as far as many economists believe it should It is frankly a com compromise romise rom rom- ise measure The labor bloc and the farm bloc in the House and Senate got ot a good part of what they ther want want- ed cd Farm prices for instance areto are areto areto to be stabilized at the high level obtaining on September 15 All AlI existing ex ex ex- provisions prO are to be observed Wages VaRes also arc to be stab at the high level le of Septem Septem- ber 15 and they are not t be reduced re re re- below the highest point reached between January 1 and September 15 It is further provided provid provid- ed that the War Var Labor Board Doard can raise wages if it finds that necessary necessary sary sarv to corr correct t gross maladjustments ments It is certain that some Jabor la labor la- la bor groups will vill make efforts to gain ain wa wage e increases under this clause of the statute The law places no restrictions on salaries below a year However However How How- ever it forbids increases in salaries above that amount unless approved by the Director of Economic Stab Stab- ilizal or or on-or or unless the salaried worker in question has been advanced advanced advanced ced to a more difficult and responsible responsible responsible sible position It is considered possible possible pos pos- sible that this clause may be used to restrict salaries to a of after taxes The director has the power to order a corporation corporation corporation corpora corpora- tion to eliminate all salary in excess of paid to an individual in making its income tax returns and in computing plus cost-plus government contracts I It is easier to pass a law of this kind than to ri rigorously enforce it it And Ancl so one big unanswered question ques ques- question tion is just what effect the law will wilI have haye on the formidable and growing growing growing grow grow- ing black market in this COlln country try People with money in their pockets and a desire for scarce goods will wilI offer higher than ceiling prices prices- and sellers will be found to bootleg the goods law taw or no law The policing policing I ing job as a result will be a difficult difficult difficult cult one One clause in the bill provides pro provides provides vides that it shall be enforced by any and all departments of the government government gov ov using any and all laws a ws and powers of the United States In short the measure is an all in one and Congress put teeth Jn in fn it Wiil Within n the n nexT fe few months it seems certain that a number of I other unprecedented laws will be passed The most important of the projected measures is the total mobilization mob mobilization mobilization bill The draft is depriving industry and agriculture ag of sorely needed workers Also workers at attracted attracted attracted at- at by the high hig-h wages wag paid by war industry have left the farms in droves droves and and the agricultural labor labor labor la la- la- la bor situation is extremely serious as a result The total mobilization plan envisions making making- it impossible for any man to change chang his job without permission from the Var War Man ManPower Power commission It would prevent industries from competing against each other for workers 1 It t would force millions of people who are now not working or who are employed in non essential undertakings undertakings undertakings undertaking's under under- takings taking's t to get Jet to work in war plants and on farms And it would probably outlaw enlistments in the armed forces According to some experts the army and the time navy have been accepting recruits who would be far more valuable to their country in a civilian capacity It is that universal mobilization mobilization mobilization mob mob- and uni universal versal war service would represent dictatorship of the most absolute kind For that reason reason rea rea- son government officials have been chary of even en discussing it But a great many a authorities are arc rel reluctantly reluctantly c- c coming comin to the conclusion that in time it will l be unavoidable By lly the end of next year according to present prophecies pro about t W- W u- u people will have to be ena engaged engaged en en- a ed in the war effort in talc one wa way or another The Time latest test prediction tion is that v we c will have an In armed force of to men Their needs will wilt be almost insatiable So the argument runs ever every cry pair of hands which can do any work at all alt will ill have haYe to be use used And the only wa way sway to obtain maximum max maw a x- x utilization of our manpower Hr is is through compulsion It t is also distinctly likely that Congress s will soon have to pass another tax bill The last tax tas ta billis bIllis bIll till tillis is the heaviest in our our hi history tor tory but I most economists are arc dubious of its I ability to produce enough oh money 1 The They are arc also convinced convince that thu the sales tax and forced savings arc as inevitable ine as tomorrow morning morning- morning both as money raisers and as aids in ill the campaign against I inflation To sum up Ut our troops are about to see more action on the war front front front- and our civilians will see more action action action ac ac- tion on the home front at the same sallie time The military men think that German German Ger Ger- man raids air-raids on England En will increase increase in increase in- in crease heavily this winter wintel Reason ice and snow will immobilize the opposing in forces in Russia and that will make it possible for Goering to divert his air force to the west At the same time Allied air air- Power is growing fast and ami very cry ambitious plans have been made for blasting the R Reich ich front from the time skies |
