Salt Lake Telegram | 1942-05-06 | Page 1 | Federal Reserve Board Clamps Stiff Rules on Credit Buying

t Federal Reserve Board oar Clamps Stiff i Rules on Credit re it Buying By ny IRVING ETER WASHINGTON May 6 UP The Thc The government Wednesday put a set of teeth in President Roosevelt's advice that people e e ought to pay their bills and keep out of debt With only a few hours hours' notice the Federal Reserve board put into effect Tuesday midnight rules governing governing governing gov gov- the credit purchase of nearly nearly nearly near near- ly every household item except food drugs and cosmetics Intended specifically to give force to the suggestion made by the president last week about getting getting getting get get- ting out of debt the rules were designed to keep people from using U their credit to bid up that enter into the cost oj at living and also to put more money into circulation circulation circulation cir cir- cir cir- for war bonds They provide specially how and when credit customers credit customers should pay for everything from kitchen pans to clothing clothing 46 46 items in all all all- Continued on Page Four Column One 1