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Show A The Salt Lake Tribune, Friday, Ot tuber Abe Marlin 8, 19T1 Nixon Outlines Nixon Price Controls Have Chance, But Can 2 Boards Find Answers? By Hobart Row en Washington Port Writer - WASHINGTON President Nixon has created a price and wage control structure that has a good chance of woiking, but has left the really tough the and critical decisions setting of specific guidelines to 22 private citizens who will compose a new pay board and a price commission. te pay The board and the public price commission will have to work out the numerical yrd-stick- s against which pay and price increases can be measured. To guide the pay board and tri-par- ti n commission the price the President sot out an overall goal for his program: Consumer confidence that infla- - news ANALYSIS non is being licked, measured by a reduction in the pi ice indexes so that they are rising by no mote than 2 to 3 percent at the end of 1972. This is a realistic and feasible goal, former economic council chairman Arthur Okun said Thursday night. It was reported on good authority that some Nixon advisers New Economic Package Gels Favorable Reaction Washington Post Service Reaction WASHINGTON tq President Nixons new economic package was generally favorable Thursday night with the strongest commendations coming from business leaders. On Capitol Hill, both Republicans and Democrats, with some exceptions, praised the . proposals and promised early consideration of the Presidents legislative requests. Organized labor appeared confused by the Phase II announcement. in the evening Early AFL-CIPresident George Meany had been quoted in broadcasts as saying, We can live with it. ; O Early Reaction But a federation source later described this as an early reaction before AFL-CIofficials read published reports suggesting that the cost of living council headed by Treasury Secretary John B. Connally Jr. and composed entirely of government officials has veto power over the tripartite pay board. The board would be composed of five members each from Jabor, management and the public. . This is precisely the tv pe of board Meany has proposed. But he has also insisted that the board be autonomous and free of government influence. Late Thursday night, the AFL-CIsaid it was withholding comment on the Presi- dents plan. Generally Approved Chairman Russell B. Long of the senate finance (D-La- .) committee who will confer with the President and Connally Friday, said he generally approved of what the President had to saj But Long said he wanted a of interest rates. roll-bac- I've already made it clear that the tax package could be broadened to benefit more and Ill suggest people, amendments to do that in the the Senator said. committee, Sen. McGovern George the only announced Democratic presidential cana didate, called Phase II smokescreen for the old game plan. He said it will not create one additional job. 524-454- Executive Editor, 1 Scores, Promotion. Womens, 524-457- Sports, 524-45Magazine, 524-452- 1 Completed -WASHINGTON (UPI) Two sleepy physicists completed Thursday the first of two flights in to test Einan experimerround-the-wor- steins theory that speed alters time. The variations are so slight under earthly conditions that , ifcl they could not be detected outside the nuclear physics laboratory until extremely precise atomic clocks and jet aircraft were developed. On Monday, tne two scientists, accompanied by four portable atomic timepieces, set off on an eastward flight to check on Einstein's clock paradox. To complete the experiment they will fly westward around the world on a trip starting next weel . Newspaper Delivery ProLlems, Advertising Departments Adv. Dispatch, 524-28- 8 ('laified Ads, General Display, Retail Dipla, 1 indiea- - ' New York Times Service - WASHINGTON Wage earners whose pay increases were blocked or businessmen whose price increases were freeze on wages negated by the y and prices will not be able to recoup the lost income, the White House said Thursday. Nixon administration officials who outlined provisions of the second phrase proof President Nixons gram said that they regarded the freeze from Aug. 15 through Nov. 13 as absolute, with no provision for retroactive benefits covering that period. Thp officials said that the new con n trols. which will replace the freeze, would allow implementation of collective that called for bargaining agreements retroactive benefits for periods prior to the freeze, however. for example, a wage contract entered into during the freeze might call for pay increases retroactive to last April 1. Under the White House interpretation of the freeze, employes covered by such a contract could receive retroactive benefits covering the weeks between April 1 and Aug. 13, but would have to forgo any contract during gains called for by the the 90 days of the freeze. (Copyright) ' Anniversary Values round-the-worl- d interest MATTRESS SALE FULL or TWIN SIZE Total Automatic Color Introducing . . . three new BIG-SCRE- EN COLOR TV CONSOLES 59.90 20.00 39.90 Reg. Price Quilt Top SAVE 33 YOU PAY ONLY Foundation to match all with TAC TOTAL AUTOMATIC COLOR Automatically keeps pictures sharp and flesh tones natural. No more jumping up to adjust controls no more green or purple faces not when you switch channels, not when the scene changes. Enjoy 23" diagonal measure pictures with the wonderful convenience of Magnavox Total Automatic Color . . . and kick the tuning B habit. Your choice of : A. Earl American, Model 7324; 3. Contemporary Mode! 7322; C. Mediterranean styling. Model 7326. 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But, v. hatever vou buy now, from resert stock, is sate from price increases And remember, there is no interest or earn ing charge on your selection while it is m Lavaw av. pnr A Ri rairai jI jivmzRS M 0 SnP (r My, how youVe changed Man's expansion band I ady's Upered band, faveted crystal. 129 S. Mam Cottonwood, 4841 Highland Valley Farr Mat) Granger Lavaway now for Christmas. Or, charge iL FrftSmilaBuHonwhnvouoprtiZAi Custom Charge or Zam Revolving Charge. v 7 r ttt rsir Mattarchsrfi. 3ak latnears at Walk latter Downtown, Bountiful, Dr. .o- - a a case, crown and crystal an intact - Freeze Forget Retro Pay During Vi f-- coop- Terms Arranged ar BenkAmerlcerd -- Wall er Bankard 1 524-284- 0 (Weekdays before 10 a. m., Sundays before 1 524-456- on oluntary was rely mg primarily on. wpnt He pration ou tonight to look I can upon all of or Reat this program not as Democrats or businessmen, workers publicans, but as Amerifarmers or consumers, this profound cans Let us recognize for all of us is best best is What truth: for each one of us. are and price standards will be to businesses applied most rigorously not yet and labor unions which, although described as being of were specified, control of critical importance for the inflation. nDcslI 1 1 524-458- 524-270- Half way 524-450- 0 Editorial K riters, 0 Test o Time 8 524-450- 5 Whether this imports. 524-452- News, mid-197- 1 gram. Weve had ihe most warm "disappointed the President did not announce removal of the 10 percent surcharge on you need information, want sports scores, have a news story or feature you want to talk about? Is your paper missing? Do you want to discuss a classified or display advertisement? ' HERES WHERE TO CALL Information, mid-197- 0 Tou can bluff any woman by telling her to do as she pleases. McGovern urged an excess profits tax and said he was Do . had wanted to set a tougher goal, but were voted down. But the way that most observers saw it Thursday night, average wage increases could not exceed 5.5 to 6.0 percent (including fringe benefits) if the Nixon goal on inflation is to be met. That would compare with an average hourly wage increase in the private economy from to of 8.0 percent (including fiinges). can be achieved vill depend on how tough the pay board and the price commission will be. Some observers saw a danger in the existence of two separate bodies, each described as by a high White House spokesman. Their activities, however, are intended to be synchronized by the Cost of Living Council (COLC) headed by Treasury Secretary John B. Connally. The COLC will not act as an appeals board in individual cases; but officials made clear that if the board and the commission were operating so that the Presidents goal is not being achieved, well have to get them changed. were encourEconomists aged by the government's plan for special attention to medical costs, and state and local problems. Theie are inflation pressures in these areas not subject to the usual mechacontrol wage-pric- e nisms. The attention given to and dividends, through a committee chaired by Federal Reserve head Arthur F. Burns w'as also considered to be a good technique by many observers. goal of holding inflation down to 2 or 3 percent a ye? , The only exception to price curbs will be raw agricultural products, which were excluded from the current freeze. The existing Cost of Living Council, headed by Secretary of Treasury John B. Connally, will have authority to veto or revise standards recommended by the board and the Price Commission. It will have no power to intervene, such as however, in individual cases re lew of a specific wage or price boost that will come before the commission or the board. Violators of the stabilization program would be liable to a maximum fine of S5.000 for each infraction, the same as under the present freeze. In addition, the could seek federal court government injunctions against specific wage or price hikes which could bring additional penalties if not obeyed. Nixon termed the wage-pric- e freeze of and Aug. 15 remarkably successful said the credit belonged to the people. We began this battle against inflation for the purpose of winning it, he said. We are going to stay in it until we do win it. The Presidents speech left unsettled the crucial question of whether previously contracted wage increases will be permitted to take full effect when Phase 2 begins. These were pay boosts previously in some cases, the second-yea- r negotiated or third-yea- r stepups of major barwhich were to gaining settlements said. nons of support, be Pat we will Nixon while declaring the let anv selfish interest escape L,r enfoi cement of tr aw." said he. have taken effect after Aug. 15 but w ere has blocked by the freeze. The AFL-CInot'Led its unions they are free to strike if such ncreases are disallow ed. A White House official said the decision will be up to the new tripartite Pay Board to deal w ith such cases. However, it was made clear that the rides will not permit retroactive payment that is, if a of postponed pay boosts due was increase Sept. 1 but depay ferred until the freeze enaed, the worker will not get a retroactive payment of the withneld increase. A White House official was asked whether he anticipates cooperation from labor and management with the new pro- Profits Tax Tribune Telephone Numbers : continued Trom Page One Control Machinery Wane-Pric- e Magnavox ti (z 0 MtU Home Entertainment ) Center 2233 South 7th East ,ri ope surr |
