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Washington D. C. As Viewed
By Yonr Senator,
A. Willis Robertson
CONTROLS AND BUDGET HEARINGS IN PROGRESS
Current hearings before the Senate Banking and Currency Committee on wage and price controls indicate a wide difference of opinion between consumer groups on the one hand and producers and distributors on the other. The consumers are fearful and want stand-iby controls ready for use if there is a new threat of price inflation. Producers and distributors want to drop alt laws on this subject now and not attempt to pass new ones until another world war has started.
World War II commenced for us when the Japanese struck Pearl Harbor in December 1941 but we had a peacetime draft in 1940 and were shifting to a war basis aU during 1941. out did not become law until January 1942 and was not operative until April 1952 Between the Pearl Harbor attack and the time the control law was passed, consumer prices already had gone up 12 percent.
Similarly, when the Korean War started in June of 1950 it took until January 1951 to put wage and price controls into effect and in that period consumer prices had gone-up 8 per cent Actually, this figure is misleading, however, because wholesale prices had gone up in that seven months 17 percent and raw materials had advanced 46 percent. These advances made upward adjustments in retail prices necessary after controls had been imposed.
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