Word: copper
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Dates: during 1950-1959
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Goods: The use of copper and brass in making 300 civilian products was sharply restricted. After March 1, copper may not be used to make, among other things, pots & pans, jewelry, automobile trimmings, furniture, and household electrical equipment. Civilian use of cobalt-valuable as a steel alloy for cutting tools-was cut by two-thirds. Beginning Feb. 1, every purchase of more than 25 lbs. will need Government approval. The cobalt pinch will be felt in radios, television sets, refrigerators and all enamelware household appliances; it is likely to knock out color TV for the duration...
...Froze automobile prices as of Dec. 1, canceling price boosts just announced by Ford, General Motors, Chrysler and Nash (see BUSINESS). The President's Economic Stabilization Agency therewith took the first big step toward selective wage and price controls. Others expected: steel, aluminum and copper. ESA begged the rest of industry and labor to adopt voluntary controls. Such pleading had never worked before, and would not this time, but ESA was simply not prepared to police a nationwide control order...
...control auto prices, Valentine would have had to control prices and wages all down the line-in fact, put the lid on a major segment of the entire U.S. economy. The auto industry consumes 20% of the nation's steel, and huge quantities of rubber, paint, fabrics, copper and almost every other major raw material...
...Warned that it would soon be forced to order a cut in the nonmilitary use of tin by "something less than 30%" and that it might ban copper and cobalt for nonessential products where other metals can be substituted...
...Ordered manufacturers to channel all their copper and brass scrap into "normal trade sources," i.e., not into grey market conversion deals...