Word: grains
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Dates: during 1940-1949
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...what most goes against the grain . . . is the vulgar and contemptuous way your correspondent expresses himself...
...Republican hunt for Government insiders who may have profited by speculation reached into the White House this week. Flushed up on one of Agriculture Secretary Clinton Anderson's lists of grain traders was the name of Brigadier General Wallace Graham, the President's personal physician. He was listed as having market commitments covering 50,000 bushels of wheat during September (when Government purchases were heavy and grain prices were zooming...
...after Harry Truman had denounced speculators as the villains of inflation. But that explanation would probably not be enough for the House and Senate investigating committees, whose guns were primed for just such game. Compared with Harry Truman's friend Ed Pauley, who had 500,000 bushels of grain and a lot of other commodities (TIME, Dec. 22), the White House physician was a relatively small target, but he was probably in for some congressional pot-shooting, nevertheless...
Taft prodded the Senate Banking and Currency Committee into quickly reporting out an almost identical measure. It provided for extension of export and transportation controls, and empowered the Administration to limit the use of grain in distilling. It ignored all of President Truman's requests for such heavy weapons as rationing, wage and price controls, compulsory allocations. Allocations could be made only through "voluntary" agreements with industry. This meant, cried Minority Leader Alben Barkley, that the President would have "to go out huckstering among business" to get agreements...
Mehl wanted the power to regulate commodity margins as the Federal Reserve Board regulates stock margins. He pointed out that since Oct. 7, when the grain exchanges had boosted their margins to 33⅓%, speculation has "declined sharply." Commodity traders, who are dead set against any governmental control of margins, took no comfort from Mehl's report. But New York Stock Exchange President Emil Schram cried that Mehl had performed a "public service" in showing how high stock exchange margins had helped bring on the speculation in commodities. However, Schram thought that the answer was not to raise commodity...