Word: hendersons
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Dates: during 1940-1949
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...President's economic advisers have been warning him that full-blown inflation is on the way. The warning had been sounded many times, and at last the President was ready to hear it. Paunchy Price Boss Leon Henderson estimated that living costs, up 15% since World War II began, will rise at least 23% more this year unless drastic steps are taken...
Four months ago Canada adopted the over-all ceiling plan-devised by Elder Statesman Bernard M. Baruch out of his World War I experience-after piecemeal stopgaps had failed. Now the U.S. was in the same fix. Price Boss Leon Henderson, who had tried to control prices by tackling them one at a time, was like a man with a rotted garden hose; as soon as he repaired one leak, a new one popped...
Determined to avoid retail ceilings because of enforcement problems, Henderson had to proclaim the first one when Pearl Harbor started a buyer's panic for flashlights. Since then curtailment of civilian goods has forced more & more ceilings: on autos, tires, refrigerators, radios, 44 household electrical appliances banned by the War Production Board last week...
...Henderson, who has long been frightened of a universal ceiling, is not quite so worried. On a trip to Canada last October, he found that a nation's price-sensitive housewives make as good a staff of investigators as a price boss could...
...whenever it comes, the final necessities of price control will have to be dealt with. Chief among these necessities: 1) complete licensing and rationing; 2) rigid Government mopping up of a large part of consumer income via taxes and compulsory (if necessary) bond sales. For the long run, Leon Henderson has the price-control headache, but Henry Morgenthau has the aspirin...