Word: hendersons
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Dates: during 1940-1949
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...news seemed too good to be true. It was. Leon Henderson quickly ran up a warning signal, said: "No one may bring new tires or tubes into the United States . . . except under express authority...
Since Leon Henderson clamped down on sales of new cars in the U.S. two months ago, some 650,000 1942 models have piled up. That number would scarcely be enough to supply the demand in California and New York-if Californians and New Yorkers could have them. But they would be enough to give almost every automobile owner in Latin America a new car. They could take care of the entire U.S. export market (as of 1940) for three and a half years...
Last week Harold Ickes "hoped" to stave off oil rationing in the U.S., but made no promises. Instead he made plans with Leon Henderson for printing gasoline coupons, if & when...
While lecturing the National Farm Institute about his inflation fears in Des Moines last week, Leon Henderson dropped some startling new statistics. This year, he said, national income will be around $102 billions, while available consumers' goods and services will amount to no more than $65 billions (in terms of 1941 prices). Normal savings, plus the taxes now contemplated, will sop up only $22 billions of the difference; the other $15 billions will be "rattling around with no place to go." The easiest place for the $15 billions to go, Henderson knew, was into higher prices...
...accelerated pace: between last July and January, they rose 9%, as against 5% for the Department of Labor index of 889 wholesale commodities. This ominous trend is even more evident when compared with wholesale prices exclusive of farm and food products. The index for non-farm commodities (where Henderson's ceilings have been concentrated) has risen only 17% in the entire war period, and rose only 4% in the last six months of 1941. Moreover, Henderson's inflationary $15,000,000,000 has barely begun to be felt, and will press upon retail prices with infinitely more force...