Word: leon
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Dates: during 1940-1949
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...called Braintrusters, or the Janizariat. To tackle the great problem of his first term, Depression, the President had a powerful braintrust: Raymond Moley, Donald Richberg, General Hugh S. Johnson, George Peek, Rexford Tugwell-all now off the scene. The so-called Second New Deal-Robert Jackson, Harold Ickes, Leon Henderson, William Douglas. Corcoran, Cohen-are separately employed to the point of scatteration...
Until last week, World War IPs priorities operations had been divided and subdivided. In the Office of Production Management, priorities were theoretically managed by Edward P. Stettinius as priorities chief in charge of raw materials and commodity production; and certainly affected by Donald M. Nelson as procurement chief; Leon Henderson through price controls; John D. Biggers through processing Awhile the Interstate Commerce and Maritime Commissions supervised delivery priorities; the Bituminous Coal Division, Federal Trade and Federal Power Commissions all had dabbling hands...
...pinch is already on those durable consumer goods (like automobiles) that compete with arms for materials. But Mr. Keynes thinks the U.S. can still avoid both general price fixing and inflation, especially if Leon Henderson keeps a strong hand. "His is the most difficult job," said the mellowed Cassandra. "You must give him every support...
This pincer plan was outlined in a memorandum prepared for the War Department last summer by Rolf Nugent of the Russell Sage Foundation, who since has been doing further work on the problem for OPACS Chief Leon Henderson. Nugent suggested a 25% excise tax on automobiles, coupled with larger down payments and fewer months to pay the balance. His estimate : time purchases of automobiles (which now account for about two-thirds of all new car sales) could be cut in half by requiring a 50% down payment and the balance in ten months...
Last week the tax half of the pincer was laid before the House Ways and Means Committee by Leon Henderson. He urged a 20-25% excise tax on all sales of automobiles, old and new. The installment-sales half was still being studied by OPACS and Federal Reserve economists. Since so many finance companies, dealers and banks compete for the business, best guess was that some form of Federal regulation of installment sales was likely. Possible first move: limitation of installment contracts to 18 months. Consumption of other durable goods besides autos-refrigerators, stoves, furnaces, etc.-could be controlled...