Word: leon
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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...
...point, 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...
...quantity from the Far East, U.S. farmers had the food situation well in their plow-calloused hands. They were doing better than the Washington food bureaucrats. A half-dozen Government agencies were dabbling in the food problem, with well-confused results. The Agriculture Department's sugar section and Leon Henderson's Office of Price Administration, among others, played with sugar rationing. Nearly everyone had a hand in the fats & oils market: Agriculture, OPA, State Department, Board of Economic Warfare, WPB's food section, Jesse Jones's Defense Supplies Corp., even the British Purchasing Commission...
...principal credit for spotlighting forced saving: 1) Leon Henderson, OPA price fixer, talked ominously last February about the "inflationary gap." This year, said Henderson, in round figures, our spendable national income will amount to $80 billions. Only $65 billions of consumable goods (1941 prices) will be available. 2) England's urbane, puckish, innovating economist, J. M. Keynes, originally detonated the deferred-pay bombshell in November 1939. The Exchequer pooh-poohed Keynes in 1940, but put a part of his idea into the 1941-42 budget...