Word: prices
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Dates: during 1940-1949
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...Senate side, Administration witnesses hardly seemed to be trying. Both Treasury Secretary John Snyder and Federal Reserve Board Chairman Thomas McCabe were plainly reluctant to discuss price controls. Said Secretary Snyder: "I have stated many times that I am not in favor of price controls. Nor am I in favor of castor oil. But if I've got an ailment and it's going to save my life, then I'll take...
...Price. The Department of Agriculture is already tangled up in the Alice-in-Wonderland economics of the support program in another farm product: after spending $40 million to support potato prices last year, the department asked farmers not to increase their potato acreage this year. But farmers increased production with better fertilizers, insecticides, irrigation. They felt sure the high support prices would go even higher. By last week the Government had already paid out $17 million for surplus potatoes-and the bulk of the crop is yet to come...
...Price. The Government is buying surplus potatoes at around $1.55 a bushel, and selling them to distillers and food processors at a give-away price of 9?a bushel. (The Government pays the freight, which averages another 40^ a bushel.) The. only condition is that the buyers turn the potatoes into flour. To help feed occupied Germany, the Army has promised to pay about $7 a hundred pounds for as much as 448 million pounds of potato flour, about 30 times the normal annual output. With a highly profitable market thus assured, dozens of companies have started making flour...
...catch is that a bushel of potatoes makes only ten pounds of flour. All told, the flour will cost the Government close to $25.60 a hundred pounds. That is five times what it has to pay for wheat flour. Meanwhile, the retail price of potatoes stands at $2.60 a bushel, twice the 1941 price...
Scaled Up. Toledo Scale Co. came to the rescue of butchers whose prices have outrun the computing capacity of their scales. Toledo's new scale will have 39,000 new price computations (total: 129,000) for fractions of pounds...