Word: rollback
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Other Congressmen were still trying to find a Baruch-like formula. Alabama's Democrat John Sparkman presented to the Senate Banking & Currency Committee an amendment to the Truman program which would authorize 1) a wage freeze, 2) rationing of scarce commodities, 3) broad rent control, and 4) a rollback of prices to June 25-the day the Korean war began-and strict control as of that date...
...housewives. Last week, T-bone steaks were 70? a lb. in Lethbridge and sirloin was 75? in Ottawa. This was a third less than New Yorkers were paying, but Canadian housewives thought the prices outrageous. In Ottawa they paraded with a papier-mâché cow, demanding a rollback. They would certainly protest more loudly if prices jumped again-as prices certainly would if the government lifted the embargo on beef shipments to the U.S. Yet cattlemen in Calgary, selling choice steers for record prices as high as $23.70 a cwt., griped because the embargo was still...
...President John S. Bugas: "We think the American people are tired of negotiations which seem to have no other aim besides gain for all parties except the consumers." Ken Bannon, U.A.W. Ford director, retorted: if the company would exert its influence with industry and Congress "to effect a substantial rollback in the cost of living," the union "will be happy" to withdraw its demands...
...proclamation was delivered where it would do the most good, at the annual meeting of the archconservative Pennsylvania Manufacturers' Association in Philadelphia. Ostensibly, Big Jim's theme was inflation. The best cure for it, he told the PMAsters, is a price rollback. No matter how unpleasant this medicine might be, "industry ought to set the example by taking the first dose." After all, said Big Jim, with record earnings industry can well afford the risk...
...something. Finance Minister Douglas Abbott announced the remedy: a partial return of price controls. There would be price ceilings on meats, to be fixed in a week or two; controls on butter, to peg it around 73? a lb.; controls on certain types of fertilizers and a rollback of the price of chemical ingredients; extension of the government's price-control powers for another year. The government might even import butter from New Zealand. Rent controls would continue...