Word: rollback
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...abandoned its dream of a complete rollback, and began rewriting the retail price lists which would go into effect Sept. 9. Consumers would probably pay about 6? a pound more for beef, 3? more for pork than they had when ceilings were taken off meat. But the average would be lower (by 25% for beef, 40% for pork) than in last month's free market...
...order had merit, and no fair-minded merchant sniped at its objective. Bowles wanted to be sure that the strong-armed rollback of textile manufacturers' prices (TIME, Dec. 4, March 5) is passed on to consumers instead of swelling retailers' profits...
...Rollback. Franklin Roosevelt now concedes that he cannot roll prices back (see p. 21) to last September's levels, as his April "hold-the-line" order contemplated. But his price lieutenants still hope that a new program, plus normal operations of the law of supply & demand as summer vegetables flood in to market, will keep the cost of living within reasonable bounds...
With these things in mind, the Congress killed the embryo "rollback" cold. The House, voting on a bill to extend the life of Commodity Credit Corp. (which would pay the subsidies), tacked on so many crippling amendments that any Administration official attempting to roll back prices could probably be tried, convicted and hanged...
...Senate forthwith killed the rollback 46-to-29. Subsidies were stone-dead...