Word: wage
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Dates: during 1950-1959
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...Finger on a Fact. President Truman understands the obvious need for wage & price controls. What he does not seem to understand is that inflation cannot be controlled unless the flow of money is damped down. And the flow of money is controlled, to a large extent, by how freely banks can dump Government bonds, without loss, on the Federal Reserve...
This week, although the strike was over, nothing was really settled in a wage dispute which had been going on for almost two years. As a small sop, the Army temporarily boosted wages by half the amount the carriers had agreed to pay last December (an amount which the brotherhoods had rejected). No one expected the brotherhoods to be satisfied with that. The brotherhoods smarted under their defeat, under the President's harsh words, and, incidentally, under a federal judge's verdict that William P. Kennedy's Brotherhood of Railway Trainmen was in contempt of court...
Thousands of rank & file union men were angry at going almost three years without a wage raise (largely because their bosses couldn't agree on a few technical details). They were angry, too, at being called unpatriotic. In their anger, they were willing to be mean. So, suddenly, they decided to go in for the mass lie. The pattern of the phony epidemics changed from day to day. On some railroads the wildcatters began drifting back after a few days, but when they did, more reported sick elsewhere. At St. Louis strikers had "tonsillitis"; at Detroit they guessed, soberly...
Green and Murray also thought that John L. Lewis, bitter foe of the Administration, was getting preferential treatment. Their evidence: last week the Government thawed out its wage freeze to permit Lewis' coal miners to get a $1.60-a-day raise under their new contract signed before the freeze deadline (a coal price boost of 25? to 90? a ton was also permitted). Lewis, said Green and Murray, was now one wage round ahead of the A.F.L. and C.I.O. But the stabilizers had a soothing answer to that. They were hard at work on a general wage thaw...
Slichter pointed out that on December 21, the leaders of the Brotherhood of Railway Trainmen and three other brotherhoods signed a memorandum agreement which called for a three-year moratorium on strikes based on wage and rule demands, in exchange for wage increases and other concessions...