Truman Gains Free Hand To Curb Inflation On Prices
The House approved a 383 to 12 vote granting President Truman broad power to impose wage and price controls, rationing, and production priorities to fight wartime inflation. Taft warned Congress against abdicating authority, while Senate debates similar measures. Austerity would cover new construction and ongoing credits with time limits. New York reports widespread price hikes across raw materials and consumer goods linked to the Korean war.
MENTIONED IN THIS ARTICLE
Washington
House
Truman
Senate
Taft
Ohio
Congress
Mr. Truman
Senate Banking Committee
Maybank
D-Sc
Pusan Saved After History-Making Maneuver in Korea
North Korean regiments pushed within three miles of Pohang and 35 miles of Pusan before U S forces executed a rapid shift of the 25th division enabling a counteroffensive. Lt General Walton H Walker said the move to divert the front saved Pusan and halted the enemy drive toward the vital port.
MENTIONED IN THIS ARTICLE
Tokyo
U. S
Pohang
Korea
Chinju
Eighth Army
Pusan
Walton H. Walker
Walker
Kumchon
Chiniu
Kumchom
William Kean
25Th
Naktong River
Fifth Infantry
Fifth Marine Regiment
U.S
Kigye
Douglas MacArthur
Changnyong
Taegu
Naktong
Waegwan
AFL Executive Group Urges Immediate Price Controls
The AFL executive council urged immediate price controls and higher taxes while allowing wages to rise to match living costs. They called Korea a Soviet invasion and outlined contingency measures including standby rationing powers, tighter tax rules, and voluntary labor-management cooperation to support defense needs.
MENTIONED IN THIS ARTICLE
AFL
Chicago
Executive Council
The
American Federation of Labor Today
Russia
Council
Congress
Byrd urges renegotiation law for war contracts
Sen Byrd of Virginia called for quick enactment of renegotiation legislation to cover all war contracts. He said the defense department cannot secure competitive bids in wartime and urged a system like the last war to curb war profits and stop government overcharges.
MENTIONED IN THIS ARTICLE
Washington
Byrd
D-Va
Department of Defense
Truman Rules Out New OPA To Fight Inflation
President Truman ruled out creating another Office of Price Administration to handle price controls and said existing agencies can manage anti inflation measures during the Korean emergency. He cited plans on an excess profits tax, MacArthur's leadership, UN debate by Malik, and potential high level peace talks, while noting no meeting of heads of state. He dismissed any job for Martin Hutchinson at the FTC.
MENTIONED IN THIS ARTICLE
Washington
Truman
OPA
Douglas MacArthur
Jacob A. Malik
United Nations Starity Council
Congress
John R. Steelman
Senate
Martin Hutchinson
Richmond
Federal Trade Commission
Senate Finance Panel Endorses $1.5 Billion Corporate Tax Hike
Washington August 10 The Senate finance committee unanimously approved a plan by President Truman to boost corporate taxes by 1.5 billion dollars annually. The top rate would rise from 38 to 45 percent effective July 1 1950 with the higher rate applying to half of 1950 earnings.
MENTIONED IN THIS ARTICLE
Washington
Truman
Senate Finance Committee
Congress
United States
Disillusioned Wallace Sees U S and Reds at War
Former vice president Henry A. Wallace said in a radio interview that the United States is at war with Russia in Korea. He called Russia the aggressor and said he now believes Moscow seeks to continue the cold war for its own reasons.
MENTIONED IN THIS ARTICLE
New York
Henry A. Wallace
United States
Russia
Korea
Wallace
Casey Nominated For Mollohan's Job
Washington August 10 President Truman nominated Leo A. Casey of Parsons West Virginia to succeed Robert H Mollohan as U S marshal for the northern district of West Virginia Mollohan resigned to accept reeappointment as clerk of the Senate district committee headed by Senator Neely D WV
MENTIONED IN THIS ARTICLE
Washington
Leo A. Casey
Parsons
W. Va
Truman
Robert H. Mollohan
U.S
West Virginia
Mollohan
Senate District Committee
Senator Neely
Wva
Soldiers Set New Blood Donor Record Fort Eustis
Fort Eustis Virginia personnel set a new blood donor record for Tidewater area installations by collecting 230 pints for the Red Cross blood center.
MENTIONED IN THIS ARTICLE
Fort Eustis
Tidewatter District
Virginia
Red Cross Blood Center
Potatoes Cut Price at Albers Markets in Cincinnati
In Cincinnati on August 10 Albers Super Markets Inc reduces potato price from 35 cents per 10 pounds to 25 cents. Owner William H. Albers says this marks the lowest potato cost in four years amid rising food prices.
MENTIONED IN THIS ARTICLE
Cincinnati
Albers Super Markets, Inc
William H. Albers
Price upsurge hits metal, food and paint markets across industries
Retail shoe prices rise 50 cents to $1.50 as new shoe makers join the market list. Cattlehide up 35 percent and calfskins 20 percent since June 25 per the Tanners Council of America. Tin climbs to $1.01 1/2 per pound, copper, platinum and cocoa costs advance. Candy and baking equipment prices lift, paint costs rise 10 to 25 cents per gallon, and lumber demand widens with civilian needs.
MENTIONED IN THIS ARTICLE
Tanners Council of America, Inc
U. S
United States
Pittsburgh Plate Glass Co
American Machine & Foundry Co
Pacific Northwest
Defense Department
Austin Labels North Korea a Russian Armed Zombie
United States envoy Warren R. Austin told the U N Security Council that North Korea is linked to Russian weapons and a broader imperial agenda to erase Korea. The Soviet Union dismissed the charge as slander while admitting arms sales in 1948 and warned of procedural deadlock on a US resolution.
MENTIONED IN THIS ARTICLE
Austin
North Korea
United States
Republic of Korea
Whias
Warren R. Austin
U. N. Security Council
Soviet Union
Moscow
Russia
Jakob A. Malik
Gladwyn Jebb
Britain
Malik
Belgium Senate Approves Transfer of King Leopold III Powers
The Belgian Senate voted 121 to 22 to shift royal powers to Prince Baudouin, 19, who is to take an oath as prince royal. The lower house approved 165 to 27 with seven abstentions as Belgium plans a second regency until Baudouin's 21st birthday in 1951. Leopold remains king in title until abdication.
MENTIONED IN THIS ARTICLE
Brussels
Belgium
Leopold III
Prince Baudouin
Baudouin
Prince Royal
Senate
Leopold
Switzerland
West Virginia Native Accused in Single Murder on Southern Pacific
Harold T. Lantz, 28, a discharged SP employee, is charged with the rape and murder of Ada C. Park, 68, a temperance worker and former teacher, found slain in the Minneapolis sleeper of the Golden State Limited near Bisbee Arizona after boarding the train in Tucson. Lantz, a Richwood West Virginia native, had been discharged by the army in 1942 and fired by SP for unsatisfactory work.
MENTIONED IN THIS ARTICLE
Douglas, Ariz
Iowa
Perth
Southern Pacific
Golden State Limited
Ada C. Park
Arizona
Harold T .Antz
Minneapolis
Lantz
Pruitt
Tucson
Railroad
Coydon
Richwood
W. Va
Taylor Stays Defiant in Idaho Senate Primary Rematch
Idaho voters tally unofficial returns showing D Worth Clark leading over Glen H. Taylor by about 1 1 61 votes with 810 of 839 precincts reported. Compton White trails. official canvass starts August 19. Total ballots reached 129 881, a new Idaho primary record.
MENTIONED IN THIS ARTICLE
Boise
Idaho
Glen H. Taylor
Taylor
Henry A. Wallace
Progressive Party
D. Worth Clark
Compton I. White
Clark Fork
Clark
Parkersburg Water Supply Threatened Over Wage Fight
Parkersburg West Virginia faces a potential strike that could halt most city services including water. CIO field rep William McGivern warned council members that without action a strike is the only option. Mayor Golden Underwood responded that efforts have been made within budget limits. The proposed 1950 51 city budget calls for a seven percent raise for most employees except councilmen, the mayor, and city attorney.
MENTIONED IN THIS ARTICLE
CIO Field
William McGivern
Pittsburgh
Golden Underwood
Nelson And Emspak Cited For Contempt
Washington reports the House cited Steve Nelson and Julius Emspak for contempt as part of the un American Activities Committee push against alleged communism. The 58 witnesses faced possible federal prosecution with penalties up to a year in jail and $1000 fine for contempt.
MENTIONED IN THIS ARTICLE
Washington
House
Steve Nelson
Julius Emspak
Electrical Union
unAmerican Activities Committee
Federal District Attorney
Congress
Universal Military Draft Plan Debated in Congress
Washington reports that a universal military training bill is being drafted for possible congressional consideration. Rear Admiral H A Houser told the senate armed services committee that about 200000 soldiers would be needed to train 900000 youths yearly, with first year costs around 600 million dollars and potential annual costs rising to 2 billion.
MENTIONED IN THIS ARTICLE
H. A. Houser
Defense Department
Senate Armed Services Committee
Congress
Tydings
D-Md
Houser
Also Mentioned on This Page
Ohioan
Ene
5Th Marine Regiment
Kosong
Chinahe Gulf
Reds
Red Cross
Barbara Hussey
South Korea
Japan
Cpl
James Cook
Salt Lake City
Utah
Grant Hale
Stiltner
On Council
Sen
Hutchinson
Casey
Prince
Southern Pacific Employe
I. V. Pruitt
Tom Bryan
Charles Modesette
Bisbee
Ariz
Daily Review
Modesette
Parkersburg
Nelson
Emspak
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