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Newspaper
Cincinnati The Sun
Location
Cincinnati, Ohio, United States of America
Date
Jan 02, 1948
Page
1
Police Chief Weatherly sought to avert embarrassment by asking a city committee to destroy a racial hate cartoon he received. He kept the drawing in the office of Assistant Chief Adams and later showed it to try to raise funds, saying it was well drawn and noting a fanatical letter accompanying it.
Senator Robert A Taft signals readiness to advance his charity health measure if Democrats press the Wagner Murray Dingell plan. President Truman expected to urge federal health insurance in the state of the union address on January 6.
New York reports show industry profits up 89 percent in the first nine months of 1947 versus 1946 with eight auto makers logging a 965 rise. Fortune polls indicate many executives expect higher profits in early 1948, while wages rose about 10 percent.
Washington lawmakers returned home as the Taft four point plan lapsed into criticism. The bill failed to curb prices or shortages and drew concern from the New York Times and Wall Street Journal that it may delay relief, curb buying power, and boost inflation.
CIO Economic Outlook argues profits are often misrepresented by using sales instead of net worth. It cites Armour & Co and GE among large firms showing much higher returns when profits are tied to net worth, a key comparison tool across years and industries.
The staff of The CIC News reports that Congress will return in 1948 to the same inflation dispute and public messaging. Lawmakers may push inflation controls that avoid real price relief while framing OPA's death as unrelated to inflation or Truman blamed. NAM launches a skeptical campaign against high prices as inflation cause, with limited impact.
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