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Newspaper
Cincinnati The Sun
Location
Cincinnati, Ohio, United States of America
Date
Nov 19, 1948
Page
8
The CIO Economic Outlook states millions of American families exhausted savings after Congress rejected OPA. It notes five to six million households cashed final U.S. bonds and that dis-saving rises among low earners as savings erode from 1947 to 1948.
The Outlook argues that wealth concentration rose from 46 to 77 percent among the top 10 percent from 1945 to 1947 while about 13.5 million families drained $11 billion in savings and 4 million, mostly unskilled and elderly, had no savings or credit. It lists charts on U.S. bonds, income shares, and who owns wealth.
The data show savings rose from 46 percent of the total in 1945 to 77 percent in 1947, indicating a substantial shift in how funds were allocated over the two years.
A dialogue fragment shows Dilworth drafting amendments to the Taft-Hartley Act while urging absolute silence. Luther mocks the plan as Truman seeks a fair compromise to protect labor and management rights, highlighting tensions between capital and unions. The exchange includes accusations of Communist influence and contrasts profits with workers’ rights.
The text notes a Doctor associated with Britain vu ment has long been active in the Labor Party and served on the Executive Board of the Fabian Society, highlighting a civic leadership role in the town.
A dialogue mocks labor policy with Pop praising a Taft-Dilworth act that supposedly eliminates unions while promising broader changes. The exchange mentions Taft-Hartley, Wagner act, and congressional fights with taunting forecasts of labor-management clashes and public opinion.
Allen Flanders, noted English author and Labor Party leader, will speak in Cincinnati on Sunday, Nov. 21, under the Peoples Church auspices. The event will be held at the Railway Clerks Building, 1015 Vine Street.
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