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Newspaper
Corry Evening Journal
Location
Corry, Pennsylvania, United States of America
Date
Jan 07, 1949
Page
6
Two Warren boys picked up by police yesterday were released after officers reached their parents. They had been believed runaways. A dog complaint at 0 West Irving Street drew police attention but no dog was found after a 10:30 p m area check.
President Truman outlines policy directions promising lower rates if a recession occurs. He calls for price ceilings on key materials selective rather than broad wartime controls, urges voluntary cuts first, and stresses private enterprise with strong government. He seeks two years more rent control and considers excise tax tweaks, higher corporate and estate levies, and targeted middle to upper income tax rises. He also asks extension of steel industry laws.
The report notes President Truman warning that voluntary measures cannot solve acute shortages and price distortions. He called for government power to enforce controls while limiting wage increases that would raise ceilings, and he sent the briefing to the Senate House Economic Committee to guide wartime economic policy. Pittsburgh business activity also fell about two percent from the prior week, with declines in transportation and manufacturing shipments and industrial output.
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