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Newspaper
Denton Journal
Location
Denton, Maryland, United States of America
Date
Apr 20, 1951
Page
4
Retailing boosts living standards by widening goods access and stretching family incomes. Wages rise faster than prices, with store profits only a few cents per dollar. Census data show many families still under 5000 dollars yearly, while per capita income reaches record highs due to mass production and distribution.
In a single sixty minute hour the railroads relay over 1,000 trains, handle nearly 17,000 express shipments and 1,300,000 pounds of mail, receive and deliver 4,200 carloads of freight, and pay substantial taxes, wages, and operating costs. The industry moves the nation day and night, in peace or war, dwarfing other carriers.
The Administration cut proposed tax hikes for the next year amid rising public and congressional resistance to broad tax increases. It urges careful drafting, economy in government, and curbing “special” taxes, criticizing a proposed 50 percent rise in the capital gains tax to 37 percent as potentially harmful to investment and revenue.
An oil company challenged a Petroleum Administration for Defense order on high octane gasoline as discriminatory and ineffective. The administration withdrew the order and adopted a policy allowing tetraethyl lead stockpiling for national defense while aiming to be fair to consumers and industry. The piece argues for maintaining competition to boost production and national security.
Congress shows economy-minded stance led by Senator Byrd with a plan to trim the next budget by over 9 billion dollars. Critics urge cutting proposed federal power and river projects arguing private utilities can meet demand cheaper and taxes would rise if government projects proceed.
The week’s news centered on President Truman’s dismissal of General MacArthur. Congress called for full foreign policy inquiry and hearings on MacArthur’s views. House and Senate leaders commented, with mixed reactions from Republicans and Democrats about military policy and accountability. The actions include passage of H R 1 for $10,000 life insurance for servicemen and universal military training measures. The RFC Reorganization Plan passed, moving to a one-man administrator effective April 30.
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