Truman Seeks Faster Production and Limited Controls
President Truman urged Congress to grant limited emergency powers and a $5 billion tax increase to boost civilian output and prepare for potential broader mobilization. He warned Korea’s costs and possible future crises require faster industrial expansion, with new loans and guarantees, while urging industry and consumers to curb hoarding and price pressures.
MENTIONED IN THIS ARTICLE
Washington
Truman
Congress
Korea
Mr. Truman
Oklahoma Senate Race Shifts Power As Monroney Beats Thomas
Oklahoma political veteran Senator Elmer Thomas concedes to Rep. Mike Monroney in a bitter Democratic primary runoff. Monroney leads with over 20,000 votes as Thomas retires after 28 years in Congress. Louisiana and Arkansas results also highlight sweeping primary outcomes shaping November contests.
MENTIONED IN THIS ARTICLE
Elmer Thomas
Oklahoma
Thomas
Congress
Senate
Agriculture Committee
Mike Monroney
Associated Press
Washington
Louisiana
Arkansas
South Carolina
Russell B. Long
Huey P
Sid McGrath
Ben Laney
Monroney
House
Bill Alexander
Senator Long
Malcolm LaFargue
Shrevert
Isiana
Long
LaFargue
MacMath
South
McMath
Laney
J. William Fulbright
Johnston Murray
William O. Coe
U. S
W. J. Bryan Down
Greenwood
John J. Riley
Sumter
Britain's Asiatic Fleet To Be Put On War Footing
London July 26 the royal navy announced plans to place the far eastern fleet on a wartime footing The admiralty said it will keep officers and men beyond their enlistment recall reserve officers and Royal Marines and retain on foreign stations personnel due for home leave to boost crews to meet ongoing preparedness for action
MENTIONED IN THIS ARTICLE
London
Royal Navy
Far Eastern
Admiralty
Navy
Royal Marines
Baruch urges swift price wage and rent freeze
Former mobilization adviser Bern ard Baruch urged immediate nationwide economic mobilization including a quick freeze on prices wages and rents. He told the Senate banking committee that wartime controls may be expanded beyond current Truman requests and argued for full resource use to strengthen defenses and meet essential needs.
MENTIONED IN THIS ARTICLE
Washington
Bernard Baruch
United States
Baruch
Senate Banking Committee
Truman
Revised Social Security Bill for Sweeping Expansion
Washington officials aim to send a broad social security bill to President Truman that would raise old age pensions, expand coverage to 10 million more workers, and nearly double payroll taxes over two decades. The plan increases future benefits about 100 percent and current recipients about 77.2 percent, with family maximums rising to 150 dollars monthly, and adds self employed and domestic workers to coverage.
MENTIONED IN THIS ARTICLE
Washington
Congressional
Truman
Wholesale Food Price Index Up Sharply In Week
The Dun and Bradstreet wholesale food price index rose to 6.49 this week, eight cents over last week and the highest since October 1948. The index, up about 9 percent since the Korean War began a month ago, is 13.3 percent above the year ago level with 21 of 31 foods higher in wholesale cost. Flour, wheat, corn, rye, oats, barley, lard, butter, cheese, sugar, cottonseed oil, cocoa, peanuts, eggs, rice, raisins, currants, prunes, steers, hogs and lambs gained. beef, hams, bellies, coffee, and potatoes declined.
MENTIONED IN THIS ARTICLE
New York
Dun & Bradstreet
Two Largest Labor Unions Agree to Cooperate
The AFL and CIO form a permanent unity committee to coordinate politics legislation and international policy with plans to include the United Mine Workers and other unions. They caution that full merger is not imminent while signaling unprecedented cooperation across their 141 unions.
MENTIONED IN THIS ARTICLE
Washington
AFL
CIO
Afl-Cio
United Mine Workers
AFL and Cio
More Canadian Planes To Korea
Five of six Royal Canadian air transports named the North Stars began the second leg of their hop to the Pacific coast from Steveston airport carrying 250 men of the 426th transport squadron. The crippled sixth plane would depart four hours later joining American planes at McChord Field Tacoma to ferry supplies for UN forces. four more North Stars to follow. Canadian destroyers were sent to the west coast to serve under the UN flag.
MENTIONED IN THIS ARTICLE
Winnipeg
Man
Royal Canadian Air Fare North Stars
Canada
United Nations
Korea
Stevenson Airport
Pacific
426Th
McChord Field
Tacoma
Wash
North America
Japan
U. N
North Stars
Farlier Canada
Truman Seeks 5 Billion Tax Hike With Quicker Increases
President Truman proposes a 5 billion dollar tax rise to be phased in starting October, boosting individual taxes by up to 2 percent and raising the wartime peak take to about 21.9 billion. The plan includes retroactive corporation taxes for 1950 and a partial year impact for individuals, with potential further hikes hinted for January. Congress debates timing and scope, facing opposition to retroactivity and lack of excess profits tax.
MENTIONED IN THIS ARTICLE
Francis M. Lemay
Washington
Truman
Capitol Hill
Congress
Sam
George
D-Ga
Senate Finance Committee
Oma
Finance Committee
Brewster
R-Me
Robertson
D-Va
Johnson Defends U S War Machine to Congress
Secretary of Defense Johnson told a Senate panel that U S military strength was higher on June 25 than at any time since World War II. He cited a 165 percent rise in the army general reserve between 1948 and 1950 and argued for increased mobilization to support Korea and UN action.
MENTIONED IN THIS ARTICLE
Washington
Johnson
America
United States
General Reserve
Army
Navy
Air Force
Senate
Truman
Korea
United Nations
MacArthur
Republic of Korea
Britain to Send Ground Troops to Korea Amid UN Call
Britain will reinforce South Korea with infantry armor artillery and engineers. Defense Minister Shinwell announced in the House of Commons that the United Nations and allied Commonwealth nations will provide a land reinforcement backed by a full scale war footing by the Far Eastern fleet. Turkey has offered 4500 troops under the US led aid program.
MENTIONED IN THIS ARTICLE
London
Britain
Korea
Emanuel Shinwell
House of Commons
Shinwell
House
United Nations
Australia
New Zealand
Turkey
Thailand
Siam
South Korea
Communists Use Women And Children To Shield Attack
U. S. officer Maj. William O. Witherspoon described North Korean forces using hundreds of non combatants as a shield for four tanks crossing a mined bridge near Yongdong in a morning assault. American forces withdrew east of Yongdong with light casualties after regroups and continued fighting through the night.
MENTIONED IN THIS ARTICLE
Don Whitehead
U. S
Korea
Yongdong
William O. Witherspoon
Grand Ave
San Francisco
Witherspoon
U.S
Rayon Yarn Prices Advance Two to Six Percent
New York July 26 Celanese Corporation of America increased Rayon yarn prices by two to six percent for September delivery. The rise covers acetate and viscose filament yarns with August output already sold. Acetate and viscose rayon yarns serve weaving and knitting trades for apparel and hosiery.
MENTIONED IN THIS ARTICLE
New York
Celanese Corporation of America
Reds Press Koreas Front In Push Toward Pusan
Fifth air force and U S troops attacked Communist forces along the south tip of Korea near Pusan to slow the drive toward the vital port and supply base. Carrier planes engaged Reds in the center and southwest while Britain Australia and New Zealand pledged ground units to aid United Nations forces.
MENTIONED IN THIS ARTICLE
Korea
Taejon-Yongdong
U. S
Yongdong
Haenam
Kwangju
Namwon
Kurye
Yongdok
Pohang
Chopgju
Fifth Air Force
United States
Pusan
Fifth Airforce
Hadong
Associated Press
United Nations
South Korea
Britain
Australia
New Zealand
Turkey
Thailand
Acheson
Truman
Kumchon
Brisk Rally Lifts New York Stock Market
A brisk rally led by a jump in radio television stocks helped the market recover from a morning decline. Major shares gained up to about $2, with prices rising for Crucible Steel Bethlehem Steel Jones Laughlin General Motors Studebaker Goodyear U S Rubber Douglas Aircraft Emerson Radio Philco Radio Corp Zenith American Cyanamid Dow Chemical Du Pont American Can American Woolen Pennsylvania Railroad Southern Railway Chesapeake Ohio Texas Company United Air Lines and U S Gypsum.
MENTIONED IN THIS ARTICLE
New York
Crucible Steel
Bethlehem Steel
Jones & Laughlin
General Motors
Studebaker
Goodyear
U.S. Rubber Douglas Aircraft
Admiral Corp
Emerson Radio
Philco
Radio Corp
Zenith
American Cyanasmid
Dow Chemical
du Pont
American Can
American Woolen
Pennsylvania R. A
Southern Railway
Chesapeake & Ohio
Texas Co
United Air Lines
U. S. Gypsum
Also Mentioned on This Page
Cal
Tolanl
Srealath
North Korea
Sen. Thomas
Okla
U.S. War Machine
Pentagon
Far East
Taejon
Howard Jacobs
Charleston
S. C
Chet
Earl Lundberg
Akron
Iowa
Aphoto
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