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Newspaper
Paris Post
Location
Paris, Idaho, United States of America
Date
Feb 09, 1950
Page
3
Acheson backs token Formosa aid while a 75 cent wage floor is debated. The weekly analysis frames deficit concerns and policy options, reflecting editor opinion from Western Newspaper Union analysts.
The two year ten billion dollar deficit sparks worry of inflation and dollar instability. Dr Edwin G Nourse calls for a hard headed plan to balance the budget within one to two years by cutting or deferring development and welfare programs. Acheson faces questions over 28 million in Formosa aid as US policy in China nears a pivotal moment. Truman trims tax plans to one billion while proposing excise tax cuts and a one billion rise in corporate and estate taxes.
The 75 cent minimum wage for interstate commerce and production workers is now in effect. President Truman praised the law as a social justice advance while CIO leaders urge a one dollar minimum and broader coverage. The change could raise wages for about 15 million people, mostly in the South, costing employers roughly 300 million dollars annually.
The jury found Hiss guilty on two counts related to passing secret documents to Whittaker Chambers and seeing him after 1937. The case prompts questions about legality and perversion of Americanism, while Berlin tensions surge as Soviet blockades and airlift concerns unfold among Allied commands.
In the first FEPC test in this Congress President Truman clashed with southern filibuster tactics led by Sam Rayburn who controlled House agenda. Rayburn twice blocked FEPC passage by prioritizing Alaska and Hawaii statehood measures.
Representative Sutton proposes a treasury money redesign and a one day exchange to trap tax dodgers and curb federal revenue shortfalls. The plan targets widespread evasion by changing bill color and design to flag offenders nationwide.
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