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Newspaper
Patoka Register
Location
Patoka, Illinois, United States of America
Date
May 02, 1947
Page
2
Western Newspaper Union reports residents describe rising budgets and scarce materials as production lags postwar. An excess profits tax is debated amid examples of price spikes, labor shortages, and profiteering fears in local shops and homes.
Washington reports describe a secret cabinet session with Dr. Edwin G. Nourse and the three member council of economic advisers delivering a grim forecast. They cited price increases, falling wages, rising corporate profits, and a potential recession, urging action to avert hardship. Truman plans a western presidential tour to bolster prospects.
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