21 Aug 1941
Page 1
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This newspaper page contains 7 articles. Subscribers can read the full text of each article.
Newspaper
Renwick Times
Location
Renwick, Iowa, United States of America
Date
Aug 21, 1941
Page
1
Edward C Wayne surveys government action to curb inflation with installment buying regulations. The piece notes defense priorities shaping policy and hints at rising tension in the Far East, framed by wartime economic and political concerns.
The priorities director at the Office of Production Management, E R Stettinius Jr., announced that steel would be placed under full defense priority. The measure targets shortages and requires steel users to obtain a form detailing the purpose, with defense and lend lease orders taking precedence over nondefense needs. The move expands government economic action and affects rubber and other materials, signaling intensified wartime mobilization amid broader Allied battles in the Pacific and Europe.
Washington learned of a relatively strong Nazi expeditionary force entering Spanish Morocco and poised to strike Dakar and French Morocco. A possible French alliance with Germany would bolster the attack on Russia, complicating U S security amid rising costs and labor strikes. Also noted were shipyard walkouts in Kearny and Brooklyn, a propeller plant stoppage in Caldwell, labor disputes at Philadelphia Navy Yard, and a wartime casualty and shipping loss tally since Britain declared war.
President Roosevelt issued an executive order directing the Federal Reserve to regulate installment buying to curb inflation in the defense boom. The order gives the Fed broad control over consumer credits and aims to start within about two months. Marriner S. Eccles said initial rules would set down payments and repayment periods and would follow consultations with trade and financial institutions.
The essay traces rapid 20th century shifts from horses to autos and tractors, gas powered mobility, and electric home life. It notes farm labor moving from manual to motor driven power, streamlined markets, and a transportation network reoriented by automobiles and lake ports fading from daily use. It stresses American free competition enabling rising living standards and warns against sacrificing the system. It also critiques hidden taxes and debt, linking prosperity to educated workers entering various jobs rather than manual labor lines.
National Farm and Home Hour commentator recounts Malcolm McDonald brief on Canada's wartime forces conscription and service abroad. He notes Canada assigns 22 to 24 year olds to defense, with many volunteering for overseas duty, and cites Canada’s vast war economy and strain on national income.
The item notes love and patience amid war memories, a gas curfew easing parking time, and issues of nervous indigestion from fatter pay envelopes. It mentions Senator Buvis of Pennsylvania proposing a bipartisan commission to study postwar problems and Representative Voorhis seeking related appropriations.
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