INFLATION CURBS

Gisborne Herald, Volume LXXIV, Issue 22511, 15 December 1947, Page 5

INFLATION CURBS

REPUBLICANS’ AIMS VOLUNTARY ACTION 10-POINT PROGRAMME (N.Z.P.A. —Reuter—Copyrlcht.) (10 a.m.) WASHINGTON, Dec. 14. A conference of Republican Senators adopted a 10-point programme to combat inflation without creating additional controls, but promised that if voluntary action does not work, to consider authorising Government controls. Although the conference approved roughly half of President Truman’s anti-inflation recommendations, it rejected his request to impose rationing and price and wage controls. The main points .of the programme which Senators will endeavour to pass at the current special session of Congress are:— 1. To extend export control for another year. 2. To restrict exports, particularly to countries which have not suffered war devastation. 3. To authorise the President to enter into temporary voluntary agreements with industries to limit stockpiling. 4. To extend rent controls for another year. J ’ 5. To discourage further increases in bank credit and any undue increase in consumer credit. The other points call for elimination of non-essential Government spending for voluntary effort by citizens to save food and money.