CURB ON INFLATION
ROOSEVELT FREEZES WAGES AND PRICES FOOD ADMINISTRATOR’S WARNING Recd. 11 p.m. Washington, April 9. Taking steps to combat inflation, President Roosevelt has issued an executive order placing price ceilings on all commodities affecting the cost of living and forbidding further increases in wages and salaries, as well as the changing of jobs to obtain higher pay. The order asserts that price increases will not be sanctioned unless imperatively required by law. Wages will not be raised unless it is clearly necessary to correct low standards of living. The Food Administrator, Chester Davis, told his press conference that 35,000,000,000 dollars of surplus spending power must be recaptured by the Government to enable the present price and wage controls to combat inflation effectively. Davis recommended higher taxes and sharply increased investments in war bonds to relieve the strain of too much purchasing power on the declining volume of consumer goods. He said: “This is no 10 per cent, war.”
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Wanganui Chronicle, Volume 87, Issue 84, 10 April 1943, Page 5
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160CURB ON INFLATION Wanganui Chronicle, Volume 87, Issue 84, 10 April 1943, Page 5
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