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The Ypsilanti Daily Press
Ypsilanti, Washtenaw County, Michigan
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In Washington on Aug. 4, the House Banking and Currency Committee starts hearings on the administration's price fixing bill. Leon Henderson, head of the Office of Price Administration, leads witnesses. Rep. Wolcott insists on thorough review, including credit controls despite their removal from the bill.
Merged-components note: These two components on page 1 form the initial part of the 'Price Control' story, which continues on page 6. However, since the continuation on page 6 is a separate component, no merge across pages is performed as per conservative merging rules for non-sequential reading order; they are already logically connected but labeled correctly as is.
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(By International News Service) Washington. Aug. 4 - INS The House Banking and Currency Committee opens hearings today on the administration's far-reaching price fixing bill, with the list of government witnesses led by Leon Henderson. head of the Office of Price Administration and Civilian supply. As the committee called Henderson, who is slated to become controller-of the nation's prices if the proposed bill is enacted into law, Rep. Wolcott (R) Mich., ranking minority member of the House group. declared he will demand "full and exhaustive hearings." "I have no desire to delay final action on this bill, but I regard the matter as of such extreme importance, affecting every man, woman and child in the country, that I will insist that it be studied thoroughly." Wolcott, who also is chairman of a special Republican committee to study price control, asserted. Would Control Credit While not opposing "some form of price control" Wolcott and several other House members served notice they will examine every phase of the administrations program and will demand that it include some form of control over credit as well as prices and rent. Credit control provisions already have been eliminated from the proposed measure, but they are expected to be offered later in the form of separate legislation. May Set Ceilings As the bill now stands it would permit the President to set ceilings on any industrial commodity. raw materials or service, but See PRICE CONTROL-Page 6
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Washington
Event Date
Aug. 4
Story Details
The House Banking and Currency Committee opens hearings on the administration's price fixing bill, with Leon Henderson as lead witness. Rep. Wolcott demands full hearings and inclusion of credit controls.