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Domestic News
September 15, 1943
United Automobile Worker
Detroit, Wayne County, Michigan
What is this article about?
Director of Economic Stabilization Fred M. Vinson orders a 4% rollback in prices to restore living costs to September 15, 1942 levels using reductions and subsidies. Labor, facing frozen wages, warns of scrapping the Little Steel formula if promises are not met.
Clipping
OCR Quality
95%
Excellent
Full Text
4% ROLLBACK in prices has been ordered by Director of Economic Stabilization Fred M. Vinson. It is said that this rollback will set living costs back to September 15, 1942 levels. Price reductions and subsidies are to be employed to accomplish the cut in costs.
Labor was promised months ago that a rollback would be set in motion. We have waited, while our wages have been frozen.
The ordered 4% cut, it is said, will take place immediately. Accepting promises, labor has bided its time. Unless the promises are fulfilled we have only one alternative—we must scrap the Little Steel formula.
Labor was promised months ago that a rollback would be set in motion. We have waited, while our wages have been frozen.
The ordered 4% cut, it is said, will take place immediately. Accepting promises, labor has bided its time. Unless the promises are fulfilled we have only one alternative—we must scrap the Little Steel formula.
What sub-type of article is it?
Economic
What keywords are associated?
Price Rollback
Economic Stabilization
Fred Vinson
Living Costs
Wage Freeze
Little Steel Formula
What entities or persons were involved?
Fred M. Vinson
Domestic News Details
Key Persons
Fred M. Vinson
Outcome
4% rollback in prices to september 15, 1942 levels using price reductions and subsidies; labor threatens to scrap little steel formula if unfulfilled.
Event Details
Director of Economic Stabilization Fred M. Vinson orders 4% price rollback to set living costs to September 15, 1942 levels via reductions and subsidies. Labor, with frozen wages, awaits fulfillment after months of promises.