Harry S. Truman: The Man from Independence

By William F. Levantrosser | Go to book overview
Save to active project

nomenon uniquely suited to price controls, and the administration immediately reinforced controls with conservative monetary and fiscal policies. The net result of these events and policies was a much-reduced inflation and a President who seemed to be in charge of economic policy. 43 Truman emerges in 1951 as a man who gave the nation an intelligent, comprehensive economic policy which worked. This stands in stark contrast to his reputation in 1946.


NOTES
1.
Executive Order 9328, April 8, 1943. The Public Paper and Addresses of Franklin D. Roosevelt, N.Y. 1943, Vol. 12, pp. 148-57. Hereafter cited as Roosevelt Papers.
2.
The main elements in this compromise were the April 2, 1943 veto of the Bankhead Bill, which would have raised farm prices significantly. This is a key element in price stability because in early 1943 increases in farm prices were exerting great pressures on wage rates; prices of principal food groups were rolled back and the food subsidy program cancelled; price ceilings were placed on all goods which constituted significant items in the cost of living; and the authority to grant wage increases was severely limited and restricted almost solely to extreme hardship cases; and earlier on March 16, 1943, the NWLB rejected the petition of the A.F.L. to change the Little Steel Formula, which was the keystone in the wage stabilization program. Roosevelt Papers, 1943, pp. 135-43. J. Dunlop , "A Review of Wage-Price Policy," Review of Economics and Statistics 29 ( August, 1949), 154-60. Federal Resume Bulletin 45:12, December, 1959, "Revised Industrial Production Index," pp. 1451-74.
3.
The primary objectives of the OPA can be listed as follows: (1) prevent, or at least reduce, the wartime inflation, (2) equitably distribute the burdens of the price and retaining programs in order that no one group in society should bear a disproportionate share of the burden of the war, and (3) prevent a postwar boom in prices. In achieving the first two goals the OPA accomplished an arduous task; it is only with respect to the third goal where the agency floundered. For an analysis of the first two goals, see G. T. Mills , "The Economics of Price Control: The OPA Experience 1941-1946." Unpublished manuscript in author's possession.
4.
Historical Reports on War Administration Office of Price Administration, General Publication No. 15, USGPO, 1947, "A Short History of OPA," pp. 82-83. U.S. Bureau of the Budget, The United States at War, USGPO, 1947, pp. 491-92.
5.
The no-strike agreement reached in a labor-management conference in Washington on December 17, 1941 was formally recognized by Roosevelt in Executive Order 9017 on January 12, 1942. It was this pledge and the government's ability to settle labor- management conflicts during the war which aided high war production. Chronology of the OPA, USGPO, 1947, p. 4. Roosevelt Papers, 1941, pp. 533-36 and pp. 592-93. Roosevelt Papers, 1942, pp. 42-48.
6.
Executive Order 9250 was issued by F.D.R. on October 3, 1942 in an attempt to halt the ever-increasing cost of living. At that time prices were advancing primarily due to rises in food prices and wages, over which the government had no effective control. On October 2, Congress had passed the Economic Stabilization Act enabling the administration to act in this fashion. Under this act low wage increases were theoretically subject to the approval of the Director of Economic Stabilization, as were price increases. As a practical matter the director exercised his authority here only in a few insignificant cases.

-276-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Harry S. Truman: The Man from Independence
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen
/ 438

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.