The cherished American custom of buying the good things of life on the installment plan has been greatly restricted by Regulation W, a wartime emergency measure. Buyers have had to plunk down one-third of the purchase price on cars, refrigerators, etc., pay off the rest within 15 months. Last week, President Truman said he would soon scrap Regulation W as he does not feel that such war measures should be retained indefinitely. But he hoped Congress would make consumer credit control permanent. Marriner S. Eccles, chairman of the Federal Reserve Board, told the House Banking and Currency Committee why it should.
There...
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