The President last week killed an inflationary threat. He vetoed the Bankhead bill, S.B. No. 660, the latest move by the Congressional farm bloc to boost farm prices. No. 660 was inflationary in that it would have excluded Federal farm benefit payments from the calculation of parity prices for price-ceiling purposes. This would automatically have provided a higher base for parity prices, and would thus have forced ceiling prices up.
This was the President's 588th veto.* With it he sent the Senate his third major message on inflation. The first message, a year...
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