The House Banking & Currency Committee finally reported out a "price control" bill. The committee had been three months in labor, but its offspring was a monstrosity. No controls were placed on rising wages, one of the main sources of inflation. The committee voted against putting a ceiling on the prices of farm commodities.
The committee's mice-like labors had brought forth a mountain of confusion. The chairman, bulb-nosed, tobacco-chawin', houn'-dog-lovin' Henry Bascom Steagall of Ozark, Ala. had shown no disposition to hurry price-control legislation until the cotton-marketing season was over. The farm bloc, in complete control of the committee, had...
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