GOVERNMENT: How to Bring Prices Down

"The American taxpayer is weary of being gouged," said Senator Lyndon B. Johnson last week. Texas' Johnson was talking about the price of tin. Since Korea, tin had jumped 140% on New York's commodity markets, from 76 3/8¢ to $1.84 a lb., highest in history. Even in World War II, the U.S. kept a 52¢ ceiling on tin. This time, with much of the U.S. imports of 108,000 tons last year going into the stockpile or armaments production, the taxpayer has been footing the bill for the difference.

In an angry 56-page report, Senator Johnson pinpointed the main reason for the...

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