U.S. At War: Line Held

Inflation, long out of the news, returned to the headlines. But it frightened no one. On the eve of the first anniversary of his "hold-the-line" order, Franklin Roosevelt read to his press conference a report from four of his economic high command.* Its gist:

"The task of stopping the rise in prices has thus far been carried out. . . . The cost of living, which before the hold-the-line order was rising ¾% a month, has for a solid year been held without change of any consequence. . . .

"The nation's basic wage structure has remained substantially unchanged. . . ....

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!