By last week, the fear of a new wave of inflation from the coal wage pact became great enough to bring a special plea from President Truman to businessmen. He asked industrialists to withhold immediate increases in the price of coal and in the price of steel, "until the actual increases in costs are determined. It is only reasonable," said he, "to ask coal and steel producers to wait until a fair test has been made."
It was so reasonable that U.S. Steel Corp.'s President Benjamin F. Fairless, on vacation in Honolulu, said: "That's exactly what we intend to do."...
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