National Affairs: Stand-By & Indirect

Hardly any Republican in Congress approves of the Truman Administration's floundering stabilization program. Nevertheless, Republicans do not plan to end all wage and price controls immediately after Jan. 20. Key G.O.P. Senators and Representatives want to give the new Administration a chance to work out an attitude toward controls. Michigan's Representative Jesse Wolcott and Indiana's Senator Homer Capehart, who will head the committees most interested in controls, plan public hearings in early February. The general course Wolcott would like to chart:

¶Abandon most direct controls (notable exception: retain rent controls in really "critical" areas). ¶Establish a stand-by controls system. ¶Use...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

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