PRICES: Return of Fair Trade

Bundled up in a bathrobe and pajamas, President Truman (see NATIONAL AFFAIRS) last week signed into law one of the most bitterly fought bills in the last session of Congress. The new law, sponsored by Connecticut Democrat John A. McGuire, legalizes tight Fair Trade price control in 45 states.* Under the law, Fair Traders who sign up with manufacturers to sell at minimum prices can force all other merchants in their state to observe the same minimums, whether they sign up or not. Thus Congress and the President had legalized the same mandatory signing clause which the U.S....

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