Indianapolis Times, Indianapolis, Marion County, 8 January 1947 — Page 3

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« prices wherever possible,

_ ‘that of the country at large,” he said, * “labor should refrain from démands for excessive wage increases that would require price increase or would

“to be. used for a cafeteria, recrea-

I Truman an Puts “Slow’ Signal On Pay Raises

Holds Buying Power Must ‘Be Kept High |

By DAYTON MOORE United Press Stalt Correspondent WASHINGTON, Jan. 8.—President Truman declared today that the nation's overall prosperity this ‘year depends primarily upon price ctions, rather ge Increases, ‘But he conceded that pay raises were justified in individual instances where wages and salaries “have lagged substantially behind the increase in living costs in the past few years or where they are substandard.” He said wage hikes also are warranted as a reward for increased | ‘productivity. Ability to Buy Is Answer

Reviewing the ‘outlook for 1947 in his economic report to congress, | Mr. Truman said the basic answer to the prosperity question “hinges

than general

on purchasing power—the public’'s|of plenty and not upon “ability to buy all the goods pro-

duced.” “A major approach to bringing real purchasing power of consumers into balance with productive capacity this year must be through reduced prices,” he said. { He urged business to reduce

But. he said price reductions should be made with “discriminating regard for specific circumstances rather than on an overall national basis.” Reductions needed Mr. Trumbn said price reductions were needed especially on many articles of food, textiles, clothing, house furnishing, housing and building materials. He said prices on these had risen out of line, He also flashed a caution signal to labor. “For its own advantage as well as

prevent price reductions that are necessary to sell the capacity out"put of the product.” He estimated that, with employment remaining around the present ‘record level of about 58 million, the flow of consumer goods this year would be larger than in 1946. Production Up Maximum production in 1947 was estimated at about 5 pér cent above the level reached during the fourth quarter of last year—an annual rate of $205 billion market value for all goods and servicés produced. President Truman explained that consumer purchasing power ‘could be increased to buy this greater output of goods through spending of savings, expanded credit buying, increases in “money” incomes or additional “real purchasing power.” He rejected all but the latter, saying spending -of savings or expanding credit would be at best “only a temporary solution” and “certainly not a desirable one.” “An attempt to raise income by the amount necessary would mean such large increases in money wages and salaries at certain points as to threaten curtailment of production or wage-price spirals,” he warned. Can Point Out Dangers The major approach, he said, must be through reduced prices. Mr. Truman said removal of emergency price and wage controls had put the main responsibility for prices and wages on business, labor, farmers and consumers, “The government can point out dangers seen from the perspective of the whole economy,” he added, “but the correctives must largely be applied .by others.” Farmers were told they could expect drops from “last year’s exceptional farm prices” as world food supplies increase and more durable goods become available to compete for the consumer's dollars. Reviewing last year’s economic - situation, he said it was plain that business profits generally were “exceptional” although they were “extremely uneven as between industries.” He reported that, because of price rises, workers’ fallen despite irffcreases in "average hourly wages and take home pay since last July. He cited sharp price increases during the last half of 1946—15 per cent at retail and 24 per cent at wholesale.

Butler, Tri-State Get Surplus FWA Material

* Butler university and Tri-State college both will receive surplus equipment from the federal works agency. The FWA today approved the local school’s application for furniture and equipment to be used in science laboratories. The Angola institution had asked for material

».

tional facilities, aeronautical laboratory and library. Butler officials said no additional students could be accepted, however, as a result of receiving the surplus property, A total of 4007 now .is enrolled.

a TT — One Vessel Due,. One To Leave N. Y, Today

NEW YORK, Jan. 8 (U, P).—

‘Ship movements scheduled in New |

York harbor today: Fh Arriving—Marine ®Rerch, Genoa.

real earnings had (Loyal

Congress Urged to Increase Social Security Benefits

Truman Holds Higher Cost of Living Makes * Raise Necessary to Ease ‘Real Hardships’

WASHINGTON, Jan. 8 (U. P. | congress to increase social security | comer of higher living costs. He did not mention any specific

Truman Rejects Pump-Priming

Says New Deal Plan Not Fully Effective

WASHINGTON, Jan. 8°(U., P.).— President Truman today rejected two theories which once were tried as part of New "Deal cconomic

philosophy-—pump-priming and an economy of scarcity. He told congress in his economic report that “the long-range agricultural policy of\ the government should ‘be based upon the principle e encouragement of scarcity.” In thé early New Deal days, then Secretary of Agriculture Henry A. Wallace embarked on a program dalling for curtailed farm production.

Lists Reasons As for pump-priming through public works device

programs—a employed by the late President Roosevelt during. depression and recession years—Mr. Truman said that in recent years there has been “an overemphasis upon the prospects of stabilizing our whole economy through the bond use of public works.” Mr, Truman listed the following among reasons why public works, “cannot accomplish as much toward stabilization as some .have supposed”: ONE: In case of severe unem-

avoid supplementation by other means. TWO: In a period of mild recession, they can't be generated in time to be fully effective. THREE: Public works reserves built up for emergency use may be used after they are needed. Thus, they would have an inflationary, rather than a stabilizing, effect. FOUR: Even if advance preparations are made, there is bound to be a time lag between -calling the emergency program into operation and the employment of men on the Job. Chief Lesson Mr. Truman, saying these points have been “substantiated by experience,” declared that “the chief lesson to be learned is that no one device constitutes an adequate fighting apparatus against depression.” He said public works should not be regarded as the first and fore{most device to restore our whole

report that an increase is riecessary to alleviate “real hardship” which has been aggravated BY higher living costs,

Joverhaul of the social security laws,

tax curtail mass purchasing power

ployment, public works can't he | of the general budget. There-

|generated in sufficient volume to

|Fond' of Philip

) ~=President Truman y urged benefit payments immediately be-

figure. But he said in his economic

For long-range purposes, Mr. Truman also recommended a drastic

including & provision to finance part of the social security out of the general funds of the federal treasury. Recommendations He recommended that the social security laws to be revised to: ONE: Increase the amount and duration of unemployment benefits ~‘present unemployment reserve funds are ample to support such increases.” TWO: Include under unemployment compensation employees of all establishments, regardless of size, in industries not covered by the unemployment compensation tax act. THREE: Extend benefit of oldage and survivors’ insurance to occupational groups now excluded. FOUR: Provide sickness and dis-

of income and be able to have ready access to “essential preventive and curative medical services.” Employee, Employes, Financed In proposing that the federal government finance part of the social security system, Mr. ‘Truman noted that the system presently is financed by employee and employer contributions. : “We must recognize, however,” he said, “that the employees’ contribution and the employers’ payroll

and increase businessmen’s costs. “From an economic point of view, it ‘would be desirable to finance a part of the social security system

fore, 1 propose that the congress, in working out a system of financan expanded social security program, give full consideration to the economic as well as the social import of various methods of taxation for this purpose.”

Princess Is ‘Quite

LONDON, Jan. 8 (U. P).—Princess Elizabeth “really is quite fond of that young man"—Prince Philip of Greece—and “they do like seeing each other.” That was the word today from a responsible ‘ source with access ¢o Buckingham palace circles. However, the question of a formal proposal of marriage has not arisen, the informant said. Relatives of the princess were quoted as saying that the couple

economy when it sags. Rather, he said, an attempt should be made to stablize public works constriction according to long-term needs. |

{ ever, that this policy “by no means forestalls the expansion of public works as a sustaining factor if recessions or depressions should unfortunately develop despite our best efforts to avoid them.”

Wayne Fields Elected Glee Club President

glee club. Other officers are Grover Grabbe, vice president; Glen Goeke, secretary: Francis Cones, treasurer; Ly-

tarian,

MARRIAGE LICENSES E. Washing

rum, 216 Blackford. A. Casion, 1702 Brooks; Maggie Johnson, 1913 Boulevard pl.

Lynch, Washington, Ind. Catherine Gartin, 2318 Manlove.

Margaret Sallee, 2017 Lambert. Abraham Dale, 241 W, 32d; Grace Vestal, 241 W. 32d. Daniel Gleich, 1032 N. Lucille Beeker, 1025 N.

ant Run

Thompson, 1017 N. Clarence PF. Price, Terre Marie Richardson, Terre Michael wBivicls

Jane Chaney, Crawfordsville. John M. Shoemaker, 1184 8. Pennsylvania; Martha Lucille Price, 819 E. Wyoming. Robert P. Smith, 2266 Indianapolis; Esther Opal Smith, 445 W. 20th Emery A. Stephenson, 129 i anette:

1

Illinois; Alice Ventura Simcox, 2416 N. Guilford,

BIRTHS

Twins

Girls At, St. Francis—Howard, Lois Glidden; John, Gertrude Walker. ichard, Jean Stackhouse

gid, Jean Brown: Earl, Marian Scott; ward, Maxine Coll. A St. ‘Vineent's—Floyd delins Mec Quegor: Wally, Lucy LR er wards; Williant, Elizabeth Snyder; Nigel Tucker; Max, Emma Powers.

Leona MeClure,

Lola Turley, 2326%

Boys

mbolism =A At": Weancis—Nosl, Bdth Bradshaw: Dal- | RelA W Ey : at ony. imghon Vin

Nia Ale rte Harris; er, Ruth Smith,

Departing — Westerdam, _ Rotter. no Uline Baker; Homer, Wilma

City—Edward, i: Bower, Price. Minnie Anderson

Mr! Truman acknowledged, how- |

Wayne Pields has been elected as theater commander nor the president of the Sahara Grotto resignation of Secretary of State

{man Faulconer, sergeant-at-arms, land George Brunson, parliamen-|mander, always had been in “com-

IN INDIANAPOLIS

Robert R. Bridge, ‘Royal Center; Martha Weddle, 4 OW yrge Collins, 216 Blackford; “Patsy Mar-| ag Mot ho dist— Willie

Wayne O. Cheshire, Ladoga; Sadie B. Robert Osborn Cobb, 620 Blake; Nancy Edward Daily, 2401 Coyner; Ada| bert, Flora Willock; Leon, Ruth Gil-

LaSalle: Florence

Lagalle, John Wiliam Kistner, 263 8. Audubon DEATHS rd.; Loretta Kathryn’ Pacts, 6141 Pleas-

pkwy. Owen Walker Norris, a Bright; Louise faute: Frances

Haute.” ene Purcell, 3325 W. 10th; rie Clements, 1640 8. Dela-|Th

hypertension o Bare "J. Revell, 2855 N. "parker; Dor- | Charles Knotts, 73, at 3203 B. New York,

Alb othy Katherine Fleming, 1201 W. 27th, Ba Milton G. Sewell, Crawfordsville; Lola|™ png

Latta Agnes Stephens, 134 WV MaryCharley Francis VanBriggle in. 3314 N,

At St. Vincent’s—John, Wana Harden, girls. pipers

A Coleman—Harold, Helen Gelsendorfl; At Methodist —Bdward Gladys Good; Har- nary

Coronary Thomas, wh napp. "88, "at 3015 N. Meridian, Aa Home—Prancis, Emma. Byrnes, in Ma

Knox; Merrill, Esther Arthur, Son" E. | Leon a. Joseph Roth, 20, at Methodist, 11th; _ Charles, . Darnetta Durham, @40| peritonitis. Locke: Lo! E.| Anna Gartlein, ng, Whanington; ‘William, Bilecn Jones, 1618

were “good friends, and they like each other very much.” “After all, she is young and there {is no hurry. Also, she will be going off to South Africa shortly.”

Clay Assures Germans, ‘No Change in Policy’

STUTTGART, Jan, 8 (U. P)— Lt. Gen, Lucius D. Clay, deputy military governor of Germany, assured the German council of states today that neither his appointment

James ¥. Byrnes would mean a change in American occupation zone, policy. He said he and Gen. Joseph T. McNarney, outgoing theater com-

plete Sgeeent; i:

Sylvia Glover; Jerome, Isabel McElhaney; Beaumont, Marian Roberts; BuMadge Waggoner; Edward, ‘Mary

Marie Anderson; Dennis, Mary Creighton; Carl, Gene- ; Charles, Helen Rothwell; Harold, Dorothy - Porter; Oscar, Haze Robinson, James, Pauline Morris; Maurice, Maxine Acord; Jack, Virginia Selig, John, Marian At St, Vincent's—Thomas, AnD Lynch; Hu-

y. At Home—John, Georgia orts, at 2758 x homa; Bverett, Bertha Lyles, at 1413 088.

Bliza N. Hawkins, 87, at 48 N. Keystone,

pneumonia. Anns Witt, 75, at® 3123 Ruckle, artertosclerosis. Estella May Morton, 07, at 1414 Nordyke, smorthaje. , at 1445 ‘Broadway,

arteriosclerosis. rbara oMsslwood, 3 months, at Riley,

umon Gustave Nieman, 68, at 404 E. Louisiana, i| hypertensive heart. Florence M. Wolfe, 83, at 3726 Watson,

3 PRewmonia, Long, 87, at 1419 English, 3 ATteriosclerosts. Eva Haymaker, 42, at Long, diabetes ps

ellis elia Madden, 76,. at St. Vincent's, cere-

La x. jonn. 9; at 5232 Carroliton, adenocarcino Faye Hen nley, wm. Mat 1654 Talbott, cerebral e. 1 mora (9 months, at Bt. Vincent's, pne Rachel Ann Butterbaugh a MI ‘| “Broadway, arb ugh, ot Othar ar F. Buchanan, 70 70; at 115 5 TE adubon, Love W. Wie i 64, at 949 Ewing, coro-

throm Charles W, Tem mplston, ® 2 mx Del- » Wyman, emorrha Me- | Amanda yi an a: at 2 20 N. Harding,

Tosi oe Lanphere, 74, at Methpi iy

a A . _ | Henry K. Sunn, 62, at 2604 College,

e. \ Hazel Atle Uhl, 56, at 830 N. Parker,

al 604, Jefferson, -

. cent's rtens a at heart Leonard, car-

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STRALSS &

Com

ol pH

—and the next—and next— at a BIG Saving in Price! Zi

This is the traditional clearance—250 - : and some overcoats are priced fora TT speedy sell out! You get an overcoat to surround you with comfort—to give a well turned out—alert—outlook to the cold world—and to save you | | considerable money (folding money.) Tn ye

#

for this winter

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While there are Clearance groups— : » Aig ARE in various price brackets—there is

an especially strong clearance Sale group at ATE 5

$ 4 0 75

that includes some of America’ $ ‘most

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SECOND FLOOR