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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (July 2, 1952)
"PAGE eight HER ALP AND NEWS, KLAMATH FALLS. OREGON WKDNKSDAY. JULY 2. 1!).r2 Truman Scores Control Law VMHTHnTnW IA Prcmrient ! Truman laid Tuesday the new eco liomlo controls Jaw "weakens our ability to hold down prices and tabUlte our economy." In atatement, Truman in ef fect scolded Conaresa for uot glvlnj him the atronger powers he asked and lashed particularly at provisions limiting tne wane sta blllsatlon Boaid to advisory powers In the future. The change as to the wane board, Truman said, "destroys the exist ing system without providing any substitute. In this respect, he said "the Congress has opened a dangerous gap in the mobilisation program." Truman got out a 1200-word state ment of his views on the new law. But at no point did he mention . provision requesting mm to invoae tne. naii-Haniey aci in an cuou to end the steel strike. The new law contained for 10 months powers to euro wages, prices, and rents and to allocate scarce materials. But some of these powers are whittled down instead 01 sirenguv ned a Truman had asked. He also had requested a two vai extension of controls Instead of the 10 months Congress voted. Truman signed the Dill wonoay and it is now law as the old con trols law expired last midnight. Truman said if he had not signed the measure, "our powers to con tlnue the defense production pro gram and the stabilization pro gram would nave expirea. The President declared: "I asked the Congress to strengthen our stabilisation ma' cninery and remove some of the 'built-in' Inflationary features, like the Capehart amendment. But in stead the Congress has moved in the other direction." As a whole, he said the bill gives only very limited protection against inflation. He forecast: "If the Congress provides suffi cient funds for proper administra tion of this weakened act, and if we have no sudden worsening of the international crisis, and no panic buying, we may be fortunate enough to get through the next ten months without jwrimut riimtrr to our economy. But this act, never- ineiess, lorces us to take a serious gamble with inflation, and all of us should recognise that fact." Truman's statement made no ref erence to any possible further at tempts on his part to obtain the two-year extension and stronger controls he had sought. There nave been those who hava suggested that be call an extra session of Congress after the na ' tional political conventions to seek legislation on contrls and other matters denied him at the regular cession. The new law keeps the lid on prices and wages generally for the next in monins, untu April so, 1953. It continues authority for allocat ing scarce materials for a full year, until June 30, 1953. Federal rent controls will last three months, until Sept. 30, except in areas certified as critically in need of defense housing or those in which local authrities request their continuance. Non-critical areas now under rent control have a total population of about 3 million and include such cities as Chicago, Philadelphia and San Francisco. Dropped from price control are processed fruits and vegetables frozen, canned and so on. OPS officials complained this would bite into the housewife's food budget, much of which they said went for such items. Government curbs on consumer credit the installment plan for buying things like automobiles and refrigeratorsOdied with the old act Monday midnight. Real estate credit restrictions were relaxed, but officials an nounced there would be no im mediate change in regulation "X", which sets minimum cash down payments for borne purchases. ine federal Reserve Board and the Housing and Home Finance Agency, which administer real es tate controls, issued a joint state ment. They said the regulation "X" change lifting it when the annual rate of housing starts falls below 1,200,000, about 100,000 more than now may take at least five months to put into effect. Considerable procedure must first be followed. Betting Ban Petition Filed SALEM (ffl Completed Initia tive petitions to ban parimutuel betting on horse and dog races in Oregon were filed here Tuesday by the Oregon Council of Churches. Filing of the petitions means the measure will be on the November general election ballot. The sponsors said they had 35.7P2 certified signatures, or 9,500 more than were needed. The deadline for filing completed initiatives is Thursday. Only one other completed initiative has been filed so far. It was filed Monday, and would keep the state on stan dard time. Morgan To Go To Convention PORTLAND Wl Howard Mor gan of Monmouth, Democratic state chairman, will be (an alter nate delegate to the Democratic national convention. Terry Schrunk. chairman of the Oregon de'egation, named Morgan is his alternate Tuesday. Schrunk is sheriff of Multnomah County. The convention is to open July 21 at Chicago. GUERILLAS ELIMINATED KUALA LUMPUR, Malaya HI A Ooternment statement said Tues day tint 143 Communist led guer rillas were eliminated in Malaya last month, including 106 killed, 14 captured and 22 taken prisoner. BOBCO PAYING INC. Phone 8789 or Jayhowk Petroleum ot 6788 DRIVEWAYS PAVED or RESURFACED With Asphalt Black Top . F.H.A. TERMS PANCAKE FLOUR 4k SYRUP Vermont Mid pkg. 24-oi. bottle Bisquick . Large Pkg. P-Nut Butter " - 39' CATSUP " 14-ox. bottle JELLY Kerr's Ass t. 12-ox. tumbler OLIVES Libby's. 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