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EMERGENCY PRICE CONTROL ACT

BEFORE THE

HEARINGS us. Congress. Senate COMMITTEE ON BANKING AND CURRENCY

UNITED STATES SENATE

SEVENTY-SEVENTH CONGRESS

FIRST SESSION

ON

H. R. 5990

AN ACT TO FURTHER THE NATIONAL DEFENSE AND SECURITY

BY CHECKING SPECULATIVE AND EXCESSIVE PRICE
RISES, PRICE DISLOCATIONS, AND INFLATIONARY

TENDENCIES, AND FOR OTHER PURPOSES

DECEMBER 9, 10, 11, 12, 15, 16, AND 17 1941

Printed for the use of the Committee on Banking and Currency

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COMMITTEE ON BANKING AND CURRENCY

ROBERT F. WAGNER, New York, Chairman CARTER GLASS, Virginia

CHARLES W. TOBEY, New Hampshire ALBEN W. BARKLEY, Kentucky

JOHN A. DANAHER, Connecticut JOHN H. BANKHEAD, Alabama

ROBERT A. TAFT, Ohio FRANCIS MALONEY, Connecticut

JOHN THOMAS, Idaho GEORGE L. RADCLIFFE, Maryland

JOSEPH H. BALL, Minnesota
PRENTISS M. BROWN, Michigan

HUGH A. BUTLER, Nebraska
JAMES H. HUGHES, Delaware
CLYDE L. HERRING, Iowa
WILLIAM H. SMATHERS, New Jersey
D. WORTH CLARK, Idaho
SHERIDAN DOWNEY, California
ABE MURDOCK, Utah
LLOYD SPENCER, Arkansas

PHILIP LEVY, Clerk
II

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CONTENTS

3

Statements of -

Pago

Anderson, Dr. Benjamin M., professor of economics, University of

California, Los Angeles, Calif..

466

Bland, Hon. Schuyler Otis, Representative from Virginia--

399
Brenckman, Fred, Washington representative, National Grange, Wash-
ington, D. C.---

342

Brody, Č. L., executive secretary, Michigan State Farm Bureau_- 450

Brookhart, Hon. Smith W., representing the Little Businessmen's

League of America, Washington, D. C----

255

Brown, Russell B., general counsel, Independent Petroleum Association

of America

493

Dallas, C. Donald, president, Revere Copper & Brass Co.; chairman,

price subcommittee of the national defense committee of the Na-

tional Association of Manufacturers_---

328

Ginsburg, David, general counsel, Office of Price Administration--- 68, 112,

144, 154, 174, 550

Gore, Hon. Albert Arnold, Representative from Tennessee-

314

Green, Perry L., representing the Ohio Farm Bureau..

454

Hardy, Dr. Charles O., Brookings Institution, Washington, D. C----- 378

Henderson, Leon, Administrator of the Office of Price Administration,

Washington, D. C-------

15, 51, 125, 153

Hetzel, Ralph, director of the economic division, Congress of Indus-
trial Organizations---

285
Holman, Charles, secretary, National Cooperative Milk Producers'
Federation, Washington, D. C-

348

Hoover, Hon. Herbert, Palo Alto, Calif.

409

Johnston, Clem D., vice president of the Chamber of Commerce of the

United States, Roanoke, Va---

277

Jones, Rowland," Jr., Washington 'representative of National Associa-
tion of Retail Druggists, Washington, D. C-----

427

Lindner, Tom, commissioner of agriculture, Atlanta, Ga---

307

Mattei, Albert C., president, Honolulu Oil Corporation of San Fran-

cisco

369

Moore, Ralph W., member, executive committee, Texas State Grange,

Granger, Tex---

395

Nystrom, Dr. Paul H., professor of marketing, Columbia University,
and president, Limited Price Variety Stores Association---

537

O'Neal, Edward A., president of the American Farm Bureau Fed-

eration

429

Patman, Hon. Wright, Representative from Texas.

373

Randolph, Walter L., president, Alabama Farm Bureau Federation--- 449

Rice, Edwin L., Washington, D. C---

303

Sheets, Dr. E. W., secretary, United States Live Stock Association,

Seward, Nebr---

506

Thomas, Hon. Elmer, United States Senator from Oklahoma---

454
Turner, P. C., president of the Maryland Farm Bureau, Parkton, Md-- 493
Wingate, H. L., representing the Georgia Farm Bureau_

451

EXHIBITS

1
7

Copy of bill, H. R. 5990_.
Copy of amendment by Senator Taft to H. R. 5990_.
Letter from Senator Danaher transmitting a plan for the control of rents

by Richard F. Jones, Jr., 49 Pearl Street, Hartford, Conn.-

48

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