COMBATTING INFLATION

Chronicle (Levin), 15 December 1947, Page 5

COMBATTING INFLATION

(N.Z.P.A.-

-Reuter

U.S. Pronosals Seek To Avoid Additional Controls

, Copyright)

Received Monday, 9.35 a.m. WASHINGTON, Dec. 14. A conference of Republican Senators adopted a ten-point programme to combat inflati^n without ereating additional controls, but promised that if voluntary action does liot work to consider authorising further Government controls. Although the conference approved roughiy half of President Truman's anti-inflation recommendatioris, it rejected his- request to impose rationing and price and wage controls. The main points of the programme which Senators will endeavour to pass at the current special session of Congress are: Firstly, the extension of export control for another year. Secondly, to restrict exports, particularly to countries which have not Suffered war devastation. Thirdly, to authorise the President to enter into temporary voluntary agreements with indusries to limit stock piling. Fourthly, to extend rent controls for another year. Fifthly, to discourage further increases in bank credit and a'ny undue increase in consumer credit. Other points call for the elimination of non-essential Government spending and for voluntary efforts by citizens to save food and money.