Line Held

Inflation, long out of the news, returned to the headlines. But it frightened no one. On the eve of the first anniversary of his "hold-the-line" order, Franklin Roosevelt read to his press conference a report from four of his economic high command.* Its gist:

"The task of stopping the rise in prices has thus far been carried out. . . . The cost of living, which before the hold-the-line order was rising 3/4% a month, has for a solid year been held without change of any consequence. . . .

"The nation's basic wage structure has remained substantially unchanged. . . . The level of basic factory wage rates has been raised less than 1 1/2-c- an hour by actions of the War Labor Board. Wages have been stabilized. . . .

"Stabilization has brought tangible--indeed bankable--benefits to all groups. Corporation profits, both before and after taxes, rose in 1943 even above the record-breaking levels of 1942. The net income of farm operators similarly moved up. . . . Average weekly earnings [of workers] have moved up to new high ground. . . ."

The report, taking the rosiest possible tone while sticking to Government-collected facts, was generally well received. But it apparently will have little effect on Congress, where efforts will be made in both houses to rewrite portions of the Price Control Act, including amendments to bar subsidies and to provide for direct court appeal from OPA rulings.

*Economic Stabilizer Fred Vinson, Price Boss Chester Bowles and , WFAdministrator Marvin Johnson, WLBoss William H. Davis.

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