71. Value of production in major manufacturing industries, 1935 and 1937; estimated ad valorem tariff equivalents, 1937; and estimated tariff rate applied to value of production, 1937. 72. Distribution of agricultural employment by major farming areas, 73. Cotton: Estimated cost of production, by selected States and regions in 1939, and the estimated cost per pound of lint on a 10-year 78. Short-term loans to farmers held by selected lending agencies, 1930-41- 79. Loans to farmers' cooperative organizations held by selected lending 82. Average prices received by farmers for corn, cotton, wheat, for four selected periods, and parity prices calculated on the basis of different periods and methods as of September 15, 1941- 83. Prices received by farmers for sugarcane and sugar beets as percent of parity prices, and retail price of sugar in Denver, Detroit, and average for United States, September 1940 to September 1941. 85. Estimated proportions of all fishing vessels, of all vessel fishermen, and of the total value of the catch, of vessels using various modes 87. Canned salmon prices from 1914 to 41, based on index numbers of Bureau of Labor Statistics, United States Department of Labor.. 94. Manufacturing: Production, employment, wages, and prices 95. Strikes beginning in July 1941, by major issues involved, with cumu- 96. Workers involved and man-days idle, during strikes in June and July 1941, compared with total workers and available work.. 97. Results of strikes ending in the 7-month period, January to July 99. Remuneration of officers (highest, second, third) and total for all officers and directors, as reported for fiscal years ended April, 100. Remuneration data: Steel-assets over $100,000,000 each_ 101. Parity prices for sugar beets and Louisiana sugarcane.. 105. United States prices received by farmers, percentage of parity__ 106. United States index numbers of prices paid by farmers, interest, and PRICE-CONTROL BILL FRIDAY, SEPTEMBER 19, 1941 HOUSE OF REPRESENTATIVES, COMMITTEE ON BANKING AND CURRENCY, Washington, D. C. The committee met at 10 a. m., Hon. Henry B. Steagall (chairman) presiding. The members present were: Messrs. Steagall, Williams, Spence, Brown, Gore, Mills, Monroney, Lynch, Boggs, Hull, Crawford, Kean, Miss Sumner, Messrs. Smith, Kunkel, Rolph, and Dewey. The CHAIRMAN. The committee will be in order. I invited Mr. B. M. Baruch to appear before the committee and discuss this bill, and I am sure I do not need to introduce him to the members of the committee. He has had probably as wide experience in governmental activities along the line of this bill as any man in the Nation. He was Chairman of the War Industries Board during the first World War. I am sure the committee will be pleased to hear him. Mr. Baruch has a prepared statement which he would like to present without interruption and I know the members of the committee will defer to his wishes. At the conclusion of his prepared statement he will be glad, of course, to discuss the bill fully with any member of the committee. You may proceed, Mr. Baruch. STATEMENT OF B. M. BARUCH, NEW YORK, N. Y. I. INTRODUCTORY REMARKS Mr. BARUCH. Mr. Chairman and gentlemen of the committee, I appear here at your request and feel deeply honored. I am not in agreement with some aspects of the bill and intend to say so frankly. But to make my position plain, may I saw now that I am not only in agreement with the objective of the bill which is price control but I have been a crusader for that objective for 24 years. For reasons I shall state, I regard it as the greatest single necessity of our present crisis-I think we have to do it not only to win the war but also to win the peace and above all in both peace and war, to protect our people from unnecessary suffering and our American economic system from dissolution. This I have preached in season and out of season for more than 2 decades. I am here to be as helpful as I can. Before proceeding to a more general discussion and as a sort of index to my two main points of disagreement-and I think they are vital-they are these PRICE-CONTROL BILL FRIDAY, SEPTEMBER 19, 1941 HOUSE OF REPRESENTATIVES, COMMITTEE ON BANKING AND CURRENCY, Washington, D. C. The committee met at 10 a. m., Hon. Henry B. Steagall (chairman) presiding. The members present were: Messrs. Steagall, Williams, Spence, Brown, Gore, Mills, Monroney, Lynch, Boggs, Hull, Crawford, Kean, Miss Sumner, Messrs. Smith, Kunkel, Rolph, and Dewey. The CHAIRMAN. The committee will be in order. I invited Mr. B. M. Baruch to appear before the committee and discuss this bill, and I am sure I do not need to introduce him to the members of the committee. He has had probably as wide experience in governmental activities along the line of this bill as any man in the Nation. He was Chairman of the War Industries Board during the first World War. I am sure the committee will be pleased to hear him. Mr. Baruch has a prepared statement which he would like to present without interruption and I know the members of the committee will defer to his wishes. At the conclusion of his prepared statement he will be glad, of course, to discuss the bill fully with any member of the committee. You may proceed, Mr. Baruch. STATEMENT OF B. M. BARUCH, NEW YORK, N. Y. I. INTRODUCTORY REMARKS Mr. BARUCH. Mr. Chairman and gentlemen of the committee, I appear here at your request and feel deeply honored. I am not in agreement with some aspects of the bill and intend to say so frankly. But to make my position plain, may I saw now that I am not only in agreement with the objective of the bill which is price control but I have been a crusader for that objective for 24 years. For reasons I shall state, I regard it as the greatest single necessity of our present crisis-I think we have to do it not only to win the war but also to win the peace and above all in both peace and war, to protect our people from unnecessary suffering and our American economic system from dissolution. This I have preached in season and out of season for more than 2 decades. I am here to be as helpful as I can. Before proceeding to a more general discussion and as a sort of index to my two main points of disagreement-and I think they are vital-they are these |