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CHAMBER OF COMMERCE WASH ALBERT W. OF THE UNITED STATES INGTON HAWKES PRESIDENT November 1 5 , 1941. Honorable Marriner S. I c c l e s , Chairman, Board of Governors of the f e d e r a l Reserve System, Washington, D. 0. Dear Mr. I c c l e s : The referendum r e l a t i n g to controls of p r i c e s and wages, about which you wrote under date of October 25, closed l a s t night» I am at once sending you a copy of a b u l l e t i n in which the votes are shown» The number of organizations p a r t i c i p a t i n g and the number of votes cast are the largest we have had in almost ten years» being l a r g e r even than in a referendum taken back in the days of H.B.A., regarding questions about H.R.A. The widespread i n t e r e s t in controls over prices and wages was shown not only by the large number of votes that were cast* but also in the expressions of opinion f i l e d by organizations. These expressions of opinion w i l l be c a r e f u l l y summarized and printed in the pamphlet in which we shall set out the vote of each organi z a t i o n p a r t i c i p a t i n g in the referendum. Assuring you of my appreciation of the deep i n t e r e s t yot have taken, both in the questions which are involved and in, our referendum, I am, Sincere ^y - President. Business Organizations enclosure A Nationwide Federation of American CHAMBER O F COMMERCE OF NOVEMBER 15, 1941 UNITED THE STATES O F AMERICA SPECIAL BULLETIN WASHINGTON, D. C, PRELIMINARY CANVASS Ballots Cast in Referendum No. 75 Price-Control Legislation The balloting in this referendum closed at midnight on November 14, 1941. A preliminary canvass of the votes was immediately made, showing the results set out below. A detailed statement of the votes which were cast will later be issued. 1. Emergency price-control legislation of a different character should be substituted for H. R. 5479-S. 1810, now under consideration by Congress. 2140 33 Votes "Yes" Votes "No" 2. The substitute measure should provide that in the emergency, when government diminishes supplies needed for civilian purposes, there should be control of prices for the articles affected during the emergency. 2052 Votes "Yes" 102 Votes "No" 3. In such substitute measure Congress should provide for a standard of price such as could reasonably be expected to prevail under conditions of production existing at the time if the intervention of the government had not occurred. 1946J Votes "Yes" \11\ Votes "No" 4. Administration of price-control legislation should be placed by Congress in a body of five members appointed by the President and confirmed by the Senate according to the manner prescribed for all important officials. 2066J Votes "Yes" 100§ Votes "No" 5. The federal agency administering prices should be required always to enter into consultation with a representative committee of the industry concerned and selected by the industry. 2120 Votes "Yes" 53 Votes "No" 6. The substitute measure should subject the necessary elements in the cost of living to the same controls, and under the same conditions, as industrial materials and products. 2130| Votes "Yes" 35^ Votes "No" 7. The substitute measure should subject wage levels to the same principles of control as are recommended for prices. 2152 31 8. In any legislation for control of prices and wages, Congress should place definite time limitations, reserving to itself decision as to any extension. 2151 Votes "Yes" 23 Votes "No" Votes "Yes" Votes "No" The preliminary canvass indicates that the Chamber is committed in the affirmative upon all eight propositions. RALPH BRADFORD Secretary November 17, 1941. Mr. Albert ïv. Hawkes, President*, Chamber of Commerce of the United S t a t e s , Washington, D. C. Dear Mr. Hawkes: This i s t o thank you f o r your l e t t e r of November 15 enclosing the r e s u l t s of the preliminary convass on price control l e g i s l a t i o n . as I imagined i t would be, i t i s overwhelmingly against the measure t h a t I advocated, and in e f f e c t r a t i f i e s the adverse conclusions of the committee ?»hich drew the so-called questionnaire. I appreciate your courtesy in sending t h i s m a t e r i a l t o me. Sincerely yours, M. S. Eccles, Chairman. ET:b