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o o FOR THE PRESS BSmiUkTE RELEASE OCTOBER 3, 1942 The President, l a s t night, immediately after signing the a n t i - i n f l a t i o n b i l l passed by the Congress yesterday, i n structed Price ^dministrator Henderson to fix rent ceilings throughout the entire United States in a l l areas, c i t y and r u r a l alike. A copy of t h i s l e t t e r to the Price Administrator is attached. He also issued instructions to the Price Administrator to place ceilings immediately upon a l l agricultural commodities which were exempt under the original Emergency Price Control Act but which are no longer exempt under the s t a t u t e passed yesterday. These commodities include chickens, eggs, cheese, b u t t e r , potatoes, and flour. k copy of the President's l e t t e r i s a t tached hereto. The President issued the following statement with reference to the s t a t u t e : "The Congress has done i t s p a r t in helping substantially to s t a b i l i z e the cost of l i v i n g . The new l e g i s l a t i o n removes the exemption of certain foods, agricultural commodities and related products from the price controls of the Emergency Price Control Act, with the r e s u l t that I have today taken action to s t a b i l i z e 90% of the country's food b i l l . I t leaves the parity principle unimpaired. I t reaffirms the powers of the executive over wages and s a l a r i e s . I t establishes a floor for wages and for farm prices. "I am certain that from now on this substantial s t a b i l i zation of the cost of l i v i n g w i l l a s s i s t greatly in bringing the war to a successful conclusion, will make the t r a n s i t i o n to peace conditions easier after the war, and w i l l receive the wholehearted approval of farmers, workers and housewives in every part of the country." Today the President signed an executive order relating to wages, s a l a r i e s , profits and farm p r i c e s . A copy of the executive order i s attached. The President today announced the appointment of Mr. Justice James F. Byrnes as the director of Economic s t a b i l i z a t i o n , Mr. Justice Byrnes is resigning from the bupreme Court immediately to accept t h i s position. The President i n announcing the appointment of Justice Byrnes said: "Justice Byrnes i s one of the foremost authorities in governmental administration i n the United States. He knows the economic problems of t h i s country whether they concern labor, the farmer, the consumer, the small r e t a i l s t o r e , or ihe manufacturer. I would never have asked him to resign from the Supreme Court were i t not for the fact that t h i s job i s one of the most important, positions in this country. I know the American people can be sure that i n keeping down thu cost of living h© will bp f a r to everyone. "This position c a l l s primarily for judicial consideration. The organization will therefore be small because the administrative action will be carried out by the existing agencies. ""Justice Byrnes' p a t r i o t i c action in accepting this appoint want^- d««*Mtw*R- the po?aj ae -anri oomniendatiori of all our citi— Z r-.n Q "
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