Tougher Economic Controls Proposed 1
The Weather Light rain or (frizzle tonight, low in the 40s. Cloudv Tuesday with temneratureii in the 50s. Chance of precipitation 70 per cent tonight and 20 per cent Tuesday. Manchester—A City of Village Charm TWENTY-TWO PAGES PRICE: nFTEEN CENTS . MANCHESTER, CONN., MONDAY, MARCH 26, 1 9 7 3 - VOL. XCH, No. 148 Tougher Economic Controls Proposed 1 WASHINGTON (AP) - In addition, rents would be service and welfare programs, prices may result in federal ac Contending that President stabilized at Jan. 10 levels, sub but Proxmire predicted the tion aimed at making it more Nixon’s program of economic ject only t6 specific cost in cuts will be made instead in attractive for fanners to grow t - controls is impossibly weak. creases, and the president defense and foreign-aid spen more com and soybeans, crops House Banking Committee could order further rent rollbacks. ding. vital to production of meat and Chairman Wright Patman is in Under Phase 3 of Nixon’s He also proposed controls on milk. troducing a bill to stabilize economic program, which interest rates, even as more of —Sen. Herman Talmadge, rents apd freeze all prices and started in January, there are no the nation’s largest banks con- chairman of the Seate interest rates for 60 days. limits on rents or interest tined rolling back hikes in their Agriculture Committee, said in “ The bill is a recognition of rates; no firm guidelines for prime lending rates. creased production and more- the obvious; that Phase 3 isn’t price increases, and no man Chase ^ lA a tta n Bank, the- selective buying are keys to working and that immediate ac datory wage-increase limits on third largest, and Franklin combatting the high cost of tion is needed to halt the most of the economy.
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