Document zvxrXGvrpoOzBKbQK2maa7v3

-~Ut LEAD INDUSTRIES ASSOCIATION 4*0 IKXIMOrOft AVIKUI NIW VOK IT, H. V, February 18, 1919 To ik'tixtri of the Le*d Industries Association! s u bj e c t i STirncoc Behais h x b e r is e s a .v d k in k s suBcommxe, caoan-EK a. p u b iic >x~ o s k . r . 976 amp n. b , 2031 A preliRinary drift, of ty rtateaent before the litres *nJ Uinlng Subcoacittee, Conrattte* on Public Lends, (touse of Representatives, on H. R, 976 and H, K, 2031 4 sent you on Febrv try If, A corrected draft of the testiaorgr, as pr*anted t< '1 \v, ;4 * enclose 1, Tory truly yours. Secretary. * I; l - \. i i r i- f r* i .-_ aVct*wtfwa- ** LEAD INPtC^RTS ASSOCIATION i UP >M6rOt AVlM^e ***W VO** tT, K V, M*iaw ^Roem iixsm riBgnx) ptrc^r. k--i-k-e--s---ju--r-a--k-----d-----s-u--s-c--a--a-s--ir-i-E--S--,--c--a-a--n--r-iE--E--;--C--H--J--V--U--IC----L-U--C--j S- ON K.ft. 976 **0 K.a. 20)1 . XASHiiorca, p. c.. f eb^u ar t is , 1919 Ky na&o 1* Robert tlndloy Zlegfeld* I ta t oining en gineer end aocnUry of tho Lead Industrie* Association, Mch h\? represented the 1* ad Blnlnj, melting and rtfir.lr.f, and mt u facturir^ Industrie* for noro than twenty year*. The Lead Industrie* Association desired to register it* tror^: opposition to H. E, 976 irJ R. R. 2031, principally on th ground that these Bills represent a complete departure froa the Banner in which peacetime mining ha* been practiced in tho United State* since- the Jtapublic an* founded. No other industry 1* provided with the assurance of * reasonable pro fit as these Bills conterplate. In voicing our opposition we are coepletely syapathetic with thn laudable objective of ttimlatlng coloration, productior. and conservation of strategic and critical ores, netals and minerals both for the national defense and a sound doocstio ecenonjr. But w can not *ubaerlbe to the thoory that b - - N 2390.01 -V- i( 1 S 3 ii i,1. LIA20445 *. subsidis-atler. will *oeo'wo s i-> d objective. W be | i H lieve that it rill-.no htrrrfiil to the country and tv. industry In th* long rw, Briofly, wo believe thati 1. Peace tic* suhuidj nticn of * large port of tho Boa-fcrrou* civing industry is. at,rsxifc.with, the free enter prise that ha# given u* tho greatest idling Industry la tho A world. It 1* fi step toward nationalisation of tho industry, aad rill eventually prove disastrous to tho future develop ment of tho mining industry end the country. 2* These Sills then# elves would bo impractical In operation, diacriainatory In application, and 4 needless expenditure of acre then 4 half billion doll4rs of taxpayers* l . 4 1 ~n : aaney. Oar reasons foilor rsaDocnoK h is d ec r eas ed t it h c c t sessions Ihe wartime PmtlxEs Price flan for copper, load and line res terminated on dune >D, 19L7, rith the president's reto of the Allen Bill rtilch rould hove extended the Plan for twe wore yers. A copy of the President's Soundly-conceived i i i veto message, which is in nony respects om wore applicable today. is appended. the record since then shows that a free market is al ready accomplishing lr. a cost efficient manner what it is pro i * i posed to try to accomplish by >> Hi'* ril>r;1 *-y i-^rsr.ev of success. Lrad air* production in the United State# in Decanher, 19b5, is estimated at 17,000 tons, the highest rate $ for ary svnth since early in 19U., cvepare.'* with as average Monthly re v cf }-roli.-Uo- >f >c,V<0 tons in the first six -v r "ifrt v iii nis''^iiialiriliwwiil'irinriiisr v n / Ll v -> month* of 19ii7 utahr pr.sium*. According to the u. :< mr au of Pine*, lead mine production in the Ura.t* .ti` ; ir> tht first #1* nuitha of which * .. t'i< J.;*l i |j i months in which prslums paid, wa; '?1,??0 ton*. This ct*?;*ra with 20,J31 tons in tho fir*t six tooth* of V?Ji whon no premiums were paid. It repre sent* an Increase of 7 p*r esnt, jjortover, the current cslimatod monthly rat* of production is 17 pur cunt creator thin in Juno, l?!i7, the l*st month In which premium* wore paid. Jhoj tho record clearly indicate* that there 1* no need to uss tho taxpayers* scr.ey to stl.-eulate the production of lead under tho free market conditions rivalling today. PhsauHS `iOT p p o j u j t t v e Furthermore, a study of tho operations of the wartime Premius Price Plan reveals that in a free market prealun* for marginal producers could result in orly negligible production increases and might even actually reduce production. In the wartime Plan 72 per cent of all the nines which received pre miums accounted for on'y 0.5 per cent of production. It is also probably true that if those mines had not received pre miums their labor would hav been employed at more productive mines and tho over-all production per man in the industry would have been higher, resulting in greater total production. TOO VJCH DISCRET7<y; FOR OKE KAK Tho Bill, H. R. 976, provide* for the establlahnent of a now Incentive Payments Division in the Interior tepartnent under tho administration of a Director. It only specific* in general terms to whan and under what conditions puynent* shall bo made. How much shall bo dispensed to copper, *ay, how much ifn-iiafc-ibs.:i*.iv.. u-.- \ V I \ to -; C * > * <* fu to '- t> .-pxhw of Ht4l ; lUrrtnil* and *. U,-< p*" '' totir*ly ' U. tV diet;* Sloe `.t *k us, the ISr' '' '-P, w*-: ' * Sj ' '.t-r.t * xild Ik . nal* wlthou' *ny Con-national ;n ."<>val, r>d to decide oho *hall receive pay ment* aril no* such. It St true that t-ei Eli- etwbilltn.1 ctruin ttuiat 4bovo wSach th Mrtctc.r nay not pay. But Uh<. aariata art not clearly eatabllahed.the wordin' ptruittlna aweral lot- rpr. ta- tlcr>*. Und*r our InU rprelation the llcl t* would be unuro- '*11? hlch, ebout iiV? per lb. for co;per, ?7.5f for tine, rvi iU-j/ht for l-ad, Sot the Director ay exceed even those 1 lei to with a;.;.-ovaf of lb- -unitlcn* Board. In the aba.nct of the Director, the KU provide* that hi* dutltn thill be performed !y an Aaaiatant Id rector, is*. Di rector 1* required to be aultahly qualified in idiir.lttrollve end ciriin; experience. Xo *uch qualifications ere required of the Assistant Director. 'lb beJlrv.. th*t vast pen^r or.r an entire S .dwatry should not be riven to any ono tin, peril cularly without nore clearly defining the Unit* of hi* po*er nd particularly when thit tin hold* *n appointive office not tub^ct to Cor^rtaslonal approval. Be could bo, and undoubtedly would tv, subjected to terrific presaun which c-ven the 4bl<*t and honest would find it difficult to resist, STCCrPTLrm The Bill provide* that "All additional ore*, eetals, and cir.ral* the production of which 1* wholly dependent upon production payaenta* tiwill be transferred to the national secur ity stockpile. 75* have already stated our belief that lit tit ad ditional p.oauctlon of lead. If any, can risult froe th> operation ;'**& * I | - r<* . * > & - 'M" 1'1 M d i tto a fa ffiilrtrtiif fci tr.s M m ** .**& . ?. LIA20448 r - ,'Aa>. - -5- <if tM* Set, Consequently we f*lx k v see hov ,tethplie C4D tarc-fll, Fur th<r*<'e, 1 d totaling corn tir>. i . ,- r ent of J-yuS doe-stie nine production it being Aequir- ? for *. stvtfcpjie lr. the current fiecAl y**r by wcluniary rron*twr*-o with producer*. In Addition, the Munition* floerd *lrtdy hA* the powtr to **V lcr j-Urn. contrAets with producer*, *t U>vw *rkt priora if occ-eSAAry, for nt*l for tfco stoclrvile. ir*i, it CAn, *nd do- s, go a brood for rw.t*l. Thv alii no place dofirv.s whet 1 c.*nt by "Addition*! or**, c-'Ull And ttir>r*l." Ihi* could be the c*u*e of Bueheon- fur lor, And di si/r*. enent, particularly in U.* c*s' of cii now producing *Meh *.l~ht subsequently ohtsln payrvnts under the Bill, It would o- Absolutely cssentisl to establish seem definite yardstick by which '`Addition*!* tonnifes could bo clearly Atvi unc<j-lvoc*lly **sus?d. Per exsnpl'-, % nine night h*>o produced 1,000 ton* of load lnl9i,7, 500 tons in 19i,6,*nd 750 ton* in 19u9 let. Ip slnlng lower fj-*d* oro, it night hAe rvcoirod piyaent# In 15u? 'thtl would it Addition*! tonnage be, or wojld there bo Any Additional tcn-VA^c? Or it it quite possible that by nlning lower grade c-r and obtaining prordun p^ynents, a wine could ulntAln its profits and yet produce less total bccjuSe the Bill requires lh*l payt^nt* bv n*do to guarantee a reasonable profit, Indwd, this would bu the soundest policy for a niru in; errtpsny to Adopt, Phcre would the country benefit fros the production of less petal At hifhor cost to the taxpayer*7 I ^e-AAfciU-ui*fcufcA* 7 i u ^ A A > ^ .AMirii-. , rti I WTC.Ai W .all i i --,*>>- ^W^SiS5IS*^--. us m%Ski!r! mJ<W.xAgv~V.l UAj^-s .-f*-, -& W'n )yj. , Jt& p 6V\ s*- .j <. r . v. !. * i/l'T.> X. `e ,f> )' lh4J ; t * Cr tif V/ ' -v get, 1 - i* -*v" tt.it tt,<- t), K 'jr. is of <U'!t , :t. 0* l<*e-if*l Surrey, Meh |vm had lone 4rl a*' f sfaepoiy experience do*ling with the A*rlc*n wining Industry, arv ecepount to hwx3le any Oovonv cental probU** relating to ninlng. C">.itiw of.h o t t>i v''.ion 1* an unnecessary txj*.now and would uniuljr eceplicato the t>_ .ra tions of Oovertteent and ef tho slrtlng industry, EtpLoamer: rtnriTS ISo Bill provides for Oov rrr*.nt4l grants to prolucer* for exploration work, WKllc it establish, s a li*it to uch grants for Rines in actual operation, i* leaves coepletoly to tho dis cretion of tho Director tho amount# paid and projects which shall receive grants In otv r cases. This places entirely too euch res ponsibility in the bards of cn Ban. Fu-therxsore, such grants carry no obligati or, on the part of tho recipient to uso thss ef ficiently. Certainly any Oovurmcntal grants for exploration work should provide for at least r;u*l financial participation by the recipient in order to assutv that tho sonoy will bo spent in the nost productive and efficient Bjirwr. CCGT T# entire cost of this progria would be a half Mil lion dollars for payesvnts, plus an unprtdictabl* aoount far ad. tin is trailvo and engineering expenses. It is difficult to jvsti- ty saddling the taxpayer* of this country ith such a Krden when tast em tals arc selling at prices high enough to assure profits to constant, efficient producers and when It is highly unlikely that tho huge expenditure* will result in any appreciable benefit to the country or its .security. -- rijfew'/'iSfe. -*'w -- , Lifc2045 V _ . It it SC. tlr- * CWii, fw >*d; that ./ :' r c > lorvde or- > r-* -rye j K mv 4 fr c- te- u! 1*5* *,, ' --'rif e*- <<* bv <losing r!<,-s, with i'v<,jf.t !* < a-sd flt-oding, *o>t o*jftpetnt ttinir^ engineers will dispute this stalescrii, It 1* rarely that an or* holy 1* completely lest. In the history Of tsinirg r.any nines ha'v closed and crsir. op-r.ad at icoryr-lc and tachnologic condition* chang'd, Under the lepelu* of u>lay's profitable price* cany cln- t arw being' reopened that have been shut down for yoa.-s, soce u long *a $0 to 75 7tir*. isuno p s o h t s The Bill provide* in Section ti Out production payttent* shall fc>. niic to Include a 'reasonable profit* to thj producer. *h*son*blc profit* 1* not deflvod hit one* 1`. has beers estab lished the CoveTns.nt will necessarily hv* to toatrol salaries, w*2*, shelter contracts, and other elexcnt* of cost in a oin- in* enterprise rocclvir.g subsidies. Otherwise the prodycr could easily card pulato or saddle his operations with wasteful or evon exhorbitant chargi*. *te know of no industry in the United States, laret, or snail, that is given an assurance ty the U, S. Oovvro- Bent of a r--A*onible profit, Ms Is an tpoe.Vnakin,* departure frees the historic relationship of Oovurwscnt to business in the United Stales, IXPU3 IRT A?D SCWSiTTOST *0 believe that subsidisation of rwtal nine production it rpposod by most of th. n-til ti-iiic industry, also b - lievc that oat Oovernr.. ntal ag.ncits dealtr-c wiU clr.lng and the national defense believe such legislation to be unnecessary and unworkable. I t t | ^ j j [ cv?u* <*b aafoeev -awu--v-SeiN-e '-4t&Xu ' # V.. *t LIA20451 :| III C'li'-r*!, tv '.<< e )<ctici>.e Ali> ei1 tf H.' 11 i?. t.4 *; i' r, v r, >,r< i r<-M.*`n olh-r <*!> f * r j object; f tv - '. 1*0 ...->' <t e. In h *K, -1^3* i-ji ` i m* *>* i * e v ` e. c. - 1 - wtio shall ric^ivt i! . i.jtf. v. , r-*aii > v b o re unlimited than lr. `'.'t. ' :',{-'!;i< of ilhO,'.for this purpcr-e If cntlr. ly at the di*c - on of t'if one r-r>, wh' b a y exceed the Halt* cfliMished ty the Bill at hi* on', free will. Ho nay also wit- >ld pavaunt* If, in hit opinion, t pro ducer sJii`- ore of a fride that is too high or too low In r na tion to othi r av*llibl* ore in the r.lnc, In oth .* wer-Ui, he en virtually dictate to a producer just how nis wining operation* hall be conducted. He would Also hive eontr'l ewer who * nine receiving subsidies uifht hire and how ruch th.y would be paid. He has other power* under the Act which, when *11 *r< conbdn-d, would give hin practically a life and death power owr hundred* of nines in this country, iiucisiamTio:; JUS. ?0}i dif tingulshe* between Very ssall producer* of copper, lead and line arid those who produce sore than )0C' tons of eotal a year. It fives preferred tr.atne-nt to theso snail proaucers and in addition snail 1. ad sines are accorded an extra 20 per c< nt subsidy not i njoyed hy snail producers of copper and iJr.c. *hy are not eopp-.r and line produc rs tr-at.ed the sane as load producers? Why should not a tine jroducirp, 325 tons of a,util be accorded thu sar* t.oatncnt as or.e produc ing 300 tons per year! 1 j I titUBn", i O v-t - A2045 2 r\ 4 - f-' H. h ,)) tr-i > .- < . in', ' f. f.f t jt'M'J., at.-'V. f,i r i* rs i -'nee. '.f* f t>4 t* ,u, >* ' - j* *rt ' >< Units >ifiin j 7 i-:,;., - t. 1.1 market cerJttjor* u.etv trt always certain * fit i'ii*.. i>vo. with th abe-iruiy high Units i '. I , th 'v mi t, unprofitable Rlr.ij. Hy Should U r - I-. 12 -. r '.mat son I- `-.iO e lad ti:.* that can produce pro fitably i< v-. I ir.it sot by the Csli, ->d ^f.e that can produce profitably t 1/2* f> r pound rjireT Xhy *r* not producer* of iron, coal and pc-1 re'c u r included 5n the Pi 21? All oi these featur. * print up th. diserirlnstory naturv Of the hill. COST The cost of incentive* authority by tMs Mil i* ilOO,000,000 for fiscal 19?0. This is only the beginning, The cost of *r, adxinlstr-tlvo arvd engineering staff large and etj-abl* enrug?-. to aitir.lsUr th- let with tv n a scrblance of efficiency sight be Cxtreecly large. That still is only th-- beginning. Contract* running a* ouch a* 15 year* are msthorised, and these ray be entered in to for a* ouch a* 7 year* after passage of the Bill. That Keans that contracts entered into under the Bill eight not expire for another 22 years, or in 1972. Other provisions of the Act would not expire for 10 years. Bo Unit is placed an the amount of in centive piymc-nt* after th.- first y-.ar and wording establishing the maximum payment* for each metal is suv'jeei to several interpreta tions. It 1* conceivable that the total cost of this measure could eventually reach cany billions of dollars, especially as this Mil 1* designed to subsidize producers it peak markets. c * <" f i ! i 1 2 I f -. LIA20453 - COWCU'M v In rone) i*lw, *. r< tt-r-'-' wr sv.-j.-a',, with the ebjeetlt * of th- bill. vw * . tlu. . op/st our sincere belief th*t IhuSc obj-tuve c a.i > t tv i'.Uii.i er.rough l h. operation of tt, fr- < 't.terprls syttut 11 -. . .t-elJi fjnvvrrr ut onercuc'rt' nl on Irvl.'`j-y, Sc t- H-v- th* this legislation xwW lead *o * case of red tape, discrlalnatioo, and Jncfficl- rw*/ without *hy t*lr< U< the count 't or national dgfi-fiSt. . -On the other hand, we arc cor.wi'-c-d that there Are way* in which thi Oo' nw> nt can help Industry to attain the `fcsir,d objectiv, s within Uv t-sla'illsb, 4 frar work of our free econoay. Perhaps the cost baric wi eff.ctlv, r.t-jj. the hoy. rr>- cent could lake woild be to rivl* th tax la-s to r.cor:ii noro fully the inherent risk of r.ining. If t> tax lews were 0 revised as to Jr.viU the inv* st-.-r.t of *i-ihr c,;Stl in Kinlng by pr<n'idiri such capitil lf. the it.,-cr,tlv. of a return cocrv.nsu.-aU with the risk, wi- bell-Ye that the Xs-, rlc.n rlnir^ Industry would r.spond with ever. ;riaur production and aero ixtn*ire exploration progress, In the eni thr Oov.-rrusent, in stead of spcndlry hunirvi-s of nlllions of dollars on pallia tives, would receive greater taxes fror; a profitable and healthier ninlng industry, "b, thcr- for-', respectfully urge the' Connittco to act unfavorably or, H.P. 976 and H. t.i'OJl and any elrdlar legislation providing production subsides for load nines. I i i i \ I M withholding amreva) of K. . x;l >r *t'.cif.; d-vt t, i pred < i -n ! cnvi, .r' *, i<- for - ! , v.<'? a ; j 5 S H- ' Jssoj :"*. t- * ti- ./ j>nvave I iw * *W* nfi'.ly ;* r * r -a l i u f; . < .., '.jer- atts-n In < feet opart - V- i.- ir ,..str.-- ii recti; eratwl and )U ralnt. tv in* i.ener,. lr.tei 'V o; * ptiV, ic This MSI would r---j u Im the R, ?. C. t... : .i.llr if- V> W.t Prewitt (.v- ..? vo suhsi ;lx high C">st j r . . ti-Mi >; cep;-- r, lead *!j air.e and wotu t prcvJ * rw nut ?! li-: t ' j . -stir .n- * production. piyrws.tn of .7.', a) !>-: authorizedfdr to. two-/?r period ending }), i/Vy, n t > cxc.ed i3',XO,100 of thin VMtl lv sur. Jr. tfisc'll yesr the lrtn.lu.-i Jrlc f.u * 1. i r.l 11 a* >1 oxjrlv In *.* w\r, ft os effective ir, stinuiat.i.g p ojucuo-s of nan-ferrous cot .) . for war purposes, *!lle c*iMrjjig price ceilings at pro-'.nr l--.~ lf, T*o years i>-a Jr. sirring r*U!-lie Lir td of ihe 7V'b Congr*'-,?, author izing c jr.ti u m:-- of these at. i ait. r ft ire su*"' f lies, I it .yd that them pir rr .nr lo reduc-j or iircunti..v.-J as rapidly in f. ir ibis S.-rv-V'T : j '*i . v^-n'..? *-?r j- e ro lorp.-; r.-cejST/ f ar war ;~->r; isos. With tr,- era.: of h. - till Mes a.nd l> orttr^i of prices, a'- *:t all Othr -' ir' ./ * :tri !./ (;- grass hid !co:, discontinue*., ho a Jesuit* rearat. is npj*r< v. for c. mi rating to ;! si dize the output of per, icti .v,t i.r.r; ir. i even less reason exists for aldlr.r to ra; Inst of subsidised orr.o Jiti'S, Contir-uof ;.ra'.'T.pirn would contribute v.jry littlo. If st all, to pr .auction of t.v. n'tol: In shortest supply. Since the reaoxnl of prlc.r c'Hirers, prices of .ili tljcso e. ttls hive risen sharpiy. Th-.- r.u'nct prices of copper nriJ ieni, the tj scarcest of these sr.'tairt, h iv- b.'t.n hiph ewajgh ir 'hi In. t six t. tilths so that only e 'O-fll jihie shnr > of tno total eut;ut has ! : ;n ciigUls for sutsiiJy iayr,sn*_n, tilth th ninor exception of pv er.ts for explo- ratiei. or.J dev^ lojc/ nt v?r*: thorufor-v c ontlnumc 1 af the prasent plsn could not mt .rial.y ir.cn.asj the sup{ ly of th .sa r.-tals. If the plan wuro rostor. ), the groat bulk of t!v subsidy ptyr.-mts, in fact. w>uld Conti:.uo t . rj for high-cost production of fine, th; supply of which is U coning r' latirsly crpl ;. Sinllsrly, the InJus- trlsl deciiif for rang in.'oo d-.-->g not ric-x Justify subsidy payvnt? to ake available a r'ic.tireiy ninor Ir.cr iv? In low-grale Joc.>-tic ore. Ever, if there wire sufficient Juatlflc.itlon for continuing to subsidise pr^-Juction of these wotols, t;.'. tlar. provided in t!a.i bill would to boo inflexible to neel present r.'< ds. Since it was sp.>eific*Ujr designed t oet rj.' Imo r.~eds the larjeot auounts of subsidies sortauthorised for production of xinc anu copper, tiw net..s then in bhortst supj,ly. C LIA20455 tf'-Sj- - - n9 H . . .-i'- / r lfai rr M .-I-. I . <! I * ; 1: t- V, !r t W*r t 'y ! f . i. , j ,, r ) p* . ; k . o'. ' ' * ' * < *, f ''1 J ' r- IV . -prvcr.t I . ; , o f: i .V .. I! ;r -- ' , , j9 V.-.it f. I ' l'.'V1 l.'Mjr irV 1 * lilt' ,< * -, ti ' -*. -*:y Jiacv - rei I -VM . 4 Jt . r* i.- J ! .. T< i,`S'< . . v ' 11 t lU frrv. pi* . l i. , , . ;s . j i . tv i"C.>in r f jtur** !t- r.;- ..ci.-s. H. ... 1' w j -j . i r' - . ''', 'v .j ,IOC 1* . bctn '4 t fire it y- .r v.-. : ' *-. I r - ...i , J ' ;v V. . i-lr* : - ' -. : -- * . . .j ..., J . .. Aceoriimy,: i. t . .t. :liv -.i . ' ... t out tiv* 1 i;-' -f i wl. I. t..~ .T-.: thor t^c rxpo.-.ii lure rvoifi" li. nt-. rtz :/ *> aiblti ti.vr.il exporvlituros 1: pe ir '` .y I *. i;. ? r .'ho- ..1 > ; : u'v ri* i-v. -o t *r.y *l;. . 1- i UI r r t. rvi:- J m :>`t ur,-..: lful of the Jiflorj* lous ii 'V -i-v .> 1 r..; try whir' 4f e tj'-u L v cypii'itl !. of **v- i r*r^'.- i rl - * i * . V rut til .\gri ->, Jvwvtr, iht * c.tnf.ot th' * :1'- * a ; r=v nt ; ^rt of our ..-c vrio-r.' It l' cU tr '-Mt l.'w u.iv>r i:. : y-> nt i s tS:r vlj'j jta- r.'.r <r.S : r. aro rcz:'.\r/ at tv*! ti" . of t.V 11 ' ' *tv .or r It ^'curv, c xr !*. nv io evoru roaliiy vn) r-vi* V. l-.v iwj.Mp lr. a jv-rio j f .i!'.v -.* io-n-nt vrj tu-ir. -- activity, fuel, v t S' ;r--s-. nt, twa at i: .* -tr,. r tir . iofV5C*tu -ntly, this s- :u t*1 t-.- t'r.- t-..jt lac for raki-i.' trvl ? U."vit i' ic post-war adjustsotst Kiuetr s. wvf.-A'!, Tt>: Whit !t1 It i f i