CABINET MEETING, FRIDAY, JULY 19, 1946
NO AGENDA
In view of the fact that there was no agenda for the Cabinet meeting, several minor problems were discussed, including delays in getting action on appropriation bills for the Post Office Department and the Labor Department.
SECRETARY WALLACE
Referred to a chart which he handed to the President, reflecting that basic commodities prices are now in comparable position to period that followed last war. However, at no time in history has the ratio of acceleration of prices been greater than it has been during the past few weeks.
SECRETARY OF STATE BYRNES
Foreign needs for food will not make it possible to dump commodities on domestic market to depress prices. We must continue to ship food items to the distressed countries. This makes it increasingly important to retain controls until such time as the supplies approach the demands.