CABINET MEETING, MAY 18, 1951
Snyder absent
Donaldson absent
Foley for Treasury
Burke for PMG
COL CURTIS
Briefed Cabinet on Korea.
V.P.
Grain to India has been decided on basis of loan and not 50 - 50 frant-loan as proposed by administration.
ACHESON
4 Power talks in Paris are still bogged down. Iranian situation is still tense but British are coming around to making gesture which may save face for Iranian Prime Minister.
FOLEY
Ways and Means Committee will probably report tax bill by first of the month.
TOBIN
There are more people employed in April than in the history of the Nation.
WILSON
Goods are now backing up in many lines - including refrigerators, television sets and other items. This has stemmed price rises and manufacturers, distributors and dealers are worried about the obvious boycott that is going on. This will cause unemployment for period when industry is tooling up for defense production.
TOBIN
Thinks this will be resolved in about 3 months when we will start getting into new production.
BRANNAN
When people back up on hard and soft goods they increase purchases of food. Restaurant sales are now booming.
THE PRESIDENT
C.I.A. reports that there is a great deal of unrest in Russian satellite countries.
11:50