NOVEMBER 23, 1943
NEW YORK, Monday—I want to say a little more to you about subsidies, because I firmly believe that the average housewife in this country has never quite understood what removing subsidies is going to mean in her daily shopping.
For a great many people the cost of living is measured by the cost of food. When people are making a general study, they take all kinds of items into consideration. If food goes up, people with small incomes are going to be very conscious of the increase in their cost of living. Here goes for some figures on items many of us buy daily.
If the subsidy program is destroyed in January:
Pork chops will go up 4½¢, from 38¢ to 42¢ per lb.
Chuck roast will go up 3½¢, from 29¢ to 32½¢ per lb.
Hamburger will go up 4¢, from 28½¢ to 32½¢ per lb.
Salt pork will go up 3¢ from 23¢ to 26¢ per lb.
Butter will go up 10¢ per lb.
Cheese will go up 8¢ per lb.
Milk will go up 1¢ per quart.
Bread will go up 1¢ per loaf.
Family flour will go up 7½¢ for every 10 lb. sack.
Many canned vegetables will go up too. Number two cans of corn, peas and green beans will go up from 14¢ and 15¢, which they now cost, to 16½¢.
This is only the beginning. If we could stop it here it would be simple, but taken all together, this will boost your food cost seven percent, and the whole cost of living about three percent; so wages will have to go up. That will increase the cost of production, and this round will go on and on and the inflation spiral will be well on its way.
I lived through the last war and the cost of living doubled. It happened once and it can happen again. Look at China today and remember Germany after the last war. Once inflation starts, money depreciates in value until it buys less and less.
If prices are doubled then pork chops will cost 76¢ a pound, instead of 38¢.
Milk will cost 30¢ a quart.
Butter will cost $1.00 a pound.
Bread will cost 18¢ a loaf.
The rest of the additions you can do for yourself.
Don't you think it is worthwhile telling your Representatives in Congress how you feel about this? I understand they think the householders are not interested.