Pres. Harry Truman lambasts steel industry for price increases

[Audio not synchronized] SOT Pres. Harry Truman, reading broadcast address into microphone while seated at desk: [regarding propaganda and facts about wages in the steel industry]; "Steel industry profits are now running at the rate of about $2-1/2 billion a year. The steel companies are now making a profit of about $19.50 on every ton of steel they produce. On top of that, they can get a price increase of close to $3 a ton under the Capehart Amendment to the price control law. They don't need this, but we are going to have to give it to them, because the Capehart Amendment to the law requires it . . . the steel companies are now saying they ought to have a price increase of $12 a ton, giving them a profit of $26 or $27 a ton. That's about the most outrageous thing I ever heard of. They not only want to raise their prices to cover any wage increase; they want to double their money on the deal"
[Audio not synchronized] SOT Pres. Harry Truman, reading broadcast address into microphone while seated at desk: [regarding propaganda and facts about wages in the steel industry]; "Steel industry profits are now running at the rate of about $2-1/2 billion a year. The steel companies are now making a profit of about $19.50 on every ton of steel they produce. On top of that, they can get a price increase of close to $3 a ton under the Capehart Amendment to the price control law. They don't need this, but we are going to have to give it to them, because the Capehart Amendment to the law requires it . . . the steel companies are now saying they ought to have a price increase of $12 a ton, giving them a profit of $26 or $27 a ton. That's about the most outrageous thing I ever heard of. They not only want to raise their prices to cover any wage increase; they want to double their money on the deal"
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DETAILS

Editorial #:
916491334
Collection:
Sherman Grinberg Library
Date created:
08 April, 1952
Upload date:
Licence type:
Rights-ready
Release info:
Not released. More information
Clip length:
00:02:04:04
Location:
Washington DC, United States
Mastered to:
QuickTime 10-bit ProRes 422 (HQ) HD 1920x1080 23.98p
Originally shot on:
35mm B/W Neg
Source:
Sherman Grinberg Library
Object name:
sr002883_01_02.mov