Just before Phase II clocked in on Nov. 14, President Nixon allowed that he expected a "bulge" in prices during its first days. The opening decisions of the Pay Board and Price Commission make disturbingly clear that Phase II already consists of a good many more bulges and bumps than smooth roads.
The unions' huffing and puffing has frightened the Pay Board's business members into seeking labor peace at a high price. They have approved a wage raise for coal miners nearly three times as high as Phase IIs 5.5% guideline, and most...