Memories of Rationing.

At the outset of the Korean War in 1950, Americans remembered well the rationing and the scarcity of consumer goods during World War II. Fearing a recurrence of these hardships, they began hoarding goods, which caused prices to increase. In an effort to halt inflation, President Harry S Truman established administrative agencies to control wages and prices. The program worked for awhile until the newly established Office of Price Stabilization recommended increases in wages for steelworkers but not in steel prices. In the administration's opinion, steel companies already enjoyed more-than-adequate profits due to the increased demand and production of steel induced by the Korean War. The steel companies did not agree and refused to give the workers raises.

Taking Over the Mills.

On 5 April 1952, at the height of the war, the steelworkers union threatened a nationwide strike...