Harry Truman actually said...
I am concerned, however, lest some shipowners who have already accepted price adjustments did so on the assumption that the cost basis of their vessels for tax purposes would be the original price reduced by the net amount of the adjustments under section 9(b), operating only as a pricing formula.
Context
Memorandum of Disapproval of Bill To Amend the Merchant Ship Sales Act of 1946
09/27/1950