Federal Service
President Franklin Roosevelt appointed Putnam to be deputy director of the Office of Contract Settlement of 1944. Established by the Contract Settlement Act (58 Stat. 651; July 1, 1944) and part of the Office of War Mobilization, Putnam helped settle claims arising from terminated war contracts during World War II. Putnam served in that capacity until the office was abolished by Executive Order 9809 on December 12, 1946.
In 1951, President Harry Truman appointed Putnam director of the Economic Stabilization Administration (ESA). After the outbreak of the Korean War, the U.S. Congress enacted the Defense Production Act. Title IV of the Act gave the president the authority to impose wage and price controls in progressive steps. The ESA was established on September 9, 1950, when Truman issued Executive Order 10161, which established the ESA and charged it with coordinating and supervising wage and price controls. After Congress amended the Defense Production Act in July 1951 to permit looser price controls, ESA Administrator Eric Johnston quit in frustration six weeks later. Putnam was named his replacement in November after Truman's first choices for the office refused to take the job.
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