A super-government of businessmen to rescue Chicago from its mire of municipal debt came a step closer last week with the selection of an advisory commission of 27 bankers, lawyers, merchants to serve as experts in this crisis. The movement toward such an organization of potent citizens has been taking shape for the last six months (TIME, Jan. 21).
Last week Chicago officials admitted that the city faced bankruptcy, that it had borrowed up to the legal limit on anticipated revenue, that only a Businessman's Commission could prevent financial disaster. Taxes were far behind because of assessments...
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