National Affairs: Fiscal March

Secretary Mellon celebrated his 74th birthday last week by calling on his friend President Coolidge. Birthday festivities consisted of a handshake, laconic felicitations, a long conference on the tax-reduction situation. Leaving the White House, Secretary Mellon declined to divulge what he and the President had decided was to be the Treasury's specific recommendation to the Senate Finance Committee when the latter begins hearings on the House's tax bill next week. He said only that tax payments in the first quarter of 1928 seemed so far to justify the Treasury's original estimates of the...