Five years and fifteen billion dollars ago Franklin Roosevelt embarked on the policy of spending the Nation out of depression. To raise submerged industrial indices and put 12,000,000 men to work, the pump of national finance was primed with Government money. Spending theoreticians like the Federal Reserve's Marriner Eccles would have liked to see the full force of the spending concentrated on industry rather than scattered between producers and consumers and an important Eccles corollary would have been a temporary lifting of the tax burden to help business help itself (see p....
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