THE GOVERNMENT: In Reserve

In anticipation of Secretary of Commerce Harry Hopkins' maiden speech to U. S. Business (see p.11) the New York stockmarket last week popped out of its rut. More significant was the rise in stock prices morning after the appeasement speech—indicating that Wall Street at least was impressed. So was business generally. Although the New York Sun indulged in a Tory sniff ("Honeyed words, meaning little"), most press and business comments took the charitable point of view that Secretary Hopkins really meant what he said.

Settlement of the TVA dispute three weeks ago...

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