FISCAL: Debt & Economy

Last week came the turn of Henry Morgenthau, gentleman farmer, now Secretary of the Treasury, to go up Capitol Hill to explain to an inquisitive if not skeptical Congress the Administration's money plans. Having already announced that the Administration seeks no new taxes (except on Government salaries and securities), Mr. Morgenthau had to get Congress:

1) To extend the President's power to fix the value of the dollar anywhere between 50¢ and 60¢ oldstyle (present value 59-06¢.

2) To extend the life of the $2,000,000,000 Exchange Stabilization Fund, created from the paper profit...

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