Having strangled the plans of John Hanes and Henry Morgenthau to revise corporation taxes this year (TIME, May 22), Franklin Roosevelt last week executed a fast fadeaway which saved the faces (and possibly the resignations) of Messrs. Hanes and Morgenthau. The face-saving compromise (influenced in part by press and Congressional pressure) was effected at a White House luncheon topped off by peach shortcake. The President and Tax Revisionist Pat Harrison (who had huffily told Mr. Roosevelt he was going to get a new tax bill whether he liked it or not) were brought together by Jimmy Byrnes, the slickest...
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