CABINET: Perfect Crisis

Washington is a 9 o'clock town. Lights that burn late mean not hilarity, but grim business. Last week significant night lights glowed in the two huge, forbidding grey piles that flank the trim beauty of the White House—the Treasury on the East, the State Department on the West.

In the Treasury sat ruddy John Wesley Hanes, Under Secretary, brooding over the dropping British pound, the effect of a war on U. S. money, the certain crashing raid by foreign security holders on the "thin" market of the New York Stock Exchange. Hanes, a...

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