EXCHANGES: Flight to Reno

Once again Californians are about to vote solemnly—on November 7—on a screwball proposition lovingly called "ham-&-eggs"—pensions of $30 a week, payable every Thursday, to unemployed citizens over 50, to be financed in part by a tax of 3% on gross incomes (including securities sales) of over $3,000 a year.

Last week, while betters were offering

2½-to-1 that "ham-&-eggs" would be defeated and Marlene Dietrich, new U. S. citizen, was registering to cast her first vote (see cut), many a California businessman was wondering what he would do if $30-every-Thursday became a reality.

Beyond...

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