FISCAL: What Do You Think?

Citizens of Montclair, N. J. had a mighty pretty letter in their mail last week. The letter, from Mayor William E. Speers and Director of Revenue and Finance Bayard H. Faulkner, said that the town treasury had a surplus of half a million dollars. "What do you think?" said the letter, "would you rather reduce the town's debt another $100,000, leaving $400,000 to cut 1940 taxes—or cut 1940 taxes the full $500,000? The enclosed postcard is for your judgment. . . ." When Montclair's taxpayers had calmed down sufficiently to reply, they answered that they would take the...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!