Congressman Robert L. ("Muley") Doughton of North Carolina last week had lived to see a historic phenomenon in Washington. Up before Congress, in election year, was a hefty Federal tax bill. The proposed taxesan estimated $656,000,000 worthwere for National Defense. The press applauded, cried in effect: "Tax us more!" Congressmen bickered only over details, did not question the need for new taxes. Said Muley Doughton, explaining this miracle: "Everybody is so patriotic."
What made the taxes historic on a second count was that they represented the first real effort by the Roosevelt Administration to arrange the payment of a debt before the...