To Congress, staggered by Secretary Morgenthau's demand for a $12,600,000,000 tax bill, last week went two Government officials proposing not only different taxes than the Treasury suggested, but a whole new theory of taxation. The men who made these new proposals were two of the Administration's fiscal bigshots: the Federal Reserve System's Chairman Marriner Eccles and Price Administrator Henderson.
The Treasury nad recommended new and higher surtaxes on personal and corporate incomes (TIME, May 5), higher gift and estate taxes, increased excises on many such commodities as cigarets, liquor, gasoline. On the last point Messrs. Eccles and Henderson plainly told openmouthed...
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