Forced Loans

The first serious proposal for compulsory saving—a cross between taxation and borrowing as means of financing a war—was dumped last week into the lap of a Congress already laboring with a seven-billion-dollar tax program. Senator Prentiss M. Brown of Michigan introduced the first deferred-pay bill designed to take money away from war workers now and give it back to them in the post-war slump.

Brown proposed simply that all employes of the Government and all workers in war industries be given their overtime pay (and 5% of their regular pay if they...

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