STATE OF BUSINESS: Not Yet

One afternoon last week Secretary of the Treasury Morgenthau sat in bland conclave with the Press. Deluged with questions about how the U. S. dollar and U. S. economy were faring in the worst war scare since 1914, he finally remarked: "I think we are proving to the world that the U. S. is the financial centre of the world and we can resist the kind of nervousness which people who have money are feeling at this time."

With that remark Mr. Morgenthau hit two nails upon the head: 1) The nervousness of...

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