London's Financial Times gloomed, "soaking the rich again." But in fact Brit ain's first full peacetime budget, slanted slightly socialist, offered everybody a little something, sent industrial shares up a respectable 1% and Government securities to ten-year highs.
Labor's shy Chancellor of the Exchequer, Hugh Dalton, was happy about it.
For long months he had wrestled with the dilemma of controlling inflation with high taxes, spurring production with low taxes.
Every figure he set down depended on whether the U.S. loan would come through. But now he was sure he had the answers.
Now in April. For 2½ hours his...