A conglomeration of top-drawer U.S. business thinkers last week addressed themselves to the state of U.S. business. Notable was the fact that in an unprecedented wave of speeches, the talk seemed to make unusually good sense. Three were particularly outstanding.
Fiscal Policy. In Manhattan, before the Steel Founders Society of America, Beardsley (pay-as-you-go) Ruml, R. H. Macy treasurer and New York Federal Reserve Bank chairman, discussed U.S. fiscal policy. Said he: fiscal policy is the one important area of Government activity about which businessand the U.S. as a wholecan logically be "apprehensive."...
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