All during the presidential campaign, the Democratic Party had paraded its poverty. But last week, the 1948 financial statements of the two major parties, on file with Congress, showed the Democrats were in the black, the Republicans in the red. Obviously there was nothing like a victory to stimulate the check-writing muscles: the Democratic National Committee had collected $2,308,211, and had $51,432 left in the till. The Republican National Committee, which spent $2,736,334, was $228,938 in the hole.

After the election, Democratic Johnny-come-latelys fell over one another in a frantic burst of...

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