THE NATION: Down from the Mount

The big headline news of the week was that a steel strike had been postponed—if not averted entirely. For an economy which could stand no rocking of the boat, the bigger news was that the President's three-man fact-finding committee had come out decisively against a fourth-round wage increase.

In arriving at its decision, the board had struck a compromise solution. It recommended pensions and social insurance for workers, to be financed by the steel industry.

Before making its evenhanded report, the board had taken a sweeping view of the whole U.S. economy. It came down from the mount with a warning to...

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