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...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!