ECONOMICS: The U.S. Calls the Turn

The U.S. Congress had in its hands last week a form of world power which even Joe Stalin could not match. For Congress was about to settle some vital international matters, and settle them for good.

No. 1 was Bretton Woods, on which Congress opened hearings. By tacit consent Congress will decide the fate of the International Monetary Agreements. If the U.S. accepts them, other nations will fall in line; if it rejects them, they are dead.

No. 2 was U.S. tariff policy, an issue raised by the introduction of a bill to...

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