FISCAL: Amateur's Triumph

Texas' Wright Patman is sometimes slyly called "the leading economist of Texarkana" (pop. 25,000), his home town. No professional economist, Lawyer Patman, a champion of small business, nevertheless makes a gallant effort to fight his way through the jungles of Treasury short-term "paper" and Federal Reserve re-discount rates. Last week, Patman's critics adopted a more respectful attitude. Patman had just published the results (in two volumes totaling 1,302 pages) of a broad poll of experts on U.S. fiscal and monetary policy.

When Patman, as a member of the Joint Committee on the...

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