Business: Managing the Debt

The Eisenhower Administration's request to remove the ceiling on interest rates on Government bonds ran into a Democratic stone wall last week. Out of House Speaker Sam Rayburn's office flowed the official party line: the proposal would not stand a chance in the House, even though it would enable the Treasury once more to sell long-term bonds. Many a Democrat fears that approval of the plan would cost him votes in 1960 because of the hardships that the Democrats say higher interest rates will impose on small borrowers.

In a hunt for alternatives, the House Ways & Means Committee called in Treasury...

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