Money: Spending Abroad, Lending at Home

Both in business and Government last week, money was very much on men's minds. Government policymakers were worried that businessmen are spending too much abroad, were also concerned about signs of tighter money and higher interest rates at home. Businessmen were increasingly disturbed by evidence that the Government—through pressure, persuasion and official guidelines—is intervening deeply in some private realms of the money market.

Reassurance Needed. Business plans this year to increase its overseas spending for plant and equipment by at least 20% (to $7.4 billion or more), which some take as proof that the Administration's vaguely worded appeal for "voluntary"...

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