The Economy: With Baling Wire

No one knows better than President Johnson that his Administration's fight against inflation so far has been patchwork. Last week, announcing the latest in a series of anti-inflation moves, the President rather ruefully told newsmen: "As we say down on the farm, 'maybe we ought to try to get by with some baling wire, patch things up,' to get by during this particular period, when there is such pressure on our economy."

Pieces of the patchwork last week:

Bonds. Johnson disclosed Treasury plans to sell a new savings certificate to individuals. Treasury Secretary Henry Fowler said that the new certificate will...

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!