Nation: Big First Step

In the fight against urban slums, one huge reservoir of money and talent—the business community—has been largely overlooked. Now, with a powerful economy mood in Washington blocking any large new federal programs, urban spokesmen, both in Congress and the Johnson Administration, are looking for ways to lure private industry into the ghettos. Business, in turn, seems to be awakening to its opportunities as well as its responsibilities in the cities. Last week, as proof, the nation's life insurance industry pledged to invest $1 billion in the slums.

Initially, most of the money would go into housing, one of the most acute needs....

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