The Bank for International Settlements in Basle, Switzerland has lost most of its large customers. Nations have about quit settling with one another, financially. But the bank does a lot of observing and thinking, and last week the most newsworthy observation of its annual report was a carefully documented conclusion that government spending cannot cure Depression. The bank's president, Johan Willem Beyen of The Netherlands, used the U. S. as a prime example of that policy's failure. Main thesis of the report, however, was not so much that U. S. spending since...
To continue reading:
or
Log-In
