TREASURY: Return to Grief

Last week Henry Morgenthau Jr. returned from a three-week visit to London where he had 1) received a feeler on becoming world statesman of Zionism, 2) talked long and seriously with British Treasury officials.

Subject of the talks was not hard to guess. Even during Morgenthau's short absence the home-front war against inflation has taken a turn for the worse. In Washington men knew that more than one price ceiling was cracking, that a vicious retail boom is on. Federal Reserve authorities gloomed that unless the Treasury can put its finances in order the U.S. will face a real bust-up.

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