Business: A Jarring Note

Meeting in Manhattan last week, 2,000 delegates to the 64th Congress of the National Association of Manufacturers were fully prepared, as usual, for a series of speeches attacking high taxes. At the opening session they were jarred out of position by IBM President Thomas J. Watson Jr. He told them flatly that high taxes are essential in the struggle with Russia for world leadership.

"We must realize," said Watson, "that the Communists are fully committed to the contest for the underdeveloped nations, while at times it appears that we haven't really decided whether...