Money: Two-Way Ticket

In the midst of other crises, President Johnson took time last week to announce an encouraging development in a battle the U.S. clearly seems to be winning: its campaign to balance its foreign payments. Reports just received from 344 big U.S. companies, said the President, show that this year they intend to spend abroad $1.2 billion less than in 1964 as a result of the Government's plea for a cutback. That will further help what has already been a noticeable improvement. Government economists estimate that the overall payments deficit has dropped from $3.1 billion last year to an...