BELGIUM: Two-Year Plan

With King Albert presiding, Belgium's Cabinet lately approved a two-year plan of national retrenchment. What they think of this plan sturdy Belgians showed last week by oversubscribing a one-billion-franc internal loan offered by the Government to the public at 5%. Capitalists to the core, thousands of Belgian petite bourgeoisie organized tiny pools, each pool buying one bond.

Success of the two-year plan is predicated on retrenchments all along the Government line. Leading the way as usual, beloved King Albert reduced his own civil list (royal wages) 15%, but insisted that the pay...

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