New Year's Turkey

In a homey, handsome dining room at the Treasury Department, with a cheery fire on the hearth, hospitable Secretary Henry Morgenthau Jr. entertained guests at lunch: grey-haired Senator Walter F. George of Georgia, chairman of the Senate Finance Committee, and big, bald Representative Robert L. ("Muley") Doughton of North Carolina, chairman of the House Ways & Means Committee. They were talking taxes.

Last month, when Mr. Morgenthau asked Chairman George and Chairman Doughton to start work on a new tax bill for 1942 to raise another $4,800,000,0000, both gentlemen balked. But that was before the U.S. found itself at war. George...