Public Policy: Piles & Politics

It was the way in which President Kennedy brought up the subject of stockpiling that sent a shudder last week through metal centers from the aluminum mills of California to the copper mines of the Congo. In harsher language than he usually uses at his press conferences, the President implied that the nation's 23-year-old war-emergency stockpiling program was chockablock with "mismanagement" and "unconscionable profits" and demanded a congressional investigation. On Wall Street, copper, lead, zinc and aluminum stocks softened, and futures in metals and rubber nosed down.

What "astonished" the President was...

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