THE TREASURY SQUEEZE
THE biggest demagogic campaign issue of 1960 revolves around the U.S. Treasury and the mandatory 4¼% interest ceiling on all Government bonds of five years or longer. Last year President Eisenhower asked Congress to remove the limitation, imposed in 1918, and Congress turned him down. Last week Ike asked again, and once more a Democratic Congress seems determined to make political capital out of an economic problem.
Every economist agrees that the U.S. Treasury is in a tough spot to refund Government issues that are constantly coming due. With top-grade corporate issues bringing more than 5%, the Treasury cannot...
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