BATTLE OF INDOCHINA
After months of tortuous indecision, a French government was at action stations last week. The order: buoy up the nation's economy. With each succeeding day (including Sunday), the government sinks $6,000,000 deeper into the red. Millifranc notes are pouring from the government printing presses to float government payrolls, but soon the inflation must be plugged or the economy will be in danger of foundering.
With taxation at 33% of the gross national product (compared with 20% in the U.S.), a compensating increase in revenue is out of the question. What cuts...
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