Word: governmental
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Dates: during 1940-1949
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A Ready Answer. In three days of speeches and group discussions there was plenty of doing. Secretary of Defense Louis A. Johnson had a few encouraging words for N.A.M.'s consistent plea for economy in government. Said he: "The $15 billion budget of 1949-50 for our department will...
Then Brookings Institution's president, Dr. Harold G. Moulton, pointed up the responsibilities of businessmen and their government.
As for government: "The American economy is not ... strong enough at present to carry the . . . mounting tax load . . . The continuance of fiscal uncertainty and instability will . . . undermine the system of free enterprise, by killing the incentives to take the risks essential to a dynamic, expanding economy."
Another monument to the strange economics of the Government's price-support program (see NATIONAL AFFAIRS) was on view last week. It consisted of 4,000 tons of cottonseed, piled high on the concrete tennis courts of a former naval air station in Oklahoma City. Bought and paid for...
But cottonseed producers were happy. Southern Congressmen had pressured CCC to buy the seed from farmers at a support price of $46.50 a ton, higher than the local open-market price of $45 and under. Producers were, of course, the only ones happy. Processors, who turn the seed into cottonseed...