Morgenthau Takes Round One

Mager, Harold
November 1942
New Republic;11/23/42, Vol. 107 Issue 21, p669
Focuses on the financial policy adopted by Henry Morgenthau, the U.S. secretary of the Treasury, and its implications in the U.S. Views that the Treasury took the measure of bankers in a behind-the-scene battle pregnant with meaning for U.S. people; Plan of bankers to repeat the performance of the First World War; Provision of low interest on Treasury Notes being implemented by Morgenthau; Necessity to solve the problem of arrangement of the money during the World War II; Opinion that reliance for the money on banks will increase prices rather than production; Analysis of income payments and personal taxes paid directly by individuals; Suggestion for increasing voluntary savings or compulsory saving in order to meet requirement of the money; Advantage of the proposal to adopt the spending tax to solve the financial problem in the country.


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