World Events

Abstract

Perhaps the most harassing among the many contradictions that bedevil mankind is the tendency of spending to exceed income. We see it in personal affairs. It prevails in public finance. During the first three months of 1959 we have watched and listened to Mayor Wagner, of the richest city in the world, Governor Rockefeller, of the richest state in North America, and President Eisenhower, of the richest nation on earth, demanding higher taxes and more borrowing to meet the insatiable demands of public spending.

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