davidaulloa/AmericanStories huggingface dataset:
Imperial Valley press., 1935-07-16
TAX RATE REACHES NEW HIGH

MANCHESTER. N. H., U.P)-This
eitys tax rate for 1885 is the high
est since Civil war days. The rate
is $32 per $1,000, an increase Of
$3.50 over that of a year ago.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
Reprinted From Late Times Yesterday
DAILY BOND INDEX
u. s. GOVERNMENT BONDS
(By Abbott. Proctor 81 Painel
Treasurys
Home Owners Lean Corr
Federal Farm Mortgage Corp.

IS. 1862 .................. 1OO.24 1902
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
BUDGET REDUCTION
ESTIMATES STUDIED
Morgenthau, Bell Confer
With Roosevelt.
BIZ Tniten Press


WASHINGTON, Nov. 15.-Study
of plans for reduction in the 1897
budget estimates continued today
as result of further conferences
at the White House.
Secretary of Treasury Henry Nor
genthau Jr. and Acting Budget Di-
rector Daniel Bell conferred with
the President again yesterday in
line with Mr.. Roosevelt's indications
that there would be strong en-
phasis on economy.
Both the White House and the
Treasury however, emphasized that
there was nothing definite to re-
port as yet and deprecated reports
of decision of huge Slashes.
White House Secretary Stephen T.
Early explained that Mr.. Roosevelt
himself from time to time has
pointed out that nothing definite on
the budget will be known until he
gets ready to send it to Congress
early in January and that present
reports are merely guesses.
AS an indication of the secrecy
surrounding the compilation of
budget figures it was recalled that
at the conclusion of each White
House discussion of the matter Sec
rotary Morgenthau and Bell had
studiously avoided any comment
except to say that progress was be-
ing made,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
On Commission ROlU

Quotations below subject to change are
average wholesale prices being offered to
buyers by local commission dealers:
Fruit--Cranberries, early blacks. 2s-lb.
box; 81 Pears-Michigan Bartletts
Cantaloupe-California Honey DewS. s225
Cssahas,, SAYS; Persians, .s225. Bananas
Jonathans. $1.2s@Is5 sa npPieSI Ramsos
81; Delicious, 81 so; Weslthys 81: Grimes
Golden, S135. Lemons-Sunkist. 36os s.
Grspefruit-Texas. Gas to 70s. s375
Florida Seedless sS.75 Limes-Mexican a
dred. IS.
vegetables-Beans. green, round string
less bu:,. s225. Beets-Home grown, doz.,
zoe. Cabbage-Northern Danish 50-lb. bag
SSc Carrots-Home grown, 35c; new bulk
half bu., Soc Cauihower-Michigan
crate. 81 so; Long Island, large crate. 81 So
Celery-Michigan. washed and trimmed,
extra large. .45c; jumbo, doz., 45c. Gu
Se1um'eer,S,mhothouse, ? doz. box, s2.a5.
berg, California, best, IS; home grown leaf
15-lb. basket. 81 10. Endive-Ohio basket
45c. Mangoes-California grown. crate.
So 5oQ&75; small basket, 40c Mint-Doz.,
SOC Mqstard-Home grown, bu., soc.
indiana yellow lC-lb. bag, zoe; 'a Western tern
Spanish. So-lb. bag s1.4O Parsley-Home
grown, doz., 35c Peas-Telephone, ham,
pers s3. Potatoes-Round Cobhlers. 100
ID. bag. 81 IS; Michigan Round White. 100
10. bag. $3.50. Early Ohios, bu.. 81 S.
Idaho Russets, s24o. Sweet potatoes--,In-
buttons. dog. baskets. .45c. Sage--DoT ;,
Blu. Use TurnipS-New California, re-
packed. l0-lb. carton. Sl.25
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
SWINE VALUES
AGAIN ADVANCE
Prices Move 5 to &c Gents
Higher; Cattle, VeaIs
Hold Steady.
Although no change was shown in

Although no change was shown in
the number Of receipts, porker
prices continued to strengthen at
the local stockyards today, moving
5 TO 20 cents. The major part of
the increase was limited to the
lightweight division.
Trading was more active than in
recent sessions, and a fairly strong
demand prevailed in the various
classes. Receipts we're estimated at
1000, the same as yesterdays figure.
Holdovers numbered 161. The top
price for good and choice grades
moved up to 1910.
The bulk of 100 to $50 pounds,
sold at 1925 to $9.45. In the light
weight division. slaughter pigs
from 100 to 100 pounds, brought 50
to $3.50. Good classes Of packing
sows were salable at SITS to $3.50
With the total supply consisting
largely of cows, low grade steers and
heifers, the cattle market was dull
and unchanged in early trading.
Steers and heifers, mostly in small
lots, held under $3.50, while beef
cows sold from $4.25 to Sc. Bulls
brought $425 to Sc. Receipts num-
bered 300.
Vealers again held stationary,
selling at $1,000 to $11. Receipts
we're 300 Lambs also we're steady
at yesterdays best prices. The bulk
of good and choice eve and wether
lambs held at $40 to $1075. Fed
western grades sold downward from
$1,000, while slaughter sheep caShed
in at So to IS. Receipts were 1900
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
$1,000 OFFERED FOR
BABY BOND POSTER
Treasury Starts Contest to Boost
Sale of u. S. Issues.
By United Press

Sdlc Vi y. .. lSSueS.
By United Press
WASHINGTON, Nov. 10. - The
Federal Treasury offered $1,000 in
cash prizes recently in a nation
wide "baby bond" poster advertis-
ing contest.
Contestants submitting the best
poster prompting purchase of the
bonds will receive $500. The remain
der of the cash will be distributed
according to recommendations of a
body Of Treasury officials.
'The Treasury Department" the
contest rules say, desires first
and last an imaginative, lucid, tell
ing design calculated to increase the
sale of bonds and the saving of
money.
Subject matter in general may
be regarded as any pictorial idea
calculated to stimulate the pur-
chase of United States Saving
Bonds"
The poster contest is the latest
of a series of government efforts
to stimulate sale of it's baby bonds. :"
An advertising campaign has been
started to promote the sale of the
bonds for use as Christmas gifts
Previously the Treasury flooded
the country with posters, order
blanks, booklets and prospectuses to
spur the sale of the securities.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
INVESTIGATION
OF new HAVEN
ROAD ORDERED
|. c. c. Starts Inquiry Of
Bankrupt Carrier; Loan
Refused.
By Unjted Press

By United Press
WASHINGTON, Nov. 15.-The
Interstate Commerce Commission
has ordered investigation into man
agement of the New York, New
Haven 81 Hartford Railroad Co.,
which has borrowed S14,470,000 from
government agencies.
Application of the railroad, now
in bankruptcy, for another IS, 000,0 900
RFC loan, was denied by the COM
mission on Oct. %.
The railroad has borrowed ST.
100000 from the RIG; S6,770,-
900 on a s7,100,0O0 approved loan
from the Federal Emergency Relief
Administration for public works and
S3,428,225 from the Railroad Credit
Corp.
Needs Money for Taxes
The New York, New Haven &
Hartford listed on Aug. 81 loans and
bills payable of S25, 7O3 ,226, of which
$l6,275,000 was outstanding bank
loans. In applying for the s5,OOO,-
900 loan, the road said it was
unable to obtain the desired funds
from any source other than the
Finance Corporation"
The money was needed, the appli-
cation said, for payment of S5,009,-
100 in taxes between Oct. 10 and
Jan. l. 1t listed total investment"
Of the road as $685., 564,972.
The commission initiated on its
own motion the inquiry into and
the history, management,
financial and other operations &C
counts, expenditures of carrier funds
and other than its common carrier
operations and practices to de-
termine the manner and method in
which the business of said company
has been conducted with view of
making a report"
The commission did not disclose
the reason for the investigation. A
Senate committee, however has be-
gun investigation into methods of
railroad financing and management.
No date was set for the hearing
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
SEEK STEEL AGREEMENT
Representatives of Six Countries
Meet for Production Control.
By United Press

VIENNA. Nov. 15.-Representa-
tives of French. German, Belgian,
Polish, CZechoslovakian and Austrian
steel industries have assembled here
to discuss formation of a tube steel
cartel, it was announced today.
It was reported that the cartel
would seek basis of harmonizing
continental steel production with
that Of Great Britain and the
United States.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
NET EARNINGS Squirt
Life Savers Corp. Reports Best
Income Since 1882.
! m Is Special


NEW YORK, Nov 15.-The Life
Savers Corp, makers of candy minis
and gum, today reported the best
earnings during the third quarter
this year for any period since 1892
The company earned S270.719 after
all charges and taxes, equivalent to
II cents a share.
This compares with s253,731, or u
cents, in the preceding quarter, and
s21S534, or 50 cents share, in the
September quarter last year, an in
crease of "a per cent; Earnings for
the first nine months this year were.
equivalent to sl95 share, compared
with S1.75 year ago.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
PROTEST LOWER TARIFF
Live Stock Association Lodges Com
plant With Roosevelt.
By United Press

BY United Press
KANSAS CITY, Nov. 15.-Live-
stock producers today sought the
help of President Roosevelt to pre-
vent lowering of tariffs on livestock
importations under the recent Ca
madam tariff agreement.
In telegram to Mr.. Roosevelt,
D. M. Hildehrand, president, and
Glenn T. Stebbins. secretary, of the
United States Live Stock Associa-
ton, which has membership in AZ
states, predicted the present eco
nomic status of livestock producers
would be jeopardized if the tariff
were lowered on Canadian livestock
,inportationS<
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
INTEREST TO BE PAID
Depositors of Closed Bank 20 Re-
ceive 6 Per Cent.

MARION, Ind, Nov. Is. - De-
positors of the old First National
Bank here, whose funds were tied
up by the banking moratorium in
1888, will receive 6 per cent inter
est on their claims, it was an
nounced today.
A so per cent assessment has been
levied by the controller of the cur
rency against the banks share
holders to raise an estimated
S165,000 needed to meet the interest
charges. Depositors already have
received 81 per cent of their de-
posits.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
Busigrabhs

The rise in wholesale commodities
halted in October. The Department
of Labor index dropped slightly
during the month. The largest price
declines were in farm products and
foods, with a slight decline in build
ing materials. HiGes and leather
products. textiles and chemicals and
drugs increased in price. Whole
sale prices are now per cent high
er than a year ago, but about 20 per
cent below the 1925 average.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
GLIDDEN SALES GAIN
Ru Times Specinl

CLEVELAND, Nov. 15.-Sales of
the Glidden Co. during October to-
tailed S4,395, 78l, against s3,087,315 in
the same month year ago, an in
crease of 42.3 per cent. according
to Adrian D. Joyce, president. To-
tai sales for the month were las
per cent above September.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
PRODUCE PRICES
SHOW INCREASE
Current CarIot Shipments
10 Per Cent Lower Than
Year Ago.
Times Special

Times Special
WASHINGTON, Nov. 15.-With
demand active and cooler weather
nearing, produce prices in the
Midwestern district moved slightly
higher this week, according to a
report released today by the De-
partment of Agriculture.
Potatoes and onions led the ad-
vance, which extended to practically
all divisions. Shipments decreased
slowly due to seasonal falling off in
movement of Northern fruit. The
output of potatoes and onions was
stimulated by rising prices and
showed gains compared with the
early part of the month and a year
ago.
Current carlot shipments are run
ming approximately 10 per cent
under those of a year ago, and the
seasons produce movement to date
is tagging to about the same extent
owing to previous low prices of some
leading products.
Potatoes Advance
Prices of potatoes have continued
to advance, supported recently by
a decrease of over IL 10000 bushels
in the November estimate of pro-
duction for 80 late shipping states.
Some further loss is expected this
month from decay in storage and
almost total losses of undug po-
tatoes in some sections.
Cabbage shipments showed de-
creasing tendency early this week,
and continue much lighter than last
season. Movements average around
100 cars daily, Acreage of fall cab
bage in South Carolina and Virginia
has increased IA per cent above last
year, and So per cent above the
flve-year average. Celery prices are
holding we'll in the East, but con-
tinue draggy in the Middle West.
With shipments steadily decreas-
ing and current movement around
300 cars daily, no definite change
has developed in the apple market
Slow and steady markets are re-
ported in Eastern and Southern pro-
ducing sections. Cranberries con-
tinue to show improvement due to
light production.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
SW0PE RESIGNS FROM
SUPPLY CORPORATION
j. L. Buchanan, Former President,
Becomes New Chairman.

by UNII6U ITtSS
SCHENECTADY, N. Y, Nov. s.
Gerald Swope has resigned as chair
man of the board of directors of the
General Electric Supply Corp, 1t
has been announced.
j. L. Buchanan, of Bridgeport,
Conn, formerly president, has been
elected chairman.
j. L. Busey has been named pres
ident Of the General Electric Supply
Corp. Busey formerly was manager
of sales of the appliance sales di-
vision Uf the merchandise depart
ment of General Electric at Bridge
port.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
Chicago Stocks
GROSS EARNINGS RISE
CBy Abbott, Proctor & Paine,

CHICAGO, Nov. 15.-Gross oper-
atlng income of the Detroit Edison
Co. and subsidiaries for the year
ended Oct. 81, 1885. amounted to
S48,l16,163, compared with s44,544.-
OH in the preceding year, it was
announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15

I have tried
to find the EVIL
dence of this. I
can not find it.
The E n glis h.
m an Is, per-
haps, the most
heavily t a xe d
b eing in the
world. In 1894
the per capita
tax IN England
was S92 SO. In
America it was
S75.14. T h a t
nufc the Epp-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
Produce Markets

Tbs prices quoted below ars paid for
livered in indianapolis the price VIII be
] cent higher: Heavy breed hens, 17c
Leghorn breed hens. l2c; springers, over
cocks, &c: Leghorn broilers Ia lbs. and
UP. lac; Legnorn springers. lac; ducks
white, lbs. and up, SC; geese. full feath-
guineas. IA lbs. up 25c: No / strictly
fresh eggs loss OF Csc; pullet eggs lsc
Each fun case must weigh SIS lbs gross
deduction Of loo a pound under SIS lbs
Will be made. Butter, No /. 52is q 80 &C
No. 2 3olaaSl lac: butterfst. CSC Quoted
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
STEEL OUTPUT CLIMBS

CHICAGO, Nov. 15.-Buoyed by
expanding demand. steel production
is around 81 per cent of capacity,
an increase of Is points from the
middle of last week, and at the
highest level since the first week in
February, the Iron Age reported
today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
NET INCOME DECREASES

NEW YORK. Nov. l5.-Net earn
ings of the Eastern Utilities Asso-
ciates and subsidiaries for The year
ended Sept. 80 amounted to s1,564,-
6s9, against s1,635.946 a year ago,
1t was revealed today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
Trends
Evidence on Taxes
Can Not be
Found.
BY JOHN T. FLYNN

NEW YORK, Nov. 15.-Mr. Hoo
yer and a number OF others
have indicated that their ior
drive against the Administration
next year will be on the subject
OF taxation.
America, Mr.. Hoover says, is the
most heavily taxed country in the
uJOy.ld
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
BY United PresSl

CHICAGO. Nov. Esss-Market. un-
settled receipts 1856 cases; fresh graded
h-st-, q &c; extra flrsts. 2sc; current re-
ee.rts 2Sisc: dlrties 20a 2lc; checks, 1870
zoe. Butter-Market, firm: receipts 1851
tubs; extra hrsts t90-el1s scorei 32u
32ise: extras 90 seorel $50; frsts So
ss 7cl. 3l@3l isc: seconds ss6-s7i2 score' ,
Poultry-Market. steady: receipts / car. So
trucks, ducks, l5ismlsi2c: geese, ISL &C
turkeys. ls024c: Leghorn hens. llTl4i9c:
old ROSTERS. l5c. Cheese-Twins. l6i IA
lelsc; Daisies. l694di7c: Longhorns. i7G
l7hc. Potatoes-Supplv moderate demand
slow; market dull: idaho RuSset BurbankS.
sle5Ii.95; commercials, si.65, U. s No 2.
81 .35&l 80, Wisconsin round whites. siloa
! is commercials, si.0S MICHIGAN round
whites. sl2o; Minnesota and North Da-
kota Red River Ohios, sl.3oq 1856 Colo
rsdo McCluTes. sl.65mi. 10: Nebraska Bliss
Triumphs, sl,40di.SS Wyoming Bliss Tri-
umphs. si.5S. Arrivals, es; on track 36S :.
Shipments 62q
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
Employees of Government Increase

Civu employees of the Federal government show an
increase in the month Of September of ELSIE it is
ported BIZ the Grill Service Commission, Grill employees
noeC total 794 ,467.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
GERMAN STEEL
ORDER STARTS
SWAY BATTLE
New Deal, Industry and
Labor Lock Horns on
$4,000 Purchase.
BY RICHARD L. HARNESS
United Press Staf CorreSpondent

WASHINGTON. Nov. 15.-A S19.-
900 order for German steel for a
New York bridge financed by gov
eminent money has provoked a
three-way fight involving the New
Deal, American industry and organ
lied labor
There were a strong possibility of
a Federal investigation into charges
that Nazis were dumping" con-
Struction materials into this coun-
try, and that the Administration had
not sought to stop the move.
This was the situation:
A sub-contractor on the Tri-
Borough bridge project for which
Public Works Administrator Harold
L. Ickes made S44, 200, 900 loan and
grant, ordered $4,000 worth of Ger
man steel for his work.
Green Protested
The American Steel industry and
William Green, president of the
American Federation of Labor, i'm
mediately protested to project au-
thority members. Directors of the
development explained that. under
IckeS regulations. they were I'M
able to stop the transaction,
Secretary of Commerce Daniel C.
Roper, after making inquiries at
1ckeS' office. said he believed Ameri-
can materials should be used on
such contracts.
IckeS accused the bridge board
of passing the buck to Washing
tom He said the Tri-Borough Au-
thority could have prevented the
purchase of foreign materials If it
had only taken the trouble
Industry protested. It asked
whether Ickes would seek to pre-
vent more orders going to Germany
from this $3.50 100000 construction
program under the $4,000 900, 900
work-relief program
Amounts to ne-Twcntieth of Cost
Steel men pointed out that Nazi
materials were purchased for the
Sl,555000 Morehead City On. c.
ocean terminal They said PWA
should increase the allowed differ
entail, now Is per cent on orders
amounting to more than $4,000,
between domestic and foreign metal.
Although the Tri-Borough pur-
chase amounted to only one-twen-
tieth of the bridges total cost.
Green spoke labor's opposition to
the governments position.
IaI
not stand for spending emergency
relief funds for foreign steel while
American workmen in American
plants remain in forced idleness."
These developments were likely:
May Increase DifferentiaI
The government may make an
investigation into German selling in
this country. Ickes indicated such
move would be appropriate"
When asked what he would do IL
German orders continue.
PWA may increase the IS per cent
differential, and seek to equalize the
difference in domestic and foreign
selling costs that made German
steel Al per cent cheaper on Tri-
Borough.
congress may review the situation
when it convenes next January and
take steps to bar foreign materials
from governmental financed develop
ments.
Senator Thomas D. Schall Or,
Monn0 said that this proposed in
vestment of PWA and WPA funds
IN German steel. because of Hitler's
so per cent bounty on exports. can
be blocked at New York harbor by
simply enforcing of the Anti Dump
ing Act of the United States Tariff
Act "
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15

lishman ahead of us in 1884, in
the mere matter of dollars, to the
extent of IA per cent
Taxation in 1885 was not great
ly different in actual per capita
levies. What it will be next year
we can only guess.
TINE year before - 1893 - the
L. Englishman paid 25 per cent of
his income in taXation-all taxa
ton, national and local We paid
1875 per cent of our income
This year Englishmen will prob
ably pay % per cent of their in
come in all sorts of taxation;
Americans will pay not over 10 per
cent. Germans, taking the last fig
ures available 1929, pay about ri
per cent.
1t is very difficult to make COM
parsons. One can merely take the
British tax and translate it into
dollars at current rates Of eX-
change. But this does not mean
much. The actual purchasing
power of the pound in England is
a good deal larger than the pur-
chasing power of SIS is in America,
TT is the income tax payer in this
Il country who escapes most. Here
a very much smaller percentage of
10 nA1InntnL frnV11 n
comes and a larger per cent from
excise and rent charges. The eX-
else tax-taXes on cigarettes, liquor,
merchandise, including the pro-
cessing tax on bread, fall upon the
mass of the people. Income taxes,
properly graded, fall upon those
better able to pay.
But in this country only 81 per
cent of all Federal taxes are raised
by income taxes, while in England
al per cent are thus raised. We
get 4.3 per cent of national taxes
from estate and gift taxes and Eng
land gets 12.5 per cent. We take,
however, so per cent of all our ma
tional taxes from excise levieS,
sales taxes of various sorts, while
England taxes only 16.5 per cent.
One of the greatest illusions is to
compare English and American
income taxes. In the mere matter
of rates England outweights us
heavily. But this hardly tells the
story.
TN the lower brackets exemptions
IL wipe out the income taxes of
millions here. Here a wife brings
deduction of $500. In England
she is good for a cut of only $625.
This is one Of many differences. In
the upper brackets the rates of
Americans and English come closer
together, particularly if We include
state income taxes in certain COM
monwealths. But England permits
no capital loss deduction, no de-
auctions for charity, no deductions
Tor taxes and interest. Moreover
she does not permit the corporate
racket ring through which count
less millions of taxes are lost to the
government in this country. refer
to the personal holding company.
the intricacies of corporate book
keeping, etc.
Copyright, 1895, NEA Service. Incl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
Local Securities

because quotations on local securities
are unlisted on an Exchange, The Times
can not assume responsibility for the &C
curacy of these figures gathered from local
hrnLersl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-15
ECONOMY GROUP
SUGGESTED BY
HENRY WALLACE
Idea for Council to Be Non
partisan Placed Before
Academy.
By United Press


NEW YORK. Nov. 15,-Creation
of nonpartisan council to "help
us discover, formulate and adhere
to intelligent national economic
policies" was suggested yesterday by
Secretary of Agriculture Henry A.
Wallace as means of guarding the
nations general welfare.
He placed the idea before the
Academy of Political Science at
Columbia University with the hope
that it may be seriously and criti-
cally discussed, but with the knowl-
edge that analysis may reveal grave
disadvantages"
The United States Supreme Court,
he said, has again and again de-
clared" that it is not its function
to inform the government of the
advantages or disadvantages of its
economic policies. That task, he
added, could be handled by the pro-
posed council of four or five of the
country'S most eminent economic
statesmen" serving terms ranging
from five to II years.