Word: dillons
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...demonstrated the procedure for evacuating the White House in case of emergency. Ike lifted the phone, spoke a few words; five minutes later, an Army helicopter was hovering over the White House lawn. Suitably impressed, Kennedy strolled over to the Cabinet Room with Ike to meet with incoming Secretaries Dillon, McNamara and Rusk and their outgoing opposite numbers. Laughed Ike: "I've shown my friend here how to get out in a hurry...
...BALANCE OF PAYMENTS. As one answer to the problem, Dillon sees "no reason" for continuing the special tax incentives that the Government has used to encourage industry to go abroad to Europe, thinks that any change should retain them for firms investing only in underdeveloped or developing countries. To help exports grow, he favors continued pressure against restrictions imposed on dollar imports...
...give the Treasury maximum flexibility for refinancing the long-term debt "may be" to remove the 4¼% interest-rate ceiling on long-term bonds. The Federal Reserve's shift from its "bills only" policy to "bills usually policy" last fall was "a step in the right direction"; Dillon also tactfully backed the Federal's policies by remarking that "no one policy is the preferable policy all the time...
...INTEREST RATES. The Fed was right in using its tools to restrict credit during incipient inflation, loosen it later. Dillon thus failed to back up a Kennedy campaign charge that the Fed pinched off the boom with high interest rates...
...many of Dillon's views will become guidelines of the Kennedy Administration remains to be seen. But Dillon's willingness to answer questions, and his unfailing tact and politeness, not only impressed the Senators but also showed that the precise policies of the Kennedy Administration are still open to discussion. Said Tennessee's Senator Albert Gore: "I must confess I did not approve of your selection. But you may not be as bad a fellow as I thought you were...