Word: said
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Dates: during 1940-1949
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Everybody Happy. But Alfred H. Williams, president of Philadelphia's Federal Reserve Bank, the first witness to appear before the committee in person, thought differently. The inflationary forces in the U.S., he said, were due in large part to the Government's "zeal for social justice," which has led to the writing of too many blank checks to meet demands of "all claimants in such areas as agriculture, veterans' affairs, housing and local depressed areas...
Thus, for all Snyder's talk about periodic balances, this policy of writing blank checks has actually put the budget beyond practical control. Budget Director Frank Pace Jr. admitted as much. Said he: "For any given year, it is unpractical to count on achieving any specific goal, whether it is a balanced budget or a pre-determined surplus or deficit." Such items as crop support, in which the expense cannot be totted "up in advance, "can substantially change the surplus or deficit." In short, neither Snyder nor Pace had any idea when the budget would be balanced...
...biggest gripes of U.S. railroaders is that their barge-line competitors use the federal-maintained inland waterways, and that trucks and buses use highways also built with tax dollars. "We don't want subsidies," said William T. Faricy, president of the Association of American Railroads last week, "but if the Government persists in subsidizing our competitors, we may have to accept them." If that threatened socialization, he added: "You could also have socialization by simply running out of money...
Ulcers and high blood pressure are popularly supposed to be the chief occupational diseases of U.S. business executives. Last week, at a meeting of Chicago's Industrial Relations Association, Dr. David Slight, Illinois state psychiatrist and onetime University of Chicago professor, told why. A generation or two ago, said he, the successful executive, like as not, was a roaring, highhanded type who grabbed what he wanted and didn't worry about shoving other people around in the process. But the 1949 executive, said Dr. Slight, feels bound by the new labor-management gospel to watch his step...
...Foremost in his makeup is vitality, drive, and aggressiveness," said Dr. Slight. "But he is expected to shut down these drives and be a man of diplomacy. The tycoon has not much place nowadays. The executive must be a compromiser. Therefore, a great deal of his innate drive cannot be expressed outwardly...