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FEDERAL ECONOMY STUDY SHOULD BE WORTH COST
The recent upswing in the average of stock market prices may be explained in part, I believe, by things which are happening in Washington. Investors in stocks are anticipating another inflationary movement based upon deficit spending and are further encouraged by elimination of the excess profits tax and expectation that the present double taxation of dividends will be somewhat relaxed. Each week that passes brings new evidence of pressure for the Federal Government to spend more than it collects. The clear indication at the Berlin Conference that the, i>oviet Union still has as'its goal worM domination wiU deter the Congress from cutting our defense program fcelow what has been recommended by the President and some members have questioned the advisability of the proposed cuts in our ground
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