Abstract

Oh, Pool Mr. Mellon!

The ironic gods will have their fling, and they seem to be preparing for one vast Olympian chuckle at the expense of Calvin Coolidge. Tell it not in Philistia, but the outlook is that the great apostle of governmental thrift will wind up his famous Economy Administration with a handsome deficit in the public treasury. What makes it more excruciating is that the author of the impending disaster is the same financial wizard to whose genius the supposed success of the Coolidge fiscal policies have universally and reverently been attributed. However, tax refunds and the Greek loan do not constitute the sad story in its entirety; there is also the little matter of our preparation for the Next Wars presumably to be fought against Great Britain.