"Administration Program"
When Secretary of the Treasury Andrew W. Mellon suddenly proposed a cut of $323,000,000 in taxes, mainly income taxes (TIME, Nov. 19), he gained more applause than John Barrymore in Hamlet. It was a tremendous surprise to the professional politician. Mr. Mellon was supposed to be an amateur in national politics. But he was able to frame a taxation proposal that received almost unanimous support from the business men of the country. The politicians held their ears to the ground, and then, since the roar of applause was unmistakable,...