Business: The High Cost Of David Kennedy

Treasury Secretary David Kennedy is becoming an increasing source of embarrassment to the Nixon Administration. His chronic foot-in-mouth habits, which are costly in terms of both dollars and prestige, began to be revealed the moment that he was appointed. Last December, Kennedy said that he wanted "to keep every option open," including the option of asking for an increase in the price of gold—and that set off a new flurry of gold speculation on the London market. In June and again in July, he said that the Administration might be forced to consider putting controls on wages and prices. President Nixon...