Why Mrs. Reagan Still Looks Like a Million

Nancy Reagan's fondness for designer couture that she once contended was beyond her ability to buy has not abated. Mrs. Reagan has been borrowing costly dresses, matched outfits and jewelry from leading fashion houses on both coasts on a lavish scale. This despite her public promise in February 1982 that she would stop the practice, after her acceptance of such fancy items posed a political problem for the White House.

Any expensive clothing given as a gift to Mrs. Reagan must be listed on annual financial disclosure forms required of federal officials under the 1978 Ethics in Government Act. President Reagan...