NEW DIRECTIONS IN THE NEW WORLD

The assistant secretary of state projects his creed for a new economic order, as essential in a changing world. He bears no brief for government taking over industry, but he makes out a good case for government supervision over credit, banking, and such industries and utilities as are in a more or less established relation to society -- not those that are still in the growing and experimental stage. More non-profit enterprise -- sustained social advances -- more flexible credit systems, all for the sake of saving the best of the capitalistic system. Not for wide sale.