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had been done among the industrial states, not in full, but in part. I don't think that the planned economy was involved in this. I mentioned the planned economy idea, which was in circulation, because in the course of our conversation, he said something about the Technocrats. He said to me, “The Townsend Plan will be upon us. You know, the Technocrats back that. Some of these people who are proposing a planned economy back this Townsend Plan, or something like it.” That plan provided for thirty dollars every Thursday to everybody over sixty. That propaganda was put forward at that time in such concrete, specific, scientific-sounding terms that it sounded so good to thousands of people who didn't know the realities of life and was having a very wide acceptance.

He spoke of that and I said, “You don't think that's a good idea?”

“No,” he said, “I think that's horrifying. I think it would bankrupt the United States. I don't believe the hooey that they get out, but we must have a plan. We can't work any longer just hit or miss.” By that he meant that industry was at the very bottom, really at the bottom. Industrialists were writing to him, telephoning to him, coming to see him, telling him that the new administration would have to take over most of the industries. They would