Democratic gains surge since 1952 across states and Congress
The Associated Press notes substantial Democratic progress since 1952 with gains in governors offices in Colorado, Iowa, Ohio and New York. Democrats win in the House with a net gain of 17 seats to 232 to 208 while control shifts appear in several states including Arizona and New York.
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Government Puts Squeeze On Credit
Federal reserve banks raised the discount rate to 2 percent, the highest since 19M, tightening the cost of money for commercial banks. The move comes as business sentiment rises after a stock market slump tied to President Eisenhower illness, with indicators showing renewed momentum in the third quarter boosted by buoyant consumer demand and higher rediscount activity.
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