Milford chronicle., 1938-02-18
ECONOMIC HICHLICHTS
HAPPENINGS THAT AFFECT THE DINNER
Pals, DIVIDEND CHECKS AND TAX
bills OF EVERY INDIVIDUAL
National and Tafeynafionai Problers
InSeparabie from Local ReifaSs

Bills OF EVERY INDIVIDUAL
National and THfryHafioHai Problems
In5ebarabir from Local WeifaSs
II hasn't been headlined much as
yet-but the United States and Ja-
pan are about to become actively
engaged in a naval expansion race.
The current naval program which
has the Presidential approval, calls
for major expansion of the navy Ov-
er a period OF several years. A large
number Of minor ships will be built,
plus several capital ships-heavy
men-of-war, mounting 16-ineh guns,
and costing scores of millions.
Two unconnected incidents seem
. to. be responsible for the program to
reVitalize and enlarge the navy.
| First, the warlike attitude of Japan
and her apparent disregard of the
rights of acknowledgements (as illus
trated by the sinking Of the Panay),
has brought the State Department to
the view that the United States must
make II apparent to Nippon that we
are prepared, II necessary, to meet
force with greater force. Second, the
business depression has made this a
perfect time, in the view of New
Deal officials, to inaugurate a naval
building program. A battleship
takes several years to complete, and
costs from $3O.OOO,O0O to $50, ,OOO, 900.
Il requires a tremendous amount of
labor, skilled, semi-skilled and un-
skilled. 1t demands the products of
all the basic Industries, from lum-
ber to steel. Thus, big scale naval
expansion plan is of no small sig
nificance in employing labor. distri-
buting money throughout the basic
industries. and bOlstering business
in general, for a short period.
Theoretically. Great Britain and
the United States have the worlds
greatest navies. with Japan run
ming a poor second to these dOmi- !
nant powers. Actually. when it
comes to modern naval tonnage-as
against obsolete tonnage represent
ed by ships which look all right in |
war games but would be next to use !
less in actual cOmbat-Japan is /
practically as strong as we are. and |
SOIIt NAlluK huG may {
Between 1923 and 1888. American /
naval construction practically stop /
ped. Those were the years in which
Japan was developing her navy as
RAPIDLY as possible. Since 1922, ia
nan has built or started 217 war
ships with a gross weight OF $4,000
tons, as against 1856 ships crossing
$50. 900 tons for the U. S.
Further, it is reliably believed that
japan (whose government makes ev-
cry effort to keep such matters
dark secret) is now building several
ships of almost unprecedented size
and range, and mounting 1S-inch
guns. The best available figures in
dicate that the United States today
Dossesses I13 modern fighting ships
weighing a total of $4,000 tons.
while Japan has Ill ships weighing
7OS 900 tons. In addition, Japan sub
sidizes it's merchant marine, which
Is in reality a branch of the navy.
AS everyone knows, the U. S. mer-
chant marine is next to nOn-exist-
ent. and has been going down hill
at eataclysmic speed since the last
war.
Here are some of the reasons why
he House recently approved the
argest naval peace time appropria-
ion on record for the next fiscal :
year-S553. 900, 900. 1t is not at all
Unlikely that additional legislation
will increase this figure. This gov
,rnment seems certain to become IN
-olyed in what the U. S. News terms,
the worldwide naval armament =
Space prohibits this column dis
ussing the endless differences OF
,pinion between those who feel that
big navy makes for peace and
hose who believe it makes for war. J
he first school argues that if We
how sufficient military strength, no d
ation will dare to insult us, much
ass attack us-that, no matter how I
1uch they may hate us and desire =
ur possessions, they will have to Il
cen out of war because they can't +
win. The second school, -
,hich has much historical preced- d
Mt in its favor, argue sthat great v
avail and military machines, even -
lough their sponsors urged them as n
lstruments of peace, have inevit- j:
bly become instruments Of war. =
hese opposed theories are Of only a
rademic interest now, however Z
,e big thing is that the entire =
orld. including the United States. e.
spending untold billions to create d
ghting machines of a greater mag
tude and effectiveness than ever NJ
listed before. fo
During 1898, to date. industry has &C
und what Business Week terms an r
II least temporary base line" A
sistance point seems to have been or
ached. beyond which industry as a u
hole does not drop. Nor, on the
her hand does 1t rise much be- c.
md this point Conditions are un- l.'
uaIly static, taking the situation
a whole. nr
There seems small likelihood OF VI
" major change either way in the
ar future. Sc
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