Milford chronicle., 1939-12-22
ECONOMIC HIGHLlCHTS
Happenings That Affect the Dinner
Pals, Dividend Checks and Tax
Bills Of Every Individual; National
and International Problems Insep.
arabic from Local Welfare.

ally caused most of us to give our
principal attention 10 potential war
business from beleagured Europe.
or late We We become so accustomed
TO looking across the oceans that
we haven't paid much attention to
what is going on at home. AS a re-
suit, TO quote News Week, I'm sur
veying business stimulants, many
analysts have almost overlooked au-
other factor-our own national de-
tense prOgram-which will become
increasingly important after the turn
of the year"
This country isn't at war and, 60
ing by the announcements of pub
lie officials and the various polls
which are designed to measure the
pulse of public opinion, we aren't
going TO war. But, at the same time,
we are going to do our best to make
sure that war doesn't como to us
and the general opinion is that the
only way to do that is to build a
national defense system which will
make this hemisphere look mighty
unhealthy TO any possible aggres-
3or. To create that system will cost
a great deal more money than we
ever spent for military purposes in
peace-time before
At the moment we are spending
substantially more than 500, 900 900
month ir furthering the arms pro-
gram. 1t is forecast that by June the
monthly rate of spending will reach
$135,O00,0O0, and very possibly ex-
coed that. And during the last half
of 1910. the estimates continue, arms
spending will probably jump far be-
yond even that figure.
This years War Department bud
get was some $732.O00, 900. The De-
partment is now getting up its pro-
jected budget for the next fiscal
year, and reliable reports say that
it will be about a third higher. or
more than $1.000.O00,000. Much of
the money will be spent with exist
ing basic peace" industries, as we'll
as with the makers of guns and
shells-a modern army moves more
and more Oi: wheels and less and less
OH foot, and such articles as trucks
are as vital as the actual weapons
Of combat.
Expenditures of the Navy Depart
ment will touch a tremendous total.
Close to 100 new ships, large and
small, will be built. according to
current plans. Other ships will be
revamped and mOdernized. Purpose
Is to make our feet the most power
iul in the world-a distinction which
some experts think ii may already
claim. Shipyard facilities will be
strained TO the limit, and there is an
excellent possibility that once the
program gets underway.
he principal yards may operate "a
hours a day.
A defense program such as this
obviously touches every facet of our
Industrial life. The demand for pow
er and transportation increases |
llong with the demand for steel and |
lumber and machine tools. Biggest !
are the heavy indus |
ries, which took the worst licking !
luring depression Plant improve
nent and expansion all along the
Industrial front may be confidently |
The program will also have a ben
fetal influence on the uneInplOy- :
nent problem. Hundreds of thous-
nds of additional workers will be
eeded in shipyards. tool factories,
ruck and automobile plants. etc. On
Op of that. there will be room for
lany thousands more in the army
nd navy. AT present the Army is in
reasing its numbers, both in the
egulars and the National Guard,
nd it will not be a great while. say
hose in touch with affairs, before
he Army rolls reach the present
eace-time limit of 100000 men.
Just how much warning Europe
ill be able to buy here is still a
loOt question. But whether foreign
rders go above or below eXpecta-
ons. il is certainty that our own
efense precautions will be a tremen-
Gus tPmpol airy stimulant to bust
ess in this country.
600
The public at large seems to be
1mewhat puzzled by the slothful-
ess with which the war proceeds.
emembering 1914. when hostilities
n a tremendously bloody scale start
I very soon after the declaration of
ar. the bulk of lay observers are
ordering why history doesn't re-
eat itself
To the military experts, that is
ss of a puzzle. For. theyargue. .
,nsible English and French STRAIT .
~ calls for IA defensive war in ,
t.f..ln ,.I /
lily cOnServed-in other words.
ar of blockade. The British navy ,
retty well controls the seas, and ,,
w ships reach Germany. Allied au- ,
Iorities are convinced that Russia
not proving of much help to the !
eich as a provider of essential sup :
les. For one thing. Russia has none ,
% much of most commodities for /,
70 needs of her own vast pOpula-
On. And recent Russian pronounce 1;
ents indicate that. in spite of the
lance, she is not real friend of !
that she regards both !
des as being about equally at fault. !
II has seemed logical to expect a :
rge-scale German offensive-time
Drks with the Allies. But IL Ger 8
any shot the works in one desper-
e effort. and it failed. as most ex- +
,rts think il would. she would be !,
rough. One school of thought has =
that matters will drag along com :
ratively slowly until both sides =
come sick of il, when some sort of n
peace will be effected. q
NOT so WASTEFUL n
We Americans have often been g
II..L 81 nf,tI md In, nn.ln dnn,A | 4.