Milford chronicle., 1939-09-15
Economic Highlights
HAPPENINGS THAT AFFECT THE DINNER
PALS, DIVIDEND CHECKS AND TAX
BILLS OF EVERY INDIVIDUAL
National and International Problems
IHJebarabLe from Local Welfare

National and International Problems
IHJePardble from Local Wsifars
Armageddon has come to Europ'
again. More ominously prophet,
than ever. seem the words of Lore
Grey, Premier of Britain. spoken Ol
that fateful night in 1914 when th'
start of the first World War was bu
few brief hours away: THE light
are going out one by one over Eu
rope. They will not be lit again il
our lifetime" And, uppermost in the
mind of every American is the role
that our nation can and should play
in world affairs in this time of dis
aster abroad
The President has appealed by ra'
dio to the people to maintain neu'
trality. He has officially proclaimed
q state of neutrality, and has, as re-
quired by law, declared effective the
general arms embargo imposed by
the neutrality act. Going by all avail
able evidence, the American people
sympathetic as the bulk of them are
with the cause of Britain and France,
are vigorously determined to remain
neutral in fact if not in thought The
disilluSioning lessons learned from
cur participation in the last war
have not been forgotten. Press polls
of members of Congress indicate
practically unanimous opposition to
again sending an A. Z. F. to other
lands. So do the editorial express
sions of leading newspapers.
1t is thought certain that the Pres
ident will soon call a special session
of Congress to re-examine our neu-
trality legislation. The Administra-
tion firmly believes that we should
sell arms and anything else to war
ring powers on a cash-and-carTy
basis. to be transportedin their own
ships. The principal conflict between
White House and Congress last ses-
sion was caused by this. The isola-
tionists won and the in toto embargo
was retained. Up to the very moment
when Europe went to war. isolation
ist feeling was apparently on the
increase But in these tragic and
stirring times change in sentiment
can and does come with lightning
like rapidity. Late information indi-
Gates that a number of Senators and
Representatives who opposed the
Roosevelt-Hull plan have now chang
ed their position. The vote was ex-
tremely close when the bill came to
the floor last session. and it is poss-
ible that the cash-and-carry plan
now has a majority.
Theoretically. the cash-and-carry
system is a neutral one-any nation
can come 20 our shores, get what IL
wants and take il home. In actual
fact. as everyone knows, it would
be of immense aid to the democra-
cies. England absolutely dominates
the seas and the trade lanes. In the
first few days of the war England
captured several German merchant
men, and forced others to seek haven
in neutral harbors where they must
remain indefinitely. British warships.
in the view of military experts. will
make it possible for the allies to
carry on trade with this country on I
near normal basis. ANY German
ship seeking to make a run here and
back would face almost certain de-
struction. or capture
There is one less favorable phase
of the cash-and-carry plan so far as
the British and French are concern
ed-snd that lies in the belief held
by number of qualified men that
we will be able to give the democra-
cies relatively few military supplies |
that our own rearmament pro-
gram will swallow practically all the I
arms and munitions and planes we
can produce. That remains to be
seen.
Looking at the war generally, !
there is one note of hope-the opin-
ion that it cannot last a very long
time. because of Germany's great &C.
onomic weakness. and the clear de-
sire of the masses of her people for |
peace. One of the best experts say
that Germany might last two years
if the French fight a defensive war,
and not more tina none year if the
French take the offensive First re-
ports indicate the French have chos-
en- the latter course. and are carry
ing the war to the enemy on the
Western Front
-oOo-
Inc Onlteu states news observes,
One certainty in an uncertain world
now is this: Prospect of any return
to 'normalcy' at home or abroad is
gone"
Thus the hazards of forecasting
business become even more acute.
One thing seems to be true: We will
Contj1ue to re-arm on a gigantic
scale and that is naturally a strong
ly favorable temporary factor. Build
ing pthe military establishment
means more business for practically
every industry and trade.
We are better prepared for trou-
BILE abroad than in 1914. Plans have
been made for imposing controls on
the stock exchanges to prevent dis
astrous rises or falls in security
quotations.. Other plans nave been
made to help stabilize industry.
Bad economic factor is that d
lengthy war would undoubtedly re-
suit in a British blockade Of Central
Europe, thus cutting off our trade
there.