The Coolidge examiner., 1939-11-30
ECONOMIC HIGHLIGHTS

Repeal of the embargo naturally caused most of
to give principal attention to potential war bust
ness from beleagured Europe Of late we've become so
accustomed looking the that we haven't
paid much attention to what is going at home AS
result to quote Newsweek 1n surveying business stimu
ants many analysts have almost overlooked another
factor-our own national defense program-which will
become increasingly important after the turn of the
This country isn't at and, going by the pronounce
ments public officials and the various polls which
designed to the pulse of public opinion aren't
going to But at the same time, going to do
best to make that doesn't to us-and
the general opinion that the only to do that to
build national defense system which will make this
hemisphere look mighty unhealthy any possible aggres
sor To create that system will cost great deal more
money than spent for military purposes peace
time before.
At the moment spending substantially more
than S1OO 900 900 month in furthering the
gram forecast that by June the monthly rate of
spending will reach $135OOOOOO and very possibly ex
that And during the last half of 194O the estimates
continue arms spending will probably jump far beyond
even that figure. i
This years War Department budget was some $780,
900 OOO The Department is getting up its projected
budget for the next fiscal year, and reliable reports say
that it will be about third higher than 81 000-
100000 Much of the money will be spent with existing
basic peace industries, we'll with the makers of
and shellsa modern moves more and more on
wheels and less and less foot, and such articles as
trucks vital the actual weapons OF combat
Expenditures of the Navy Department will touch a.
tremendous total Close to 100 ships large and small
will be built according to current plans Other ships will
be revamped and modernzed. Purpose is to make our
fleet the most powerful in the worda distinction which
some experts think it may already claim. Shipyard facil
ties will be strained to the limit and there excellent
possibility that the building gets under
way, the principal yards may operate "a hours day
defense program such this obviously touches
every facet of industrial life The demand for power
and transportation increases along with the demand for
steel and lumber and machine tools Biggest benefcares
are the heavy industries which took the worst licking
during depression Plant improvement and expansion all
along the industrial front may be confidently anticipated
The program will also have beneficial influence on
the unemployment problem. Hundreds of thousands of
additional workers will be needed in shipwards tool
factories, truck and automobile plants ETC. top of
that, there will be for many thousands in the
army and navy. AT present the army increasing its
numbers, both in the regulars and the National Guard
and it will not be great while say those touch with
affairs before the Army rolls reach the present
time limit of 400, 900 men,
Just how much warning Europe will be able to buy
here is still moot question But whether foreign orders
go above or below expectations is certainty that our
own defense precautions will be tremendous temporary
stlmulant to business in this country