Milford chronicle., 1940-02-23
ECONOMIC HIGHLICHTS
Happenings That Affect the Dlnner
Pals, Dividend Cheeks and Tax
Bills Of Every Individual, National
And international PrOblems Insep.
arabic from Local Welfare.

w IA NAAo gouANAys- ny Tue Glu u
1914, the allied governments were
seeking war materials from Ameri-
can factories on a vast scale, and
the sky was the limit 80 far as
price was concerned The allies
even bid against each other, thus
sending prices zooming. A long time
passed before buying became even
comparatively orderly and efficient
If anyone thought that mad scram-
BILE was due TO be repeated when the
current war came into being, they
were Just about 100 per cent wrong.
Before the war was actually declar-
ed both France and Britain had pur-
chasing commissions IN this country.
These commissions worked cooper
atively, not as cross purposes. Pur-
chases we're made by direct contact
with manufacturers, thus eliminat-
ing the need for brokers. And when,
late in January, the two commits
sions we're merged under the name
of the AnglO-French Purchasing
Board, Il became evident that the al
lies were out to get the most for
their money, and are working as
closely together in business mat
ters as they are in military affairs.
One purpose Of the new Board is
to eliminate priee-boOsting cOmpe-
tiOn and overlapping OF functions.
Another very important purpose is
to keep in friendly contact with the
U. S. government and to eliminate
possible friction that might occur II
Allied purchases seemed to hamper
our own preparedness program. The
heads of the Board are well known
business men long experienced with
American finance and industrial
methods.
Biggest Allied demand is still for
airplanes-sO far Britain alone has
placed orders for some S9O.O0O,0 900
worth. According to a Wall Street
Journal article. Allied total aircraft
buying may run to the astounding
figure of $1,7OO, 900 900. Inasmuch as
our total aircraft output last year
was only $225.O0O,OO0. this. IL il
materializes, will call for tremend-
GUS expansion of our aircraft indus
try. IL is believed that the Allied
purchasing agents will attempt TO
get part Of the work done by sub !
cOntractOrs-such as automobile |
cOncerns-in order to speed matters
up.
This government is obviously con- |
cerned lest Allied war buying reach |
the point where there would be an |
inadequate supply of war materials (
left for us. To prevent this, the |
President has appointed a commit !
tee. headed by Secretary MOrgen-
thau. representing the Treasury, /
War and Navy Departments, whose
duty is to coordinate foreign war
buying with our own defense pro-
gram. Mr.. MOrgenthau has said that
our own needs must be filled first
has expressed the opinion that our
for producing airplane en-
gines for fighters, is insufficient to !
meet the demand. The Allies may
thus be forced to pare their exceed
ingly ambitious present program.
Even AZ the makers 0f war ma
terials have benefited from the war,
The producers OF other commodities
have suffered. British demand for
for instance, has practi-
cally disappeared-EurO has no
gold to spend for luxuries. Severe
have likewise been
placed on fruit purchasing. at the
expense of American agriculture.
Despite this. however, and despite
he almost complete loss of German
md Polish trade, our exports have
Deen remarkably high. The Euro
Dean neutrals, no less than the bel
igerents, have Significantly upped
heir purchases from us.
Summing up, il looks as If the war
will not dislOcate our economy at
his time, or materially affect
Irices But when war ends, ii
oesn't seem possible that We can
void a slump-many a great fac
Dry geared to war production will
nd that its reason for existence has
anished overnight War bOOms
lake postwar depressions.
600
The key to EurOpe's future may
e in the Balkans. AS Captain J. !
|. Craige says, IAN through his
Dry it has been easy to start wars .
! the Balkans, hard to stop them" I
II the Balkan states could get to-
ether and form a cohesive neutral |
loc, their chance of being invaded
Ould be small. They would have '
q army of close to 100000 first line 2
oops, adequately equipped and !
acked by q sizable air force. But the !
alkans are a crazy-quilt of mixed, =
nfriendly natiOnalities. Never in
lstory have they been able to work Z
or to adjust their N
opposed and divergent ambitions !
nd policies.
JugOslavia seems to be looking to
ally for protection, as does Bull C
lria. Turkey and Greece are the n
lies friends, though Turkey has h
said she will not aid h
ritain and France should they go h
war against the U. S. S. r. Ru-
ania, country Of oil. is the state II
hich Is really on the spot now. r,
lille the Allies have pledged their m
d in case of need. they are far h,
way. Germany is right next door OI
I'd is phrasing her demands in un- u,
uivocal language. Chances are h
at Rumania will be forced to go a IN
ng way in doing the Reich's bid II
ng. 81
II this war is to become a real @,
1rld war, most authorities think ea
e starting point will be the Balk- sT
IS. birthplace of many a devastat-
3 war OF the past. SC
IATIONAL LABOR RELATIONS te
BOARD IA