Word: armaments
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...financial adviser to the British Colonial Office. Whatever Sir John's first considerations were as he walked into the highceilinged committee room in Brettenham House next to Waterloo Bridge, the problem at hand was essentially one of trying to keep skyrocketing rubber prices from knobbling the British armament race without jeopardizing anticipated profits in rubber, which will help Great Britain's balance of international payments. Result I was that the committee cautiously sanctioned an increase in production for the third quarter of 1937 from 85% to 90% of basic quotas favorable to British producers set in June...
...give his Communist and Socialist supporters something to tell the proletarians back home, Premier Blum issued a Cabinet decree "nationalizing" the Schneider-Creusot works, biggest French armorers, and commonly called by irate Red & Pink orators such names as "The Blood-Sucking Armament Octopus." There was no reason to suppose that Ramsay Delano MacBlum was not perfectly sincere in issuing this decree, but it does not go into effect on any particular date. Eventual action is made to turn on the advice of the French General Staff, which is about as keen to turn Schneider-Creusot over to political Reds & Pinks...
With the announcement that Italy will not let herself be outdistanced by Great Britain's vast rearmament program comes the realization that the "armament race" is on in earnest. Mussolini is going to try to equal the preparations made by his chief rival in the Mediterranean, and a hint that this will prove no easy task appears in the warning of the Fascist Grand Council that this army mean a "total sacrifice of civil to military needs...
...long been the custom of liberals the world over to shudder at the thought of that military competition between nations known as an "armament race". However, with world conditions as they are today, exactly the opposite view should be taken of the phenomenon. For the cause of democracy in general nothing could be of greater advantage than an arms race. The major countries upholding popular government are Great Britain, France, the United States, and, if one is charitable, Russia. At any rate, the first three named are in the vanguard, and, by a coincidence lucky for democracy, are the three...
While normal world consumption of copper has picked up sharply with general business Recovery, and record armament programs have jumped Europe's consumption near record levels in history, there was apparent by last week still another reason for the copper boom. Vast amounts of the red metal were going into hoarding, either by profiteers or as outright war reserves. Estimates of total copper hoarding in Europe ran as high as 400,000,000 lb., equal to nearly one-fourth the entire U. S. output last year...