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Grace's claim was not as fantastic as it sounded. In World War II the biggest drain on U.S. steel production came from the simultaneous need to build a whole new Navy and a vast cargo fleet, plus hundreds of new oil refineries, aluminum plants, synthetic rubber plants, steel mills, etc. War in Asia had found the U.S. with most of these facilities in use or in reserve. Thus, even the heavier requirements for aircraft and tank production now would come far from matching the huge needs of World...

Author: /time Magazine | Title: STEEL: A Mad Scramble | 8/7/1950 | See Source »

Bigger Target. To make up for the drain of the cold war, and provide for growing numbers of retired workers, C.E.D. thought that the U.S. would have to step up production in the future. The Government could make some major contributions to higher productivity, mainly through tax reforms, such as a quicker write-off of new machinery, and adjustment of taxes which now discourage investors...

Author: /time Magazine | Title: The Profits of Revolution | 6/26/1950 | See Source »

...delicate negotiations. Observers guessed that Gaitskell was inching toward agreement with the continental nations when his mentor, Sir Stafford Cripps, gradually withdrew from the talks and went off on a vacation. Gaitskell and his OEEC colleagues finally worked out a scheme to save Britain from an excessive dollar drain. It agreed to admit not merely Britain but the entire sterling area to EPU, and to provide special safeguards against a run on Britain's dollar reserves; e.g., member nations may not demand dollars in exchange for "old sterling" earned before July 1950. Meanwhile, other events helped to calm British...

Author: /time Magazine | Title: ECONOMICS: The Swiss Are For It | 6/12/1950 | See Source »

Bloodletting, almost as old as surgery itself, has lately been out of favor. But in the current American Journal of Surgery, two Cleveland doctors recommend a bloodletting technique so radical and daring that an oldtime chirurgeon would have paled at the thought of it. Their method: deliberately drain away the patient's blood, in amounts up to 2½ or even 3 quarts, during certain serious types of surgery, then replace it as needed...

Author: /time Magazine | Title: Medicine: Draining the Patient | 5/22/1950 | See Source »

Tight Little Island. The British drain the last drop of whimsical fun from the salvage of a shipwrecked cargo of whisky (TIME...

Author: /time Magazine | Title: Cinema: Current & Choice, May 8, 1950 | 5/8/1950 | See Source »

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