Word: lies
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Dates: during 1940-1949
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Aussies used to think that they had a protecting screen in the islands which lie off Australia's northern and eastern shores: New Guinea, the Bismarck Archipelago, the Solomons, the New Hebrides, New Caledonia. But in Japanese hands these islands could be either invasion steps toward Australia or walls between Australia and the U.S. If Australia is thoroughly walled in, the Japanese can take their time about invading it and turn against India or Russia...
...clue to the shake-up may lie in the fact that in the first eleven issues of 1942 the number of pages of Post advertising has averaged 20.2% below the same eleven issues of last year, with the decline apparently growing. A decline of 20% in Post advertising would mean a loss of about 575 pages in a year, or between $4,000,000 and $5,000,000 in revenue. (All Curtis publications made only $1,628,386 in the first nine months of 1941.) When a magazine starts taking that kind of loss, somebody has to take...
...there is in the Western Hemisphere aplenty: last year's production was 1,761,951,000 barrels, 78% of world production. But nearly 7,000 miles of water -a four months' round trip for a fast tanker -lie between San Francisco and Melbourne. India's port of Calcutta is 16,425 miles from San Francisco. It is 4,673 miles from New York to Archangel. And all these trips will require some convoying...
...failure of our strategy can hardly be attributed to our military master-minds. Its counterparts are too much in evidence throughout our society for the cause to lie so near the surface. We are on the defensive militarily, just as we are on the defensive politically, economically, and psychologically, because basically we think of ourselves as representatives of the status quo, attempting to preserve it against a powerful new order. We are attempting to resist the principle of change, and we are beginning to see the hopelessness of that task. Upon our ability to develop plans...
Profit Limitation? The Treasury would still like to assess excess-profits taxes solely on invested capital, in effect recapture all profits (whether "war profits" or not) above 6 or 8%. But Congress has thrice rejected the idea, and this week the Treasury let the sleeping dog lie-for the time being. Instead, adopting a British idea, it proposed a post-war refund of profits taxes in excess of 80%, for expenses of conversion to peace...