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...modern mechanized army and air service. In the event of a major war Germany will need 15 to 20 million tons of oil a year. The entire annual yield of the nearby Rumanian fields, assuming Germany could and would quickly take Rumania through Hungary, is short of 7,000,-ooo tons and synthetic production in Germany can hardly exceed a million tons. Furthermore, number one truism of writers on military problems is that the next long war will be won by the nation with the greatest industrial potential behind the lines. The ability to mass-produce and to service guns...

Author: /time Magazine | Title: GERMANY: Wehrwirtschaft | 5/22/1939 | See Source »

...around 2,000,000 tons a year. This does not include imports for naval and military use (estimated at another 1,000,000 tons) which do not pass through the customs. The Italian oil company which has the exploitation of Albania's oil resources produced 120,-ooo tons last year, and hopes (perhaps over-sanguinely) to produce 300,000 tons...

Author: /time Magazine | Title: Letters, May 15, 1939 | 5/15/1939 | See Source »

Said he of capital gains taxes: "It is not an old American principle we are abandoning. . . . [Not until 1913 were long-term capital gains taxed, and then with a $20,-ooo exemption.] With reference to the illustration which the President gave, he was just misinformed. I have no doubt about that, because I know the President is sincere in his utterances...

Author: /time Magazine | Title: THE PRESIDENCY: Attack at Arthurdale | 6/6/1938 | See Source »

...have been printed in Vogue especially during these days of cruel, vicious and unreasoning persecution of Jews." While the indignant telegrams began to pile up on his desk, Conde Nast held back the 130,000 copies that had not yet been distributed, scored out the offending legends. But 150,-ooo distributed copies were beyond recall. And of course Mr. Nast demanded Mr. Beaton's resignation as photographer and artist for Vogue, well knowing that after ten years Vogue was losing its highest-priced and most sprightly talent. Third Nast move was to rip out 14 expensive pages...

Author: /time Magazine | Title: Press: I Can Draw, But. . . | 2/7/1938 | See Source »

...time ten-year-old Daniel Hoerner died, doctors knew that an epidemic of trichinosis had befallen the huge household. The sausages taken from their North Dakota home contained embryos of the lint-like worms, one-eighth of an inch long, which cause this widespread (17,000,-ooo estimated U. S. victims), occasionally painful and exhausting, although seldom fatal disease. Cooking the sausages well would kill the embryos and prevent infection. But Mrs. Hoerner and neighbors who came in to help her as the family's epidemic spread, were in a hurry...

Author: /time Magazine | Title: Medicine: Sick Sausages | 2/7/1938 | See Source »

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