Word: pre-war
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...basic, national readiness for war, in the energy and quality and amount of its pre-war planning and production, the U.S. of last week was incomparably ahead of the U.S. of pre-war 1917. It was even ahead of the U.S. of midwar 1918. By the dollar measure alone the U.S. in that war spent a total of $22,000,000,000; last week, the U.S. had already spent or committed itself to spend...
...pre-war economy the problem is to expand all production enormously, to insure reserves of butter before the time when most production will be of guns. The nation's essential goods must be produced and procured without wrecking the economy...
Twaddle. Husky, benign Harry Twaddle read a prepared statement which painted a rosy picture of great progress against great handicaps, of war-timed mobilization plans adapted to a pre-war expansion which the Army had never expected. As of last week, said he, the Army had 470,000 Regulars (on three-year enlistments), 267,000 National Guardsmen (mobilized for one year), and 413,000 one-year draftees in training. Said General Twaddle...
...question in the current Forum concerned the consequences of a German victory over Britain. Only 8.5% of FORTUNE'S businessmen believed the U.S. could do business with a Hitlerized Europe on a pre-war basis; another 5.3% thought the nation could get along with Hitler without worrying much about attack, by switching to barter methods. A whopping 84.1% foresaw danger in degrees ranging up to outright disaster: 36.5% believed that the U.S. would have to adopt barter methods and maintain a costly military program; 22.6% believed the nation would have to arm at top speed for an eventual war...
Died. Josiah Baron Stamp, 60, chief economic adviser to the British Government, chairman of the great London, Midland and Scottish Railway, director of the Bank of England, member of the 1924 Dawes Reparations Commission, leading pre-war advocate of German appeasement; when bombs demolished his house in London...