Word: rearmaments
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...know how either party can reconcile the promises of increasing welfare and the necessity for rearmament in the face of the latest economic crisis," said Samuel Beer, Associate Professor of Government, referring to the coming British elections. "Tories are in the same boat as Labor on this--for example where Labor is now promising 300,000 new houses, the Tories are promising to build 300,000. Whichever party wins will have a tough time if the dollar shortage continues...
This year's economic crisis is the worst since the war. Imports are already 47.5% ahead of 1950 and rearmament is cutting down exports. The third quarter dollar gap amounts to $638,000,000 and there are no new loans or Marshall money to relieve this. Beer doesn't think that the doom of economic catastrophe is inevitable. Rather, he figures on another American loan...
...Berlin, returned from two weeks in Moscow. Next day he called a meeting of top Communists in East Berlin and gave them the word straight from headquarters: Russia's dominant aim now, more important even than Korea, is to prevent at all costs West Germany's rearmament and integration into the West defenses...
Most surprising plank in the Tory platform was a promise to help pay for rearmament by taxing excess profits-a mighty radical proposal for Tories (but not as radical as the Socialist scheme to freeze all dividends). Churchill's Tories were plainly asking for a doctor's mandate: just trust...
...third quarterly report on defense this week, Mobilization Boss Charles E. Wilson let drop some bad news. The rearmament program is lagging so badly that the peak in expenditures, originally scheduled for next July, will not be reached until October, 1952. Most of the lag, said Wilson, has been caused by temporary bottlenecks in fabrication and assembly, not by manpower or raw materials shortages. In the last three months, he estimated, deliveries of military goods rose by one-third to $5 billion. Wilson expects them to double within the next year...