Word: rearmaments
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Economic difficulties are compounded by the government's troubles abroad, e.g., the loss of oil and prestige in Iran. Dissension rocked the Labor Party. The rebel Welshman Aneurin Bevan and other left-wing Laborites cried out against putting rearmament before social welfare...
...Congress continued hunting for the tax billions to pay for rearmament, Manhattan's National City Bank warned that the popular game of "soaking the rich"-and the U.S. corporation-has about reached its practical limits...
...With rearmament, Douglas Aircraft began fleshing out to something like World War II proportions. It now has a whopping $1 billion backlog- outranked only by Convair and Boeing-for fighters, transports and attack bombers. Douglas is now the only U.S. planebuilder making planes driven by every existing form of aircraft propulsion: piston engines, turboprop, jet and rocket. Employment has climbed to 45,000 and is expected to reach 100,000. Moreover, Douglas has plowed $1,000,000 into a Santa Monica, Calif. plant, where it is now building guided missiles for the Navy (the Sparrow) and the Army (the Nike...
...super-super-priority, which gives machine toolmakers first claim on any machine tools they may need to expand. But that, as Berna pointed out, will not supply steel. And this week DPA recognized a new claimant for steel; it is considering supplying 800,000 tons for Britain's rearmament program...
...short, the expected pinch in goods has arrived just when the supply of confusion over how to mesh rearmament with the civilian economy is more abundant than ever...