Word: rearmaments
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...where Labor leaders faced the rebel, Chancellor of the Exchequer Hugh Gaitskell put aside his donnish suavity for a hard go at Nye Bevan. "He hit me hard," said Gaitskell, "so I'm going to hit him back." Though many members sympathized with Bevan's argument that rearmament should not lower Britain's standard of living, they were angered by his threat to split the Labor Party. Under pressure, Bevan finally went along with his colleagues in a pledge not to take part in any action likely to endanger party unity. But Attlee was not yet reassured...
Protests against dentures and spectacles charges were as mere grains of grit compared to the big rocks the Tribune hurled at Chancellor of the Exchequer Hugh Gaitskell-the issues of price rises, the extent of rearmament, and its encroachment on the welfare state. In short Gait-skell's budget said that Britain had to make some sacrifices of living standards and social services in order to rearm. Bevan & Co. insisted that social services must all take precedence over defense. To avoid this very clash, Attlee on Jan. 18 had moved Bevan from Minister of Health to Minister of Labor...
...business weathered the dislocations of rearmament and the impact of higher taxes? To find out, businessmen kept their eyes cocked anxiously on 1951's first-quarter earnings reports. Last week, as report after report told of alltime record sales and profits, it was clear that business had outperformed its expectations. Out of 176 companies which have reported so far, 135 had chalked up bigger net profits than in the first quarter...
...Rearmament's Bulge. Rearmament's demands had also perked up many an industry, notably aluminum. Reynolds Metals net jumped from $1,454,257 to $5,696,031, a 300% rise. Big American Woolen Co., which has either a feast or a famine, watched its profits soar from a moth-eaten $230,000 to $1,095,000. And the once-sputtering airlines were purring like jets: American turned a $1,331,285 loss into a $2,914,610 profit. The building boom, nipped by restrictions on private housing, had merely shifted its base to the bigger boom of expanding...
...described the current task as one of rearmament, in which American armed forces must be kept at three to four million and technological resources must be exploited. President Conant added that peace could be won, in time, by a constant show of strength...