Word: rearmaments
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President Conant said in his address in the opening Chapel of the year that "only a few will be called up to give their entire time and energy to our vast program of rearmament. To the student the country says, continue with your studies until you are called for special duty..." Harvard should follow its President's advice, steering clear of as much emotionalism and uncalled-for "preparedness" as possible. If the boys have extra steam to let off--as the Defense League suggests--then let's try a big rally before the Army game...
WASHINGTON--President Roosevelt signed the excess profits tax-plan amortization bill, designed to speed rearmament, prevent growth of "war millionaires," and raise $1,000,000,000 annually of new revenue, the White House revealed today...
...part of industrialists" was the chief impediment to the defense program, 58.8% had friends who were chary about going heavily into war industry production. Their main misgivings, in order: i) difficulty of cooperating with an anti-business Administration; 2) delay in letting businessmen charge off the cost of new rearmament plants within five years; 3) fear that armament contracts will interfere with labor policies; 4) belief that armament profits will be too small to justify the risks involved; 5) a feeling that the emergency is not so acute as Franklin Roosevelt would have them feel...
...businessmen flatly disagreed with the President, voted that the U. S. could not prepare for total war without seriously amending some of the New Deal's social legislation. But 58.1% thought that the U. S. standard of living could be kept at present levels during the rearmament period, while 39.7% were certain that it would have to be lowered...
...were required to increase their production one-third in the next six months, manufacturers said they would have to hire more men (71.1%), get a longer work week (38.3%), curb the labor unions (29.5%), train skilled labor (30.6%), increase the production of supplies (26%), get new financing (19.9%). If rearmament or war started a sharp rise in prices, some (34.7%) executives thought the Government should fix prices, others (24.9%) favored a voluntary move on the part of trade associations to hold prices down, others (26.7%) were willing to let prices find their own levels...