Word: rearmaments
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...return, to give some 2,000,000 of them an opportunity actually to pay. "Muley" Doughton & colleagues proposed to lower the minimum taxable income from $1,000 to $800, reducing the exemption for married citizens from $2,500 to $2.000. Effect of these and other changes in the Rearmament revenue measure which Chairman Doughton introduced last fortnight was to up its prospective annual yield (for the next five years) from $656,000,000 to $1,004,000,000-a little more than a fifth of the total Army-Navy estimates which House and Senate last week rushed toward passage...
...anything in Washington was clear last week, it was that Franklin Roosevelt proposes to superintend the harnessing of U. S. industry to Rearmament (see above). To help him in that job, he chose six men and a woman teacher whose backgrounds are as varied as their task is huge. To a business-conscious U. S., businessmen are reassuring, and the President had named three first-rate captains of industry: i) huge, grey-blond Signius Wilhelm Poul Knudsen, 61, Danish immigrant boy who graduated from shipyard riveting to the presidency of General Motors Corp., a ponderous, accented, self-made...
...capabilities of these seven citizens were plain on their records. They can do exactly as much for the President, the U. S. and Rearmament as they are allowed...
...prime cause of war more firmly held. Lord Grey's statement in 1914--"the enormous growth of armaments in Europe, the sense of insecurity and fear caused by there, it was these that made war inevitable"--was quoted again and again by the successful opponents of British rearmament. Senator Borah expressed the equivalent American opinion, in voting against the naval appropriations bill of 1928 when he said, "One nation putting out a program, another putting out a program to meet the program, and soon there...
...citizens accustomed to peacetime defense budgets, these sums read like full-dress Rearmament. Fact was that for the Army-which needed and got most of the emergency funds-it was only partial rearmament and on a 1938 scale. If the U. S. thought it could arm itself against these times at such small cost, or that its present military establishment could digest even such comparatively small sums, it still had another illusion to meet and overcome. Aircraft excepted, about all the Franklin Roosevelt's initial estimates could do was provide what the Army thought it needed before Hitler...