Word: rearmaments
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Actually most of France's industrial recovery can be attributed to rearmament and to slightly better business conditions throughout the world. Unemployment in France increased by 53,000 from October to February. Foxy Paul Reynaud boasted: "That amid the international events of the past few months France has been able to rebuild and increase her forces proves beyond a doubt the robustness of her economic organism, the solidity of her social structure, and the suppleness of her institutions." A more dispassionate judgment was the London Economist's which saw in Paul Reynaud's recovery no vindication...
...passed, no edict issued. Investors were simply advised that their cash is needed at home to finance rearmament, that the pound sterling must not be weakened by further flight of capital. This step towards totalitarian economics produced no excitement. Sir John simply wished, and British-fashion, business "assented...
Since January, Sir John has been planning to float a rearmament loan of $1,500,000,000-three times as much as the British have spent buying U. S. securities since 1935. For some time he has been hinting that he could not raise all this money so long as Englishmen remained free to put their investment cash into U. S. securities. Meanwhile, since 1935, Englishmen, fearful of war, had shipped $500,000,000 to the U. S., now have about $1,000,000,000 invested in marketable U. S. securities. Silent pressure has gradually reduced the flow, since first...
...rearmed can unite the world." They signed at the urging of handsome Henry Wilfred ("Bunny") Austin, British Davis Cup tennis player, now Dr. Buchmairs chief MRA-sayer. Sportswriter Vidmer thereupon remarked that, before preaching such doctrines. U. S. sportsmen might well clean up U. S. sport. He concluded: "Moral rearmament, as it is described by the disciples who have brought it to these shores, is magnificent and magnetic, but it also is a mammoth undertaking. It must be universal and unanimous...
...from $79. Aircraft stocks as a group were down a little more than 14% from their 1939 highs compared to a drop of a little less than 14% by the average of all industrial stocks -a fine performance for supposedly promising new war babies during an era of rearmament...