Word: truce
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...issue was ever settled by amilitary armistice; it is what is done after the armistice that counts. At the time of the Korean truce-signing, Illinois Senator Paul Douglas remarked wryly that if the truce "had been put through by Truman and Acheson, there would have been cries throughout the country to impeach them." Douglas was probably correct, but not in the sense that he intended. The U.S. had accepted a Korean armistice because it trusted Dwight Eisenhower to make the most of the uneasy peace to work out a firm approach to Communism in Asia-something that Truman...
...going on around them." An Army psychiatrist thought he knew why: prisoners learn to dull their hopes, accept their lot, and live only for the day; the men of Little Switch, abruptly given freedom, were still in that mood. But this week's prisoners, knowing of the truce, have had a chance to stir memories and anticipations...
According to Marxian dialectic, capitalists foment wars to boost their profits. According to an old Wall Street saw: 'Peace is bullish." Last week the hardbitten traders on the New York Stock Exchange proved the old saying right and Marx wrong. In the first few days after the Korean truce, the Dow-Jones industrial average advanced six points to 275, the highest level in two months, and ended July with the first monthly gain since last December. At the beginning of this week, the average continued the rise...
Ever since the first truce meeting two years ago, there have been repeated "peace scares"-loose talk based on the uninformed belief that the war's end would send the economy into a tailspin. But businessmen were singularly unruffled when peace came. Around the country, they saw little change in the economic outlook. In Seattle, where the Boeing Airplane Co. payroll affects one person in six, Boeing President William Allen said the company's employment there would remain at 30,000. In Dallas, Economist Fred Carlson of Dresser Industries predicted: "Whatever reduction there may be in defense expenditures...
...rosy corporate earnings continued to pour out. Second-quarter net profit of General Motors was $162 million v. $142 million a year ago. U.S. Steel's second-quarter net was $55,640,806, up from $22,218,922 a year earlier. Summing up the effects of the truce on the U.S. economy, Jones & Laughlin Steel Corp. Chairman Ben Moreell declared: "A war economy is a destructive thing . . . The farther we go down the road to peace the better off we will...