Peaceful Preparations

The American Government is going ahead with plans to build up stocks of raw materials required for war. In two years the expenditure on purchases at home and abroad will amount to well over £100 million. Is this good news? The Manchester Guardianrather thinks it is: “This plan will incidentally provide other countries — in particular British Empire countries — with dollars to supplement those earned from normal exports to America.” (February 14th, 1947).

“This,” says the Guardian, “is particularly welcome now that the world banks’lending plans are hanging fire” ; not to mention the fact that the “purchases made inside the United States will also help to ward off the much talked-of ‘business recession’ there.”

Thus in one short news item two war-time hopes, of no more war and no more trade depression, are forgotten and here we are back in the pre-war atmosphere of being glad that war preparations keep trade going !