Show National Whirligig I IBy By fly Ray Tucker WASHINGTON The WASHINGTON The The navy has released a document explaining ining the facts and philosophy which underlie the renegotiation of billions of dollars of war transactions In a an apparent answer to widespread criticism that these reviews revies s upset industrial planning and eliminate eliminate eliminate nate financial gains the n navy vy insists that manufacturers manufacturers manu manu- are making big money from the government gov- gov gov gov- War contracts have been b en profitable the review says A A few major navy contractors have published income st statements for the first nine months of this year 1942 Du During ing nine months these companies companies' earned a larger aggregate profit af after tec taxes than they enjoyed on the average average average aver aver- age during 1936 Obviously their aggregate profit for all of 1942 will further exceed their 1939 1936 average Their larger profits in spite of heavier taxes arise out of the enormous volume volume vol vol- ume time of war war business S Profits are spotty None of the companies companies' is operating at a loss alth although ugh some of them did occasionally during 1936 A few of them probably will not net during 1942 as much as they averaged during 1936 1936 39 Half of them however how ver have already earned after taxes moreIn more morein more morein in nine months of 1942 than they averaged annually annually annually an an- during 1936 S We are told that the tax law will eliminate the possibility of ino inordinate profits Actually the tax law cannot ciot do so In other words Uncle Sam is is' is going to get tougher than ever Both services hope to recoup a total of almost 20 billion dollars Why Wallace Was Picked for Speech The selection of Vice Vi e President Henry A. A Walt Wai lace rather than the secretary of state to deliver dellver the address outlining our postwar program was due partly to the fact that he heads the greatest global organization In the world today today the the board boardS S of economic warfare F. F D. D R R. R appreciates the possibility y of this agency so keenly that he sided with the Iowan lowan in an intramural controversy against such able cabinet members rs as Cordell Hull Hulland Hulland Hulland and Jesse Jones In a brochure bro hure the VP V. V P. P explains though he not say so openly th that t the B BE BEW B W W. is an economic League of Nations in itself Describing Describing ing big his main objective as one of obtaining strategic strategic strategic stra stra- materials for the allies and preventing pr venting them from reaching th the en enemy my he continues It It is thus clear r that export control in this new role be becomes omes o only ly one part of a vast International international international inter inter- national undertaking which Involves foreign relations re l lations tIOn international exchange shipping and rail and truck transportation as well involves technicians technician technicians tech tech- engineering development labor health housing capital S It is not an isolated little negative force by Itself but part of the entire war effort which seeks to marshal all the forces of the united nations nations na na- na- na for complete o and absolute victory over tyranny everywhere It really comes d dOn Wn to a a. gigantic job of coordination Reverse Installment Buying Opposed Commercial bankers and manufacturers of consumers consumers' goods have cracked down on Rolf Roll Nugents Nugent's scheme for Installment buying In reverse reverse reverse re re- re- re verse as a means of preserving pr pros pros- s- s They are inclined to regard it as a move which would give the government complete Control don Con on- on of the production and purchase of commod commod- lUte Ma Many y important people consider the 0 OP P A officials official's plan desirable but quite impracticable A A questionnaire circulated among financiers makers of durables and leading stores brought such answers as these Wishfully thinking of course we would like to see something come of it My enthusiasm leans toward yes but the hard business side of me dictates no Certainly not for far the retail business Women Wom n nare are too shrewd to buy anything they haven't seen or tested We Ve dont don't think it will make a dent In the steady inflation spiral so obviously begun Only a stiff retail sales tax and curbs on all wages and all prices will have a 11 chance ch ce to do that i No Need for Secrecy Any L Longer nger White War House officials have been subjected to serious censure because of earlier refusals to hand out unfavorable war news to the nation The decision to permit newspaper publication of full casualty lists list amounts to an admission of mistaken policy But the top rankers who insisted on withholding with holding facts have an the record explanation which seems logical When the United States had comparatively few units on the key battle battlefronts battlefronts fronts frona listing our losses and the outfits eng engaged ged Would have furnished the enemy with helpful information By keeping Americans in the dark we also placed axle axi intelligence agents on a seat of uncertainty The foe could not learn how large or ar effective was our contribution in soldiers and supplies or tho the rate at which we were swinging swing awing ing tag into industrial and military activity But now that we have ha more than a million troops scattered throughout the universe universe and and the number ia in increasing every day there day there is no reason to pursue a a. secretive course And within a a. lew few months the war production board will begin begin be be- gin gui to announce monthly totals in the manufacture manufacture ture of planes rifles machine guns motor ve- ve hides etc Such Such a a. stage of output has hai been reached that knowledge of it would cause no cheering in Berlin Rome or Tokyo okyo Copyright 1943 1913 by McClure Syndicate t I 1 Yf |