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Show ! WEEKLY NEWS ANALYSIS , I Biggest Air Raids on Jap Targets I Coincide With Invasion of Borneo; Vinson Outlines U.S. Postwar Plan Rf'ipgpH bv Western N"wsp;iDer Union -J (KUITOIt'S NOTE: When opinions are expressed in these columns, they are those of I Western Newspaper Lnion'i news analysis and not necessarily ol this newspaper.) BIGGEST RAIDS: On Jap Targets Nearly 600 Superfortresses, In a record raid on the Jap homeland, dropped some 4.000 tons of incendiary incendi-ary bombs on four of the empire's industrial cities. The targets included in-cluded Kure, Shimonoseki, Ube and Kumamoto. Kure is Japan's greatest great-est naval base on the Inland sea; Ube is a principal coal center and rates first in the empire's production produc-tion of magnesium; Kumamoto is a military training center. None of these cities had been previously pre-viously fire - bombed. This raid brought to 22 the number of Jap cities to be scorched by incendiary attacks. Up to this time Tokyo had suffered greatest from B-29 incendiary incen-diary attacks, the heaviest B-29 fire raid having been made on the Nip capital on May 23, a raid in - which 550 of the huge bombers par-ticipated- Shimonoseki, with a normal population popu-lation of 196,000, is a vital bottleneck bottle-neck of Nipponese rail transportation. transporta-tion. Much of the coal required for the war plants of Honshu must pass through Shimonoseki, which is the southern terminus of Honshu's railroads. rail-roads. RECONVERSION: Vinson's Postwar Plan War Mobilizer Fred M. Vinson, without promising that Japan will fall soon, has announced his postwar post-war economic charter, which he says must be ready to swing into action the day Japan falls or before. be-fore. When V-J Day arrives, states Vinson Vin-son in his report to the nation, the fewer war workers that will have to be absorbed, the smoother will be the transition. His plan immediately immediate-ly following V-J Day calls for an immediate im-mediate reduction in taxes, for industry in-dustry and individuals, which will increase purchasing power. Proper use of the country's vast reservoir of liquid assets 230 billion dollars or three times the 1939 total, will : HI 1 FRED M. VINSON be a self-starter for postwar economy econ-omy if planned right. Other points in his program call for federal aid to foster small business busi-ness and encourage the birth of new business; vigorous anti - monopoly program; reduction of industrial strife and a higher wage policy of industry; blanket indorsement of Bretton Woods; expansion of unemployment unem-ployment compensation; raise standard stand-ard of living for the farmers; and fiscal policy to maintain economy at or near full employment. PEACE PACT: Senate Action A United Nations charter, which envisioned the world's hopes for an enduring peace, was presented to the senate by President Truman, who appeared before that body personally. per-sonally. Little opposition was at first apparent to the new world league and an overwhelming majority major-ity of the senators seemed in favor of its acceptance. Fifty nations whose representatives representa-tives had gathered in San Francisco framed the charter which is designed de-signed to prevent aggression by force. Approval of the document by the U. S. senate, Britain, Russia, China, France and 23 other nations will establish the new world league for peace. President Truman's historic plea for acceptance of the charter was made where, 26 years ago, Wood-row Wood-row Wilson stood to plead, unavail-ingly, unavail-ingly, for a similar cause. The document was flown from San Francisco to Washington and delivered deliv-ered to the President by Alger Hiss, state department official, and secretary sec-retary of the world peace conference. MUSHROOMING DEBT: America's national debt was a little lit-tle under 1 per cent of the country's national wealth a century ago today to-day it is 65 per cent, according to a study by Northwestern National Life Insurance company. The average aver-age per capita share of the national debt is $307. compared with $2.77 a century ago. The enormously increased proportion propor-tion of public debt to national resources re-sources points to the need for vigorously vigor-ously maintaining business activity. ANOTHER GOAL: Borneo's Oil Australian troops, with supporting American and Dutch units, all led by General MacArthur landed three miles east of Balikpapan, Borneo's oil center, the richest oil center of the Dutch East Indies. This was the General MacArthur who exposed himself under fire on Borneo. third operation in Borneo by Australian Aus-tralian troops since May 1. The landing was made after the heaviest naval bombardment of the entire Pacific war. The naval and aerial bombardment continued for 10 days before the troops went ashore, and during this time cruisers cruis-ers and destroyers paraded up and down the invasion coast, blasting everything that was seen to move. Balikpapan is 320 miles down the coast from Tarakan island, where the initial Borneo landing was made. Allied troops, supported by tanks, fought through groups of Japs to the top of an important ridge. The Japs fled northeast in every type of vehicle they could lay their hands on. Landing losses were light, and resulted re-sulted mainly from mortar, small arms and artillery fire. The importance of taking Balikpapan Balik-papan is clear from this: In peacetime peace-time its plants produced 2,500,000 gallons of gas weekly. This landing in Borneo, according to General MacArthur, secured the domination of Borneo and split the East Indies, virtually completing Allied tactical control of the entire S. W. Pacific. More than 300 ships . were in the Allied invasion fleet, which included in-cluded the U. S. 7th fleet and Australian Aus-tralian and Netherland units. OPA EXTENDED: Agriculture Gets WFA Price controls of the OPA were extended for another year when President Truman signed the bill at Kansas City, just in time to prevent the powers of the Price Control and Stabilization act from automatically expiring. The necessary papers were flown to the President, who was returning from San Francisco. In renewing the OPA, President Truman declared that stabilization controls must be continued into the postwar period. "We must always remember that it is the war, not these agencies, which is responsible for these shortages and hardships," he emphasized. Another important move to improve im-prove overall production and distribution distri-bution of food was the placing of the War Food administration directly direct-ly under the control of the new secretary sec-retary of agriculture, Clinton Anderson. Ander-son. In commenting on this action, ac-tion, the President stated that he "was glad congress did not disturb arrangements for co-ordinating the stabilization and reconversion programs, pro-grams, and for settling the differences differ-ences among the agencies." DANGER: In September With the "Mighty Seventh" war loan drive ended, if the usual practice prac-tice is followed, September will see thousands of bondholders rushing to the bank to cash in on their "E" bonds when they fall due. During campaigns, few bonds are offered for redemption, but after the campaign is over an "organized" movement gets under way to redeem re-deem those that are 60 days old. If previous figures are any indications it is to be expected that 50 per cent of the bonds will be turned in at banks before they mature most of them during September. More Metal Freed The War Production board announced an-nounced that it was freeing all available supply of metal for civilian civil-ian goods that is metal that is left over aiter all war needs have been met. It also began to scrap its priority pri-ority system for all but munitions items. This does not mean that civilian production can begin full production. produc-tion. Many items will not be on sale for another year, and few will become be-come plentiful within the next five or six years. HOME FRONT: House Buyers Revolt War-boomed realty inflation prices are being punctured on the West coast by a buying public that has become choosey and harder to sell. This buyers' rebellion of homes has resulted in prices in San Francisco, Fran-cisco, Los Angeles and Portland falling from 10 to 15 per cent and with little interest being shown except ex-cept when bargains are offered. So far Seattle is selling at peak war prices, when sales are made. Realtors state that the buyers' rebellion re-bellion is not caused by war plant lay-offs, but rather by the fact that purchasers of homes want a new postwar model and are not willing to invest much capital in prewar style houses. Publicity given to the "dream house of the future," has done much to lower buyers' demand for inflated priced older homes. Dealers are upset because they believe that bright forecasts are premature and the public is being led into false hopes. Th,ey cite the announcement of Henry Kaiser's announcement an-nouncement of an ideal home for $5,000. They say this same house would have to be sold from $7,500 to $8,000, so buyers are waiting wait-ing and prices are returning to normal. nor-mal. GOVERNORS MEET: Charter Approved The 37th annual governors' conference con-ference was held at Mackinac Island, Is-land, Mich., to help win adoption of the world peace charter framed at San Francisco by 50 participating nations, and to deliberate on postwar post-war problems. The conference lasted last-ed three days. Forty-three state and territorial governors were present. Among the speakers was Comdr. Harold E. Stassen, former governor of Minnesota, Minne-sota, who played a key role on the American delegation to San Francisco. Fran-cisco. Governor Dewey of New York, at a press conference, urged speedy adoption of the charter without reservations. res-ervations. CABINET: Five New Members With the appointment of James F. Byrnes as secretary of state and the swearing in of four new appointments. appoint-ments. President Truman's official family has in fact as well as name become reconverted. i Byrnes has had a varied public career. He was elected to the house of representatives in 1911 and served until 1926, when he failed in a try for the senate. He was elected to the senate in 1930 and during his second term resigned to become a member of the Supreme court, leaving leav-ing in 1942 to head the nation's war agencies. Others who have taken over cabinet cab-inet duties include Clinton P. An- s 1 - v Jf " 4 i - i - $ i ' s V ''M 't 1 v i -1 James F. Byrnes appointment met prompt senate approval. derson, until now a congressman from New Mexico, who became secretary sec-retary of agriculture; Lewis B. Schwellenback, former senator from Washington and former federal district dis-trict court judge, who was sworn in as secretary of labor; Robert E. Hannegan of St. Louis, chairman of the Democratic National committee, who became postmaster general, and Tom Clark, an assistant attorney attor-ney general from Texas, who assumed as-sumed the post of attorney general. Anderson, upon taking office, promised to bring about an improvement improve-ment in the food situation. FOOD CROPS: Frost Factor While the pea canners have been able to keep their promise that they would process more than in 1944, other canners, hampered by not so favorable growing conditions may fall short of their goal. As late as April, all processors believed that they would have record runs. Apparently the canners will reach their allotment on canned fruits, but if they do, the winter supply oi fruits will be short. It looks instead as if some fresh fruits will be put on the market at the expense of the canned items. Fresh vegetables are now getting easier to find and it begins to look as if the potatoes, beans and rice for storage will be adequate. California, Cali-fornia, with one-fifth the country's tomato acreage, expects a norma! crop, while Indiana with 95,00( acres is having its trouble. West coast's fruit canning has got ten off to a good start and prospect! are good there, while the middlf west and eastern states will haw little to offer canners. It is still too early to be sure about the corn crop. This will de Dend urjon the first frost date. |