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Show Eccnomlc Highlights Happenir-.gs That Affect the Dinner Din-ner Pails, Dividend Checks and Tax Bills of Every Individual. National and International Problems Prob-lems Inseparable from Local Welfare. Business is on the up-grade in this country. And, going by some figures quoted recently by puo-licist puo-licist Paul Mallon, the rise is taking place at a considerably more rapid rate than anticipated. During September, industrial production touched 110 (100 equals the 1923-25 theoretical normal). As September neared its close, the rate of improvement tended to accelerate. Upshot is that the economists confidently -xpect that a production level of tij will be reached this month. And further improvement, they predict, will follow during winter and spring. Of great importance is a decline de-cline in unemployment, and a substantial increase in the national na-tional income. The latter advanced advanc-ed 3 points between July and late September. That means more money in the average man's pocket, and a marked potential increase in the consumption of goods and services of all kinds. There has also been an encouraging encourag-ing rise in total industrial payrolls. pay-rolls. War is very largely responsible Tor the betterment. That doesn't mean this country has as yet received re-ceived any considerable amount of war business from beleaguered beleaguer-ed Europe, but industry is getting ready for those orders, and is operating at a high pitch in order to make its purchases and prepare pre-pare its finished materials. As proof of this, can be cited the fact that a large amount of the improvement im-provement is accounted for by the steel and machine tool industries. in-dustries. Steel output recently came close to 85 per cent of capacity cap-acity an extremely high level. The machine tool makers have oeen working day and night. Coal has likewise found an eager market, as buyers rush to lay in heavy stocks. Fear of higher prices causes this feverish buying. buy-ing. The heavy industries have so far been the principal ones to benefit by the abnormal conditions. condit-ions. According to Mr. Mallon, department store sales increased a meagre one per cent while industrial in-dustrial production was climbing iast. In other words, consumption has as yet not rivaled production. That, say the experts, will come later. Repeal of the arms embargo (and, at this writing, it looks as if the repeal advocates will win unless something new occurs be-ween be-ween now and the end of October, Oct-ober, when a vote is expected) would naturally create a practi-CBlIv'iIeW practi-CBlIv'iIeW industry in this country ihj iaorication oi the materials of war. Mr. Roosevelt in his speech to the special session of Congress stressed this, saying that we might as well have the ousiness ourselves, instead of simply sending raw materials abroad to be fabricated there. Such an industry is obviously dangerous it would give many people a stake in war, as their jobs and incomes would depend upon its perpetuation. But, tak-.ng tak-.ng the short term view, it would be a strong bullish factor in our economy, even though artifical and founded on a destructive, rather than a constructive found-dation. found-dation. This is a curious war. There is more action on the diplomatic than on the military fronts. And more introst is today centered in the capitals than in events along the Maginot and Limes walls. All-important is what Russia will finally do. The Bear That Walks Like A Man is again the unpredictable power. Some argue! that Stalin has definitely thrown in wilh Hitler, and will, if necessary, neces-sary, send Red troops to fight with the Nazis. Others, including the American Communists and fellow-travelers, still hold that Russia moved into Poland only because she saw that the Poles were doomed, and that in the final analysis she will apply the brakes to the Germans. To the unbiased, it does seem that both Stalin and Hitler would have a tough time selling Prussian-Russian friendship to their respective peoples, after many years during which Russian spokesmen have damned the Nazis practically 24 hours a day and the Nazis have given the Russians the same treatment. Irrespective of that, the German-Russian trade pact has been a teriffic blow to England and France. The British naval blockade block-ade which finally determined the last war, has lost much of its effectiveness. Russia can supply Germany with everything she needs,- and under the terms of the pact she will do it. The little central European nations, which have long lived in fear of Soviet or Nazi domination, are rushing to make friends with the powers-that-be in Berlin and Moscow. |