Show american business Is on the upgrade up grade war believed largely responsible for betterment in industry business is is on the upgrade up grade in this country and going by some figures quoted recently by y publicist paul mallon the rise is taking place at a considerably more rapid rate than was anticipated during september industrial p production r touched equals the 1923 25 theoretical normal As september neared its close the rate of improvement tended to accelerate ce upshot is that the economists confidently expect that a production level of will be reached this month and further improvement they predict will follow during winter and spring of great importance is a decline in unemployment and a substantial increase in the national income the latter advanced 3 points between july and late september that moans means more money in the average mans pocket and a marked potential increase in the consumption of goods and services of all kinds there has also been an encouraging rise in total industrial dus du trial payrolls war responsible war is very lare elv responsible for the Petter betterment ment that mean art this country has as yet received any considerable amount of war business from europe but industry is getting ready for those orders and is operating 9 at a high pitch in order to make its purchases and prepare its finished materials As proof of this can be cited the fact that a large amount of the improvement is accounted for by the steel and machine tool industries steel output recently came close to 85 per cent of capacity an extremely high level the machine tool makers have been 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 the heavy industries have so far been the principal ones to benefit ae so b by the abnormal condill con conditions ditl ns according to air mallon c department store sales increased a meagre one per cent while indus trial production was climbing fast in other words c consumption has as yet not rivaled rial e d production that say the exports experts will come later arms anns industry repeal of the arms embargo and at this writing it looks as if the repeal advocates will win unless something new occurs between now and the end of october when a vote is expected would naturally create a practically new industry in this country the fabrication of 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 business ourselves instead of simply sending the 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 taking the s short hort term view it would be a strong bullish factor in our economy even though artificial and founded on a destruct destructive tive rather than a constructive foundation |