Word: chartes
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King on the Future: Admiral King did not attempt to chart the course of the second year. But he was hopeful; he clearly intended to maintain and step up the Navy's offensives. At the approach of the second Dec. 7, he still believed what he said early in the first year: "Our days of victory are in the making...
While the group does make occasional recommendations of its own, its primary interest lies with the attempt to correlate the mass of statistical data collected by almost every governmental agency. Up to 15 experts have been working on such projects as a chart showing the relative importance of every large industry, the sources of its materials, and the uses to which its products are put. Requiring an area measuring 12 feet by 13 feet, this particular chart cost the government over...
...accompanying chart shows the trend of Treasury borrowing in each of the four six-month periods since the fall of France, when U.S. war spending began in earnest. Though purchases of bonds by individuals and saving institutions have increased in every six-month period since 1940, the net sales of bonds to banks has gone up from $1.3 billions per six months to $5 billions. The commercial banks now hold about $26 billions of Governments. By the end of 1944 Federal Reserve officials estimate they may hold $100 billions...
Worse still, the Federal Reserve itself has done a little buying, may have to do more, as it did in the case of the last Treasury issue. Then the system found it advisable to purchase over $400 millions (not shown on the chart, since the purchases were made only last month). Such buying by the Federal Reserve is close to outright greenback printing and, if it ever reaches a large or continued scale, would have much the same effect...
William Snower '44 provides the theory. For clear thought and able synthesis of pertinent material, his "Theory of Planning" excells any undergraduates article printed by the Guardian in several years. Its author is examining a problem which underlies any attempts to chart social reconstruction: namely, the possibility of predicting the effect of any concrete governmental policy. After citing and evaluating authorities from Plato to Sorokin, Snower concludes that the only solution is pragmatic experiment. Presenting original thought on provocative questions is one of the Guardian's chief functions; this article exemplifies that function at its best...