Word: expansionism
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Dates: during 1940-1949
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¶Production of some critical materials, such as steel, was below demand. Give the President authority to study the situation and, if necessary, lend industry money to build new steel plants; and if the expansion still lagged, grant authority for the Government itself to build plants (see BUSINESS).
The Orajet is a 22-inch tube of trans parent plastic with a detachable nozzle on one end and an expansion bolt on the other. The whole thing weighs only two ounces. The user squirts toothpaste (about the same amount usually put on a toothbrush) into the nozzle, puts the...
Ready Answer. The rest of the industry had a ready answer to the President's challenge. Walter S. Tower, president of the American Iron & Steel Institute, gave it. In 1948, said he, the industry had added 1,800,000 net tons of capacity. This year and next it will...
Money Talks. Steelmen had some other plausible arguments against big expansion now. They pointed out that throughout the 1930s, capacity was far greater than the country's demand for steel. Even in recent years production has been below capacity because of strikes, shortages of scrap and coke, etc. But...
The most cogent argument against expansion was that it now costs an estimated $300 to add one ton of new capacity for finished steel (v. $75 prewar). Yet tax allowances for depreciation do not take the high replacement cost into account. For example, much of the cash being put in...