War and the U.S. Economy

Abstract

Earlier this year nearly all observers of the United States economic scene agreed that there would be a general leveling off or decline before the end of the year. Actually, the boom has continued. Why? The answer is contained in a recent dispatch by M.J. Rossant, a financial reporter for the New York Times. Since the dispatch was written while the Times was on strike, few of the paper's regular readers will have seen it. We reproduce the relevant passages from the Toronto Globe and Mail of September 28th. The headline is "U.S. NEAR SLUMP, THEN VIETNAM SAVES THE DAY." —The Editors.

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