WAR FINANCE

Wairarapa Times-Age, 24 June 1942, Page 4

WAR FINANCE

AMERICA’S EXPANDING EFFORT REMARKABLE FIGURES. VAST OUTPUT OF PLANES. (By Telegraph—Press Association —Copyright) (Received This Day, 12.5 p.m.) V,'■ASHINGTON, June 23. The House of Representatives Appropriations Committee approved a 24,820,000,000 dollar Army supply bill, the largest yet introduced, bringing the total cost of defence and war for three years to 205,141 million dollars. A committee report said the War Department regards the present situation as the most critical ever encountered. The appropriation measure includes 12,700,000,000 dojlars for war materials for the United Nations, bringing to 62,945,000,000. dollars the total of lendlease aid approved. Congress also includes 11,317,000,000 dollars for 23,550 planes, completing President Roosevelt’s programme of 60,000 planes this year and 120,000 planes in 1943, and an Army of 4,500,000 men. The committee reported that voluntary refunds from war contractors indicated that large economies were forthcoming, these amounting at present to 1,137,000,000 dollars. General Arnold said the Army’s share of President Roosevelt’s goal of 185,000 planes in two years would be 148,000 planes. The production goal, he said, had not only been reached, but had been exceeded, and the aircraft factories were geared considerably higher than the 1943 objective. Moreover, the Army must face terrific training and procurement problems, at the same time engaging the enemy in vigorous offensive action wherever he can be found. Brigadier-General Clay said the fighting services face a 250,000 ton rubber shortage in 1943. Representative Snyder, chairman of the Appropriations Sub-Committee, said the United States was now spending for war 38 per cent of the national income, compared with 45 per cent in Canada, 55 per cent in the United Kingdom and sixty per cent in Germany.