The Age of Magic Money
Can Endless Spending Prevent Economic Calamity?
"America's brilliant, if pitiless, war industry had entered the service of patriotism and had not failed it. Under the compulsion of military necessity a ruthless autocracy was at work, and rightly, even in this land at the portals of which the Statue of Liberty flashes its blinding light across the seas. They understood war." -- Field Marshal von Hindenburg.
THE United States is again building a war machine which it hopes to make even more efficient than the one which elicited this praise from the German commander in his autobiography. Appropriations for the Army and Navy are the largest in the country's history except in time of war. More than that, the Government is laying plans, now in peacetime, to bring the full weight of its resources in men, materials and morale to the support of its armed forces in case it becomes involved in another great war. Unlike the