U.S. heavy industry has long been haunted by a nightmare: in building up the U.S. for war, it may well have overbuilt it for peace. Last week, news from Washington turned the nightmare into a beautiful dream: in the works is a U.S.-Russian trade pact under which Russia would buy $10 billion in capital goods in the U.S. in the first three postwar years.*

For months, U.S. emissaries have been quietly sounding out Premier Stalin and other top Russians on such a pact. They have found them just as eager to buy as the...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!