The First Step

For about 18 months the Army, Navy and other war procurement agencies have quick-fingered a hot potato that never grew cool. The problem: How could U.S. war contracts be ended uniformly and quickly so that the industrial plant could speedily shift from one war product to another and reconvert without waste motion at the war's end?

When a solution seemed finally impossible, the hot potato was tossed over to Elder Statesman Bernie Baruch and his assistant, ex-Wall Street Banker John Milton Hancock. The two cooled it off in just two months and two days. Then the Baruch-Hancock combination presented Home...

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