NATIONAL INCOME: The Peak

The U.S. war economy is at its peak. Last week the Department of Commerce reported: the national income for the first half of this year was at the annual rate of $158 billion, and the gross national product (total amount of goods and services produced) was also at a new peak of $196 billion. This was a far greater increase over 1939's national income of $74 billion than even the most optimistic economic seer had foreseen, even allowing for the rise in the price level. Thus, in the peak year of war,...