Time: The Present

WAR & PEACE

Next -week the U.S. will face the third year of world-wide war.

In two years U.S. life and thinking have been changed far more than those who lived through them find it easy to understand. But sometimes some contemporary thing emerges, like a mark left on a building by a flood, to show how much the water level of life has altered. Such a mark is the August issue of FORTUNE, devoted entirely to the U.S. war effort and the effects of that effort on the U.S.

FORTUNE'S appraisal is based on...

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