Last week the Administration announced a new policy for increasing stockpiles. It was a turnabout from the policy laid down only five months ago. Then, the Office of Defense Mobilization had ordered a slowdown in stockpile purchases on the ground that the piles were about big enough. What had happened since November to cause the switch?
The announced reason for increasing stockpiles, which now contain $4.3 billion worth of materials, was that war might cut off the flow of strategic materials. Actually, the Administration was making a strategic virtue of economic necessity. Prices for many metals...
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