In recent weeks more crepe has been hung on the U.S. machine-tool industry than on all other war industries combined.
Gist of the funeral orations: 1) the U.S. war plant is now substantially built, therefore the U.S. hunger for machines to build the machinery is almost satisfied; 2) the wartime production of new machine tools will leave the postwar U.S. with enough tools to starve every builder out of the business. Conclusion: the industry is firmly, patriotically digging its own grave.
Some facts support the grave-digging theory. In the prosperous '20s the...
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