It was Gloom Week in Britain. The Labor Government got around to telling the people some of the hard facts of their economic life. On the eve of Parliament's reassembly it issued a White Paper, chocked with black news. Britain's position was "extremely serious." The U.S. and Canadian loans "only give us a short breathing space." The country was "still running into debt Abroad." In 1946 its imports exceeded exports by $1,312,000,000. Its manpower shortage was grave: 500,000 to 700,000 more workers were needed in export industries if the trade balance was to...
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