RECOVERY: Billion Pumped

Harold LeClair Ickes, master of PWA, proudly radioed seafaring President Roosevelt last week that the gauge on his Public Works pump had ticked past the billion-dollar mark in 30 working days since the President signed the Lend-Spend Bill. It was still pumping at the rate of $5,532,510 worth of work per hour. To produce a billion's worth of work, PWA had earmarked nearly two-thirds of its new $965,000,000 (States & municipalities supplying the balance), and still projects were pouring in for approval.

Next Mr. Ickes told the country that he had made a deal...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!