Tariffs, Cartels, And The Mineral Industry

AFTER the first session which Secretary Marshall had with the Foreign Relations Committee, the members of the press asked what he had said His only comment, in summarizing his two-hour conference was, "The world is in a very critical condition " Undoubtedly he had many different aspects of the world in mind, but I wish to underline today the truth of the statement with reference to the economic field V-E day was 22 months ago, V-J day was 19 months ago The hoped-for world of peace and plenty gives signs of attaining the peace, but the plenty seems tragically remote For great areas in the world, the present level of economic activity is very, very low Men are not working, goods are not being produced, whole areas of activity suffer from economic paralysis We in this country do not fully appreciate the situation because the United States is above prewar levels in economic activity We are the exception The same cannot be said for the world in general There are still large areas where industrial activity is not more than half the prewar level