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Updated: June 9, 2025
Total goods produced and services rendered for private as well as for Government purposes the Nation's budget-reached about 200 billion dollars in the calendar year 1944. Federal, State, and local government expenditures represented half of this total. Corresponding estimates for the past 3 months depict the national economy in the process of demobilization and reconversion.
This law does not specify that the ban shall be lifted with the signing of peace but with the termination of the demobilization of the troops and I cannot say that that has been accomplished. My information from the War Department is that there are still a million men in the service under the emergency call.
By the end of June, 9 out of 10 who were serving in the armed forces on VE-day will have been released. Demobilization will continue thereafter, but at a slower rate, determined by our military responsibilities. Our national safety and the security of the world will require substantial armed forces, particularly in overseas service.
Further cut-backs and accelerated demobilization have made possible an additional reduction in the rate of war spending. During the first 6 months 32.9 billion dollars were spent. It is now estimated that 16.1 billion dollars will be spent during the second 6 months, or a total of 49 billion dollars during the whole fiscal year.
One night they are discussing the present social order, and what is wrong with it; they are dealing with bad housing, employment, low wages, the cleavage between the rich and the poor, industrial oppression, and social injustice. The next night they consider the dangers of demobilization. What will be the effect upon hundreds of thousands of women workers?
If you do not intend to lift the ban on July first, you can announce your intention to suspend it as soon as the War Department notifies you demobilization is accomplished which, the best opinion says, will be August first. The feeling all over the country is one of harmful uncertainty and I strongly recommend that a definite announcement, of some nature which will clear the atmosphere, be made.
The period of demobilization and reconversion is fraught with uncertainties. There are also serious gaps in our statistical information. Certain tendencies are, however, fairly clear and recognition of them should serve as background for the consideration of next year's Federal Program.
The period of demobilization and reconversion is fraught with uncertainties. There are also serious gaps in our statistical information. Certain tendencies are, however, fairly clear and recognition of them should serve as background for the consideration of next year's Federal Program.
It is probable that demobilization of the armed forces will proceed faster than the increase in civilian employment opportunities. Even if substantial further withdrawals from the labor market occur, unemployment will increase temporarily.
I stated that if in the course of the Austro-Serbian quarrel Russia were to mobilize, Germany would at once answer by general mobilization and war. For there will, then, I added, be no demobilization but an armed conflict.
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