RELEASE OF STOCKPILE
Problems For U.S. Economy
(N Z.P.A.-Reuter—Copyright) WASHINGTON, Feb. 14.
The United States Government's stockpile of strategic! materials will have to bei sold slowly, perhaps over 10 years, to avoid a severe: shock to the economy, according to senators who have' studied secret reports on the; subject. They said that the Government had set aside a supply of aluminium and rubber that was half again as much as would be needed for a three-year war. About 1000 million dollars had been invested in each of these commodities. About two million tons of aluminium and one million tons of rubber presumably could be sold for a profit at present prices, providing a way could be worked out to dispose of them gradually. If such quantities were thrown on the market too suddenly, it probably would drive down prices. Rubber and aluminium were the main problems, the senators said, but zinc and lead also faced probable losses if they were sold too quickly. The question of disposal of the stockpile items probably will be one of the major problems facing a Senate sub-committee which is now preparing to act on President Kennedy’s order for an inquiry into stockpiling.
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Bibliographic details
Press, Volume CI, Issue 29748, 15 February 1962, Page 7
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198RELEASE OF STOCKPILE Press, Volume CI, Issue 29748, 15 February 1962, Page 7
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