AMERICAN WAR PRODUCTION

Dominion, Volume 34, Issue 80, 28 December 1940, Page 9

AMERICAN WAR PRODUCTION

Full Effect Year Hence OPINIONS OF LORD LOTHIAN (British Official Wireless.) RUGBY. December 26. Sir Walter Layton, the wellknown economist, who has just returned from a Government mission to the United States in relation to supplies from that country, spoke today of the last fortnight in the life oi Lord Lothian, late British Ambassador.

Lord Lothian was particularly preoccupied with the financial position and had been criticized in some quarters in both countries for having spoken bluntly about the dollar position when he lauded from the clipper in the United States after his recent brief visit home. Sir Walter Layton said he knew that Lord Lothian had deliberately made up his mind, having given the matter great thought when he was held up at Lisbon before crossing the. Atlantic, that American opinion ought to have regard for the fact that finance, of all problems, had to, be regularized. He was certain till the end that his judgment was correct, and his view had been amply justified by recent statements by Mr. Roosevelt regarding his own solution of the dollar exchange problem arising out of British war supply orders placed in the United 'States. Sir Walter added that in November there was a certain feeling of pessimism in America about the outcome of the war, to which such episodes as the bombing of Coventry had contributed, but this had been completely changed by the news of the Greek victories and tlie British successes in Egypt. The courage of the British people, who had been bombed in English towns, had created a stupendous effect in America. Sir Walter said in conclusion that the British must not expect miracles. The full effect of the American war potential would not be felt before late in the summer of 1941 and would not reach its apex till next winter and the the spring of 1912. Full mass war production would still be organized, with consequent effect on peace production—a unique task to be undertaken by a non-belligerent country—-but it would come in huge volume and if Britain could hold her own throughout 19-11 then American production would make ultimate victory certain.