Secretary’s Memoranda: Lot 53D444
Memorandum of Conversation, by the Under Secretary of State (Webb)
Cabinet Meeting, Tuesday, December 19, 1950
comparisons between our situation today and that of 1942
Secretary Marshall reported that he had been making some comparisons between our situation today and that which we faced in 1942. He indicated that the present public air of gloom did not take into account that whereas in 1942 we had almost no ammunition, we now have an inventory of between nine and ten billion dollars in this category. He indicated that although there were shortages in particular items of ammunition, this inventory was of very great value. He indicated also that in 1942 we lost almost a thousand ships, with their cargoes, and in addition had to build a fleet, with its consequent drain on steel. The fact that we have a fleet in being and large numbers of merchant ships which we can take out of mothballs makes our situation today much better than in 1942 in this field. He indicated also that with respect to various arsenals the equipment in 1942 was very antiquated, and that the arsenals today are well equipped and ready for work. He indicated also that our Air Force today has real strength, as opposed to almost none in 1942. General Marshall explained that these matters were of great significance in starting to plan the task which would be assigned to Mr. C. E. Wilson,1 and also must be taken into account in any evaluation of our present position.
- Director of the Office of Defense Mobilization.↩