WILLIAMS HAILS WAR INDUSTRY

Production of all kinds of manufactured goods including non-war essentials, as well as materials needed for national defense, has reached a point which may stand as an industrial output record for years, according to John Henry Williams, Nathaniel Ropes Professor of Political Economy and Dean of the Faculty of the Graduate School of Public Administration.

The phenomenal feature of our present unheard-of production, Dean Williams explained to the Student Fireside Council in an informal address last night at the Students' Club is that we have actually doubled the figures quoted for industrial output of a few years ago.

Asks Post-War Continuation

However, he was careful to point out that the meaning of our present capability in turning out goods, which is such an important aid to the success of the Allied war effort, may be read only in the future effects of present gains after the war.

If we allow the gain in industrial output to slump after the war to a figure less of equal to that of pre-war times, we may face many economic complications, including the possibility of a post-war depression, the economics expert said.

But predicting that we would not have to face such an economic crisis, Dean Williams expressed the opinion that present wartime industrial efforts would create many new possibilities for continued high-production levels after the war.

Only one other danger remained to post-war economic stability, and that was inflation. Yet he was satisfied that the problems of inflation during wartime now were being handled much better than in the period of 1914-18.