Potential Economic Strength and Weakness of the United States for War 1937-1938

The economic needs of a nation, especially for war, cannot be considered as absolute and fixed. The military requirements will depend upon the extent of the national effort, which is governed by the national objective, the enemy's strength, and the theaters of operations. Furthermore, in a nation accustomed to a high standard of living many things are regarded as necessities, which in a country less favored by economic resources are considered extravagant luxuries. Consequently, the morale of our nationals might well suffer by economic restrictions that would not even be regarded as hardships in another country.