Some portion of the new plant and 

 equipment constructed during the 

 last few years for the purpose of war 

 research can be converted to peace- 

 time uses. Nevertheless, a consider- 

 able amount of new investment will 

 have to be undertaken after the war. 

 There can be no doubt that such new 

 construction could constitute one of 



the most productive kinds of public 

 and private investment. 



Next to the achievement of an ade- 

 quate total volume of research activi- 

 ties and the establishment of a proper 

 proportion between its pure and ap- 

 plied phases, maintenance of a con- 

 tinuous and steady expansion should 

 be considered one of the most impor- 



Figure 



Expenditures for Scientific Research in the United States 



Dollars Per $1,000 of National Income 







1920 



1925 



1930 



1935 



1940 



1945 



88 



