Diary for Thursday, July 31, 1941:
USA: Roosevelt establishes Economic Defense Board, under Vice-President Wallace.
Merchant shipping losses in July 1941: 41 Allied ships with 113,078 tons in Atlantic, 2 Allied ship with 7,897 tons elsewhere.
12 Axis ships with 47,055 tons in Mediterranean.
1 U-boat sunk in the Atlantic, Arctic or Baltic. 65 serviceable U-boats in Atlantic.