It was briefly revived for World War II[2] to hold agencies such as National Defense Research Committee.

[7] The council was to investigate and advise the president and heads of executive departments, on the strategic placement of industrial goods and services for the potential and future use in times of war.

[7] Its first members were Daniel Willard (Baltimore, Maryland), president of the Baltimore and Ohio Railroad; Samuel Gompers (Washington, D.C.), president of the American Federation of Labor; Dr. Franklin H. Martin (Chicago, Illinois), a distinguished surgeon who founded the American College of Surgeons; Howard E. Coffin (Detroit, Michigan), head of the Committee on Industrial Preparedness, who had experience coordinating the auto industry in emergencies; Bernard Baruch (New York, New York), a prominent banker; Dr. Hollis Godfrey, civil engineer [8] (Philadelphia, Pennsylvania), president of the Drexel Institute; and Julius Rosenwald (Chicago, Illinois), president of Sears, Roebuck & Co.[4] Walter S. Gifford, of the American Telegraph and Telephone Company, also an engineer, served as the first Director of the Council,[9] but was succeeded by Grosvenor Clarkson.

[13] Shaw appointed temporary chairs for each state committee in order to coordinate the upcoming war work.

[15] In January 1920, the Council recommended the creation of an Expert Survey Board to conduct research studies over the next six months to enable speedy mobilization in the event of another war.