The Raymer enterprise., 1918-10-03
BACKBONE ST|FFNER
FOR CONGRESS

the report was attacked by certain
publications representing vested In.
terests, as the work OF a demagoe
using government board as a cloak
to disseminate socialistic propagan
da. Anything that is against the
100 and LOCO percenters nowadays
is either "confiscatory" and social
istic.' or "pro-German. preferably
the latter, that being an epithet to
onjure with. And now that the most
conservative department of the gov
ernment. the Treasury Department
responding to a Senate resolution,
brings forth facts and figures on
proiteering from income tax reports,
which makes the report of the Fede-
raj Trade Commission seem mild and
weak, these propaganda shouters and
defenders of the protiteering inter
ests are hit right between the eyes,
and have neither ammunition nor
conversation left. The report Of the
Treasury Department cuts the very
ground from under the feet Of the
whole proilteering swarm of objec-
tors to an so per cent war tax on ex-
cess profits
The report covers 81, 500 corpora
tions, and shows amazing profits
that were made in almost ever
branch of American industry in
1917, while billions were piled up
by those who manufacture or con-
troll the necessities. meat, food, iron,
shoes, steel. and many other things.
If Congress votes to make the names
and swag of these "conseieneeless
proiiteers' public, it will make Ben.
edict Arnold seem loyal and respect
able.
II shows there was extraordinary
proflteering in foodstuffs. One hun
dred per cent profits in 1915 were
far surpassed In 1917. One big -four
mill cleared 345 per cent on its CAPT
tai stock under food regulations in
1917, and 100 per cent increases In
-four and feed milling were common.
The profit in bread and bakiag pro-
ducts is described as amazing -
And the protesting packers are
shown up again. One made - mil
lion dollars more in 1917 thar he did
in 1916. After deducting war taxes
of $5,32s,000 another packing com
pany had s4s,S10,O0O left. .sno.her
packing concern made 2,05; Der cent
IN its capital stock.
A canning company that made 81
per cent in 1916, cleared 1,147 ner
cent in 1917. The earnings of s3
canning companies exceeded 100 per
cent.
Scores of boot and shoe manu-
factureres made from 90 to I,30O
per cent. The Mid-continental coal
operators cleared SO per cent, and
the big oil producing companies
from % to 396 per cent.
The war profit situation is well
illustrated by the last 3 months
earnings" OF the United States
Steel Company-153 million dollars
The normal before-the- war profits
Of the Steel Trust for the same
length of time would have been about
Is million dollars. The war has
added 1873 millions to its profits, and
has done IT under government price
liking for steel. If the government
had taken 80 per cent of these war
profits the Steel Trust would still
be left with 33 millions. or double
its pre-war profits No "conhsea-
tion" there!
On the other hand, the grt wing
Of wheat, corn and barley was shown
to be scarcely more than lrolitahle
for the two years covered in he re-
port.
In time of war no n4a should
be permitted to hold mp his country
nor his eountryman. 10 pile up a
fortune when sacrifices are demand
ed from everyone ia as Infamous es
shipping rotten raincoa-s y The ar
my
Tt war " f!tn uf the lar-
ptis g Sationa' ,'Tmn'i.2e Is A Erhc-
{ method ft checking this wi
NJ stopping -, perilons imitation
o. rlices VIII / is threa:eu.I 10
Il i rhine the ~ ;.,is' resources ltI
vO ID help Unois 5lGl III his iilni
y tPle with tay If 81 per cent
" excess profitl and would craft
~ Zig incomes fbHe he 800 tpa-
a. a: figure. .rre .pCrtien to what
h. has the avera, ,e citi zen is conir,-
| ihg much M than this tow;rd
w = ing the W.T.. Yet the vested
interests pretend 10 SEQ oniy a pnr-
pose to Soak the rich" in hi. fair