Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1918-07-02
Tuesday, July 2, 1918.
Proof Enough. but What Of II?

Proof Enough, but What Of II?
The United States Senate asked
the Federal Trade Commission to
furnish all kinds of Information con-
corning profiteering. and the re-
Spouse, while not unexpected, is
amazing in the volume Of plumber
pressed out Of the nations needs, and
the colossal nerve of individuals and
firms engaged in the wholesale rob-
berry while pretending to be respect
able American citizens. Following
is a summary compiled by a news
editor from the report. containing a
few of the bald facts in the wholesale
indictment against greed:
-Four meat packers melted $40
900, 900 profit in two war years, an
excess Of 1921 100000 over pre-war
gains.
One steel mills profit was 1882
percent. Others with furnaces aver
aged 100 percent The net income Of
the United States Steel Corporation
FOR 1917. after deductins Federal in
come and excess profit taxes, was
2AA.73a. 908.
The average profit in the copper
industry was 24.4 percent, against
~ percent in 1918. The lnterna-
t,onal Nickel Company's 1916 profits
were $13,567 900. or 40 percent
Margins Of profits in the coal in.
dustry were. in a number Of cases,
Two or three times normal" The
leather industry's normal profits
were multiplied by four or FIVE.
Flour mills averaged SO percent.
profit.
The Borden Company and the
Helvctia Company influenced canned
milk companies. the average profit
being IS percent on investment.
The salmon industries profit was
52.8 percent.
These are n few million Of the
reasons why we are paying out
rageous prices for the privilege Of
living to support the war. Just as
many more exist in the wholesale
piracy OF the apt pupils of these mas
ter brigands, tho middlcmen and re-
tailers who take two pounds of flesh
for every one taken by the trust. and
organize trade associations" to en-
courage each other in their buc-
caneering and TO cover up tho meth
dds OF plumber.
What is TO be done about it,"
We don't know. but we do know that
the public will some day have lot Of
big bones 10 pick with the fellows
that are driving agriculture to the
wall and laborers to the poor house.
They cannot always get away with
II. and they are TO be remembered
The kaiser's dream Of domination
OF the world was no more devilish
than the plotting of the Big Five
packers To control the food supply of
America. II was not confined to
beef products but included control of
cries. dairy business. poultry indus
Wy. and a thousand and one smaller
industries allied with all these-all
connected up with meat-packing and
running golden stream into the
pockets OF these profitcers.
The steal in steel in as bad. and
then -four. copper, coal.
or course these big rascals can
never be placed where they belong
because they have money enough to
buy all In sight. but the beginning
has begun" as Uncle Nate used to
say. II may mean eventual govern
ment ownership OF the big business
and wholesome wholesale reduction
representatives. OF the trade or
CARNATIONS" arc swearing to the
common lies and taking their rake
offs in the profiteering games-while
our sons are giving their careers
their time their comfort. peace OF
mind and their lives for us all. in
Guiding these organized gangs of
cutthrosts.
The evidence is everywhere, so
plentiful and SO long known and
helplcssly tolerated as to he dis
credited. almost They have been
doing ii so long and so brazenly as
20 be entitled to It through the nine
points OF possession.
Can the government do anything
10 these sacred cntrenched rights"
Of property while IT is knocking the
Hun out OF hunger in Europe. or
must IL await the return Of our boys
who are not allowed to strike or
pronteer?