The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-03-17
G. o P.FAIL TO
GET ANYTHING ON
BERNARD BARUCH
Head of War Industries Board
Answers Every Question
Presented by Republican
PartiSanS.

WASHINGTON, March l.. tSpL)-
In only two OF the thousands Of IN
stances where prioTities We're fixed dur
ing the war was there l. dispute and in
both these instances. settlement Of the
dispute was made Immediately when
the facts were presented to Bernard NJ
Barueh, chairman OF the war industries
board
This information has been disclosed
10 show how thoroughly American bust
ness served during the war FOR the pri-
GRITTY power OF the war industries board
was a power such as was never given
10 a governmental department and upon
the decisions In the claims OF ptiOrities
rested the possibility Of financial adj
xantages for the firms concerned.
American business accepted the de-
cree OF the board and went to work 10
assist in war production
fAmerican business never asked US
for profits; II asked for service and II
served. said Baruch in appearing be
fore the Graham investigating commit
tee OF the house.
-Four times now some one Of the many
smelling committees have Investigated
Baruch and four times the service he
rendered the government at il personal
loss has been reviewed 10 the public
II so happened that BaruCh was a friend
pf the president that prior to the war
nc wAa interested In buying and selling
securities on the New York stock eN-
change and that later when war came
on be was appointed 10 one Of the
most difficult positions and a position
having the greatest responsibility, II
has been impossible for the Republican
smelling committees 10 believe that
Something can not be found to criticize
the president and Baruch, but four in
vestlgations have disclosed nothing but
that which would commend both.
Explains Price Fixing.
why did you resort to price fixing"
questioned Chairman Graham during his
quest
III we had not fixed prices as we did
they would have been limited, espe.
eially in steel, by the shame of the pro-
dueers themselves, said BaruCh. We
couldn't afford TO give the steel inter-
ests opportunity to fatten off the blood
OF the country, We fixed prices We
made them as low as we could. taking
into consideration all factors Of the
case And think we did all that men
could do TO get result that would be
satisfactory TO everyone
What salary or expense did you get
as chairman
got neither salary nor expenses
and did not ask either"
Baruch, telling Of how the business
men served In this special organization,
said these men had an earning capacity
OF SIS, 600, 900 year
but yours was the guiding hand?"
suggested Graham.
Il wish that might say that this
was entirely true but there were others
that aided" replied Baruch
Who was 1t first suggested that
Herbert Hoover be named food con-
troller?''
Il could not say any more than can
say who It was that first named him
as presidential candidate in either
party"
COULDN'T Fix Cotton Prices.
why did you not fix the price of
Because, in the first place. we had
no legal right to do so, Then VIC did
not have the money Cotton prices
could have been fixed only In the way
In. which wheat prices were fixed
IN no instance did he Nix prices. Bu-
ruch said. In every instance the dues-
ton Of getting the utmost production
and OF paying fair wages was eonsid-
cred when the demand for a certain
commodity arose. The federal trade
commission then began its investigation
"a to proposed prices and with this RS a
basis a committee OF business men con-
sidered the price question. Sometimes
the nelghbors Of business men interested
IN the commodity fixed the price.
How well and how periodically and
how honestly In the public interest this
service was performed is shown by the
fact that despite every Investigation
not single criticism has arisen as TO
the price-fixing program adopted dur
ing the war, Baruch said
There was not Stacker in American
business. We did not find one" he
said. In every case the business man
asked 70 serve and to let his business
serve, and he served There was no
question then Of profits"
Baruch was questioned closely AS to
his connections at the time war came
on He told how he had just prepared
% retire, to rest, to read and to
rite when he saw war approaching.
Md he said he knew II was inevitable
That America must be dragged In. He
toured the country to investigate the
conditions OF preparedness and made
his report 10 the president II was the
first time he had seen the president
since his first election Then he Of
fered his services, he organized the bust
ness organization Of the government and
he paid the expenses.
The war cost him personal invest
ment In the governments interest OF
more than $4,000 This was money
paid out Of his pocket in addition TO
the services he rendered