Evening star., 1934-06-24
|BARUCH DEMANDS
lend Of WAR PROFIT
Tells Army Industrial Col
Iece of Plan to Conscript
Resources.
Rx the Associated Press.

Gated yesterday by Bernard M. Ba-
ruch, international financier' and
chairman of the War Industries Board
during the World War
In an address before the Army In
dustrial College, Baruch pictured the
World War and its destructive eco
nomic aftermath as horrible object
lesson. He advocated complete ma
tional control of all industry in the
event of another war
Baruch said virtual CONSUMPTION of
the Nations resources, as well as its
! citizenship was vitality essential to win
war and to prevent repetition OF
the "prostra ting economic and social
aftermath of the war"
Still Suffer Effect.
To-day we are suffering from the
economic, social and moral aftermath
of the war;" Baruch said 1--WE try to
pay for it and get rid of it, but, after
16 years, we are just seeing our way
out. 1t is our purpose and our duty
to see that it does not happen again.
Society demands the elimination of
! proflteering and above all the prof1t
incentives of war" he continued,
arguing that all industry during war
time should be sharply limited to a
bare margin above actual manufac-
turing cost.
Outlines Plan.
, Outlining mis- formula for eradicat-
, ing war profits, Baruch said:
1T means the recapture of all
profits, in bulk. made by all indus
tries engaged in war supplies above
small and reasonable return on the
investment. This recapture can only
be done through control of prices and
increased taxes in wartime"
Profits in all industry, Baruch
added, must bear comparison with
sacrifices made by men in the field
By eliminating huge profits, he con-
tinued, it would not only meet re-
quirements of social justice, but pre-
vent vast and unnecessary expan-
sions that played so large a part IN
bringing about our present postwar
confusion"
Would Include All.
"I want to put a ceiling over prices
and profits Baruch said, above
which no prices and profits may CO.
Thereafter, tax program must be
enacted that will take away, in to-
tality, the spread between selling
prices and costs plus a reasonable
return. There will then be far less
profit in war than in peace.
by parallel planning, there must
also be control over all prices, goods,
foods, rents, wages, services; in short,
OF all activities that yield a profit All
must be denied the right to enjoy
joy-ride at the expense of the Nation,
control of dollars must be made ap-
plicable to the entire citizenship re-
gardless of their classification"
Baruch emphasized that he thought
the last war profitable to no individ-
uals and no nations He said the
wars aftermath had revealed that
conquerors have all lost through the
economic upheaval it caused.
Must Be Ready.
1T is not generally realized" Baruch
said. how embattled the world is ex-
cept for men under arms and fewer
Ao~SOA-So bNASAAAAIS III III IIluIllllOIlS II1e
world Is as great an armed camp as
1t was in the World War. Each gov
eminent sits behind a bristling fortress
equipped with terrible economic weap-
| ons of destruction, instead of mere
guns.
National economies are more highly
| organized than ever before; they have
their tariffs. their quotas of imports
and exports, capital limited in its
operations, currencies deprecated. ex-
change controlled. debts repudiated.
agricultural production restricted. busi-
, ness highly organized under govern
mental sanction.
"Airplanes and navies are being in
creased, and from some far distant
places We can family hear the tramp
of increasingly greater masses of men
under arms. We must be ready when
that dreadful threatened day comes to
meet it,
Flfty-Seven officers representing the
three branches of service were gradu-
ated at the exercises which were
opened with remarks by Col. William
A. Mccain. O. NJ c.. director of the
college, who is completing his four
year tour of duty here.
Woodring Speaks.
Remarks by Assistant Secretary of
War Harry H. Woodring, who COM
mented upon the excellent character
of the work performed by the gradu-
alton class. followed. He expressed
the hope that the training received by
them would be reflected in their fu-
ture service careers.
Baruch then addressed the class,
after which graduation certificates
were presented by the Secretary of
War. Chaplain Julian E. Yates, U. S.
A. pronounced benediction.
The graduation class. with home
addresses and new stations to which
assigned, is as follows:
Army.
nt-colonels-West, William
w., jr., Cavalry; Robins, Augustine W.,
A. c.: Maddux. Rufus F., c. w. S.;
Gee, Cleveland c., c. E.
Majors-Cottrell, Joseph F., c. A.
c.; Scowden. Frank F., @. M. c.;
Heard. Jack W., Cavalry; Krupp, Os-
car, o D.; Vanderveer, Harold c., F.
A; Kilner, Walter G., A. c.; Gillespie,
James B., o. D: Clark, Cuyler L.. F.
A.: Cole, Robert B.. Infantry; Daily,
Joseph O., F. A; Smylie.. John S., c.
A. c.; Bethel, Edwin A., C. E.; Moses,
Raymond G., C. E.; Engleman, Irving
H., @. M c.; Leard, Emil W., Infan-
| try; Minton, Hugh c., o. D.; Turner,
william K, M. c.. Welch, Gordon B.,
o. D.; McCarley. Thomas r., M. c.;
Dick, william W., A. G. D.; Joiner,
! William H., o. D.
Captains-Kraus, Walter F., A. c.;
Gano, Frank w., C. E.; Jones, Mat