Montana labor news., 1938-06-30
~STUpEND0US COST OF
WAR TO PEOPLE


ton in the great capitalist world wal
Of l9l4-18, even though this coun-
try did not enter the war until
April, 1917. That this sum will 'ul-
timately reach the $500 billion mark
no man can longer doubt" says Sen.
Gerald P. Nye, head of the Senate
munitions investigation that turned
up the sensational data on how Nor
gan & Co. and other United States
bankers and manufacturers waxed
fat on the last big slaughter to make
the world safe for democracy"
This peaceful, christian" nation
is now spending about four times
as much in preparing for future war
as it was spending just before its
entry into the World War.
Military and naval expenditures
will cost taxpayers of the United
States well over a billion dollars
during the fiscal year that began
July l. The regular appropria-
tons bills have already been ap-
proved by Congress calling for over
$5l6 million for the Navy and over
$415 million for the Army New
York Times, lid. In addition there
are special bills, one already ap-
proved by the Senate calling for
construction of six auxiliary naval
vessels at a cost of $48, 100000. Then
there is a bill being pushed by the
Army authorizing expenditure of
SCI, 100000 for construction on mill
tary posts. Other bills, adding funds
to the war preparation pile, are be-
ing pressed. Only a handful of Con-
gressmen have protested these huge
outlays. Tories, who insist on bal
ancing the budget" at the expense
of WPA rolls, forget their "econo-
my slogans when these war mea-
sures are being pushed through.
1t is estimated that the principal
European countries are spending at
least $4,000 a minute during the
1887 fiscal year for direct armament
expenditures. (Hanson w. Baldwin,
military expert of New York Times.)
This kind of comment is now ap-
pearing more frequently in the col
umns of financial organs such as the
Wall Street Journal. Here is one
from a recent issue (6-25): Brokers
say that strength in so-called war
babies including coppers and steels
was partly result of the more
troubled atmosphere in Europe.
Cables mentioned there was accel-
Grated buying Of copper futures and
copper shares abroad as we'll as
here
United States capitalists are al
ready making a lot out of the war
export trade. Copper going abroad
for war purposes is bringing big
profits to American companies. Note
that in May Of this year copper ex-
ports from the United States were
valued at $9,880, 966, compared with
$3,625,67 9i in May of last year.
American financial interests are
now helping Japan in its wal on
China, according to E. Janeway, fl
nancial writer for Federated Press.
Among those involved in this traffic
are certain Mellon companies (pig
from, Westinghouse electrical
equipment, Morgan and Guggen-
helm interests "copper", Texas Corp.
and Standard Oil (oil). These Lib
erty Leaguers expect bigger orders
if the Chinese wan continues.
The U. S. War Department has
recommended a million-ton stock
pile of government-owned mangan-
csc ore. American Manganese Pro
ducers Assn, is naturally behind this
move, for native manganese COM
panies would profit enormously
from such a war accumulation OF
this basic mineral required for steel
production.
Even the Magazine of Wall Street
is aware of the wal threat growing
out Of the fascist relationships.
Charles Benedict, writing in that
publication (7-3): says: "Those who
believe that wan is not possible be-
cause the discomfort in Germany
and Italy is so great that the die
tators would not dare to risk actual
combat, do not consider the great
economic difficulties in these coun-
tries which may force the dictators
to enter into a war of conquest"
Wickham Steed, former editor of
The Times of London, put the posi-
ton much the same way in a spe-
cial article in the New York Times
90: "But precisely because of her
economic and financial position.
Germany is well nigh desperate,
and with prospects of her 1897 har-
vest bad, Hitler feels the urgent
need of some striking success abroad
to prevent his own prestige from
crumbling, Mussolini, whose plight
is not much better, also needs a sue
cess"
(For further summarized facts on
the cost of the world war, United
States losses, who benefited, war
profits, etc, e Labor Fact Book
TIT ~ 1917