The people's voice. [volume] (Helena, Mont.) 1939-1969, 1945-07-20
''The Public Be Damned


The attitude of financial barons and their satellites in the
has changed little since it openly expressed by
one OF the early American explorers ordinarily IL may De
noticed that their statements have taken refinement
They have learned that there other to reach their
detectives without making declarations of their attitude
Occasionally however of their less intelligent sooges
apes from the ordinary yebu line of consider
alton for the pubc interests and makes statements that
a clear index of what their attitude is.
One June Sen E. H. Moore of Oklahoma made speech
United attacking the Office of Price Adj
mnistration Evidently this speech broadcast
copy of this the
envelope It printed in pamphlet form, and boxed the
title page is sort of text evidently intended to convey
warning the public show the tremendous
which the senator has for the pubc interests This boxed
standardization of argument reads as follows:
"To prolong reorganization, exemplified by OPA,
to play with the fire that consumed both Germany
and Italy Americans and freedom-oving people
everywhere, should take heed"
The first part this speech up
oratoa rantng about the Constitution and free enterprise
with definite charge that OPA has failed under the
agemen of un-Amercanmnded who have confidence
the principles of the Constitution the integrity of the
way of life Reading the entire speech depres
ing average wonder what will eventually
u.s. if should be unfortunate enough to be
sadded with majority of members in lawmakng bodies
intelligence than evidently Senator Moores
AS an example clearly indicating whose he
pleading let the following paragraph from his speech
saw propaganda press release only few days
in which Mr. Bowles said that without OPA steel used by
the government for purposes would have cost the
American people $26 900 100000 in of what had
been expended On its face this sounds good but it
the unsuspectng Steel purchased by the United
States for should have and could have been
bought contract that would protected
the government and at the time due regard
fo production and reasonable profit to the
ufacturer The is true of every item of
material including military food supplies If the $780,
OOO,OOOOO0 saving steel, claimed by Mr.. Bowes is
reflected by loss private enterprise then he has
formed great disservice to his country Emphasis
ours)
To all informed people this stooge of the special interests
his neck this one Corporate profits show
staggering years 1914
production has been purchased by the
all of the people of the country have contributed
TO Let OOk
In 1910 corporate profits increased the peacetme
1871, 223% before 1872 after taxes; 1912
1921 before 1874 % after taxes 1943 406
before 1857 taxes; 1914, 449% before
taxes and an estimated 1897 after taxes.
Considering the steel corporations prohibited by the
OPA from adding 26 billions of dollars of additional profits
their profit hoard which is bemoaned by the senator
going bankrupt according to statistics.
The profits of three of the leading companies in STEEL
during the 194O42 above the 1869 level
follows
United States Steel 1859 over the pre-war years.
Bethlehem Steel profits increased 32O4%; Republic
Steel 1860.
welfare the large corporations has been given
loving attention evident by the provisions of wartime
which refunds by the
profits taxes collected if they lose the
time years or even fail to make only much they made in
before the The of this provision
said to be to assist the companies during the reconverson
period.
remembered that all corporations computing
their net and surplus incomes during the have been
most liberal in making heavy depreciation deductions for
and tear facilities Moreover particularly in the of
steel production there little reconversion expense Steel
steel time well time But under the
refunds provided the laws for corporations post
years. the possible the United States Steel company
may be used example. is
This companys annual net earnings the
1869 SAT- million. If it breaks in the first r
postwar year it will tax refunds of 1892 million
should suffer loss did in 1889 when it operated at
only 90 of capacity Uncle Sam will help struggle along
with refund of S444 million Taking the industry as c
whole total production should drop to 400 of capacity it
would get refund of $167.5 million BIT % than it c
earned from 1036-39. They win if they lose fl
TO
tons that need thinking With national debt which
well have reached $50 billions by the time peace arrives
why should the people of the country be sadded with load
of profits the corporations whose profits
during the period AFTER taxesncung profits
have swollen to staggering proportions Certainly the
should be this But-'The public be damned" 81
tt
Cerman-American Concerns q
The Kigore senate committee engaged effort a.
America and the world that will outwt