" SenatorAshurst recalled that the World War had made 23,000 millionaires and Senator Walsh declared industrialists had told him they would not manufacture for the government at 8 or 10 per cent profit because they were getting
18 per cent or more on foreign contracts. All this embarrassed many senators,
who left their seats" ( PM, Aug. 22). "A high ranking naval officer complained
that the navy was having difficulty in obtaining materials that went into fighting
ships" ( AP, Aug. 20). Admiral W. R. Furlong, chief of the naval bureau of
ordnance explained to the Senate Appropriations Committee that "the difficulty
was due to tax requirements and limitations on profits, together with the fact
that American manufacturers could do business more profitably with the British".
General Johnson, recalling how in 1917 he had written a memo suggesting
a draft of 1,000,000 men says it came back "ink-spattered by an angry pen-point
that had punctured the paper and spurted indignation. It was initialed 'W.W.'
and said in effect that the American people would never stand for a draft of a
million men, that our contribution was to be largely in money and supplies, that
it was absurd to think of an offensive in any such terms!"
Whether consciously or unconsciously, Roosevelt follows with machine-like
precision the road to dictatorship. For "there is only one certain, fool-proof way
of setting up a Fascist dictatorship, and that is by proceeding under the pretext of
'saving' something or other. 'Saving' the country from the Reds appears to be
the most popular with American Fascists, but 'saving' the 'old pioneer spirit' or
democracy, or 'Christian' civilization are also popular," remarks Lt. Commander Charles S. Seely, U.S.N., Ret. ( American Guardian)
Bulletin #84 was an emergency release after the conscription bill had
passed the Senate and before the final action by the House. It included a letter
which had been sent "to all Liberal Members of the House of Representatives".
This delectable phrase conceals the "invisible but unshakable" purpose of Mr. Roosevelt to ameliorate his relations with those he formerly
scorned as "economic royalists", while fooling the voters that the war
profiteers are being taxed.(1)
Congressional leaders "were eager to inspire speed in the national defense program by granting reasonable depreciation allowances at once"
( Paul Mallon, Aug. 6). Responsive to 'Industry' and its lobbyists, they
were willing to deceive the taxpayers with the idea that there were enormous "technical difficulties" to be surmounted in planning taxation on
excess war profits.(2)
The finance capitalists who control these war industries wanted amortization, what the government had to give, promptly. They were more
than willing to postpone the tax on war profits, what they had to pay.(3)