georgephillip
Diamond Member
From a historical perspective war has always been far more profitable than your 2004 post claims.
Starting from "The War to End All Wars"...
"The normal profits of a business concern in the United States are six, eight, ten, and sometimes twelve percent. But war-time profits – ah! that is another matter – twenty, sixty, one hundred, three hundred, and even eighteen hundred per cent – the sky is the limit. All that traffic will bear. Uncle Sam has the money. Let's get it.
Of course, it isn't put that crudely in war time. It is dressed into speeches about patriotism, love of country, and 'we must all put our shoulders to the wheel,' but the profits jump and leap and skyrocket – and are safely pocketed. Let's just take a few examples:
"Take our friends the du Ponts, the powder people – didn't one of them testify before a Senate committee recently that their powder won the war? Or saved the world for democracy? Or something?
"How did they do in the war? They were a patriotic corporation. Well, the average earnings of the du Ponts for the period 1910 to 1914 were $6,000,000 a year. It wasn't much, but the du Ponts managed to get along on it. Now let's look at their average yearly profit during the war years, 1914 to 1918. Fifty-eight million dollars a year profit we find! Nearly ten times that of normal times, and the profits of normal times were pretty good. An increase in profits of more than 950 per cent.
"Take one of our little steel companies that patriotically shunted aside the making of rails and girders and bridges to manufacture war materials. Well, their 1910-1914 yearly earnings averaged $6,000,000. Then came the war. And, like loyal citizens, Bethlehem Steel promptly turned to munitions making. Did their profits jump – or did they let Uncle Sam in for a bargain? Well, their 1914-1918 average was $49,000,000 a year!
"Or, let's take United States Steel. The normal earnings during the five-year period prior to the war were $105,000,000 a year. Not bad. Then along came the war and up went the profits. The average yearly profit for the period 1914-1918 was $240,000,000. Not bad."
"There you have some of the steel and powder earnings. Let's look at something else. A little copper, perhaps. That always does well in war times.
"Anaconda, for instance. Average yearly earnings during the pre-war years 1910-1914 of $10,000,000. During the war years 1914-1918 profits leaped to $34,000,000 per year.
"Or Utah Copper. Average of $5,000,000 per year during the 1910-1914 period. Jumped to an average of $21,000,000 yearly profits for the war period.
"Let's group these five, with three smaller companies. The total yearly average profits of the pre-war period 1910-1914 were $137,480,000. Then along came the war. The average yearly profits for this group skyrocketed to $408,300,000.
"A little increase in profits of approximately 200 per cent.
"Does war pay? It paid them. But they aren't the only ones. There are still others. Let's take leather..."
THREE TITLES [3] for the PRICE OF ONE.
Starting from "The War to End All Wars"...
"The normal profits of a business concern in the United States are six, eight, ten, and sometimes twelve percent. But war-time profits – ah! that is another matter – twenty, sixty, one hundred, three hundred, and even eighteen hundred per cent – the sky is the limit. All that traffic will bear. Uncle Sam has the money. Let's get it.
Of course, it isn't put that crudely in war time. It is dressed into speeches about patriotism, love of country, and 'we must all put our shoulders to the wheel,' but the profits jump and leap and skyrocket – and are safely pocketed. Let's just take a few examples:
"Take our friends the du Ponts, the powder people – didn't one of them testify before a Senate committee recently that their powder won the war? Or saved the world for democracy? Or something?
"How did they do in the war? They were a patriotic corporation. Well, the average earnings of the du Ponts for the period 1910 to 1914 were $6,000,000 a year. It wasn't much, but the du Ponts managed to get along on it. Now let's look at their average yearly profit during the war years, 1914 to 1918. Fifty-eight million dollars a year profit we find! Nearly ten times that of normal times, and the profits of normal times were pretty good. An increase in profits of more than 950 per cent.
"Take one of our little steel companies that patriotically shunted aside the making of rails and girders and bridges to manufacture war materials. Well, their 1910-1914 yearly earnings averaged $6,000,000. Then came the war. And, like loyal citizens, Bethlehem Steel promptly turned to munitions making. Did their profits jump – or did they let Uncle Sam in for a bargain? Well, their 1914-1918 average was $49,000,000 a year!
"Or, let's take United States Steel. The normal earnings during the five-year period prior to the war were $105,000,000 a year. Not bad. Then along came the war and up went the profits. The average yearly profit for the period 1914-1918 was $240,000,000. Not bad."
"There you have some of the steel and powder earnings. Let's look at something else. A little copper, perhaps. That always does well in war times.
"Anaconda, for instance. Average yearly earnings during the pre-war years 1910-1914 of $10,000,000. During the war years 1914-1918 profits leaped to $34,000,000 per year.
"Or Utah Copper. Average of $5,000,000 per year during the 1910-1914 period. Jumped to an average of $21,000,000 yearly profits for the war period.
"Let's group these five, with three smaller companies. The total yearly average profits of the pre-war period 1910-1914 were $137,480,000. Then along came the war. The average yearly profits for this group skyrocketed to $408,300,000.
"A little increase in profits of approximately 200 per cent.
"Does war pay? It paid them. But they aren't the only ones. There are still others. Let's take leather..."
THREE TITLES [3] for the PRICE OF ONE.
