A few days before I left Germany I had a conversation with a
manufacturer of munitions who employs about eighteen thousand
people in his factories, which, before the war, manufactured
articles other than munitions. I asked him how the government
treated the manufacturers of munitions, and he said that they
were allowed to make good profits, although they had to pay out
a great proportion of these profits in the form of taxes on their
excess or war profits; that the government desired to encourage
manufacturers to turn their factories into factories for the
manufacture of all articles in the war and required by the nation
in sustaining war; and that the manufacturers would do this provided
that it were only a question as to how much of their profits
they would be allowed to keep, but that if the Government had
attempted to fix prices so low that there would have been a doubt
as to whether the manufacturer could make a profit or not, the
production of articles required for war would never have reached
the high mark that it had in Germany.
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