Word: armaments
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...closely-printed pages the House of Commons received last week a fateful invitation from the Rt. Hon. Stanley Baldwin. In a general way the Prime Minister invited a confidence vote of which the result might be to spend $1,500,000,000 as rapidly as possible for further Armament, or to spend immensely more, should His Majesty's Government think best. The White Paper was a bid to be accorded virtual carte blanche-billions for Armament, and no questions asked. In the words of the paper: "Any attempt to estimate the total cost of the measures described would...
...Squire Baldwin with a blunt refusal to part with one iota of his prerogatives. But the Prime Minister did say he would appoint a Deputy to act for him the greater part of trie time as Chairman of the Council of Imperial Defense which will largely spend the Armament billions. Who this Deputy will be, Mr. Baldwin did not yet choose to tell the House...
...activities of Capital & Labor. Under a Prime Minister who is the leisured scion of Baldwins Ltd., hereditary British iron founders, Labor considered itself sure last week to get the meagre end of a generous square deal for Capital. Under the White Paper scheme, selected British firms capable of armament production would be guaranteed in peace time sufficient Government orders to keep their works operating profitably, ready for instant changeover to highest-geared war production of munitions. Labor did not believe the White Paper's loose intimation that "excessive profits" will not be permitted Capital...
...first gradually to transform the "Capitalist society" of France into a "Collectivist society." Next they would strive to create for the world an international currency of constant and unfluctuating value with international bonds paying a modest rate of interest secured by all the world's governments. The lucrative armament industry would be made a State monopoly and its profits secured in toto by the State...
...British armament shares were booming at such a rate last week that Labor's irate, pacifist London Daily Herald was able to cite 13 leading issues which have risen an average of 207% since His Majesty's Government started the boom with their $1,500,000,000 program of new armaments (TIME, Nov. 11). Urged to dampen this speculative rise by promising that His Majesty's Government will by law curtail armorers' profits, Prime Minister Stanley Baldwin said: "Great as the power of government is, I am afraid we can't control the speculator...