Word: armaments
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...Army Ordnance Association, Washington's Metropolitan Club and the St. Cloud Country Club. As a U. S. citizen he still considers himself a Republican. But the most important fact of all about M. Benet is that he is vice president and managing director of the armament firm of Hotchkiss which turns out one of the world's best known machine guns...
Despite its million-dollar net profits Hotchkiss & Cie is really small fry in the armament world compared to such a French giant as Schneider-Creusot. Its distinctions are two: 1) it is independent of Schneider-Creusot which owns or controls 412 arms and allied enterprises including Czechoslovakia's Skoda. 2) Though a French firm, its founder like its present managing director was a U. S. citizen, Benjamin Berkeley Hotchkiss, born in Watertown, Conn. in 1826, made a fortune manufacturing guns and munitions for the North during the Civil War. He went to Europe in 1867, established a cartridge factory...
...took no flaming headlines to convince the rest of the world that the international armament race was on in earnest...
Disarmament Conference was most careful not to overstrain its strength last week. The steering committee met briefly, adjourned until April 30, arranged that the full Conference should reassemble May 23. None too cheerful was the President of the Conference, "Uncle Arthur" Henderson: "Now in almost all the leading countries, armament budgets are beginning to increase. Those contemptuous of the whole idea of disarmament through collective security say we had better cut our losses and go home, and urge us indeed to go back to international anarchy. But you who are charged with the responsibility for the destinies of our peoples...
...course, true that wars will not cease through lack of armaments, but it is no less true that the possibilities of war are relative to the nations fighting strength. The making of modern munitions involves huge expenses, and if the factious South American countries, and the opposing elements in China were forced by the stoppage of foreign supplies to build their own arms factories, and had to rely on their own output, they would think twice before going to war. Moreover, the curtailment that would result from diminished markets would of itself relegate the armament industry to a far less...