ture
of plutocratic power.

The war speeded production and added greatly to the national income, to
investable surplus, to profits and thus to the economic power of the
plutocrats.

The most tangible measure of the economic advantage gained by the
plutocracy from the war is contained in a report on "Corporate Earnings
and Government Revenues" (Senate Document 259. 65th Congress, Second
Session). This report shows the profits made by the various industries
during 1917--the first war year.

The report contains 388 large pages on which are listed the profits
("percent of net income to capital stock in 1917") made by various
concerns. A typical food producing industry--"meat packing"--lists 122
firms (p. 95 and 365). Of these firms 31 reported profits for the year
of less than 25 percent; 45 reported profits of 25 but under 50 percent;
24 reported profits of 50 but under 100 percent, and 22 reported profits
of 100 percent or more. In this case, a third of the profits were more
than 25, but less than 50 percent, and half were 50 percent or over.

Manufacturers of cotton yarns reported profits ranging slightly higher
than those in the meat packing industry (pp. 167, 168, 379). Among the
153 firms reporting, 21 reported profits of less than 25 percent; 61
reported 25 but less than 50 per cent; 55 reported 50 but under 100
percent, and 16 reported 100 percent or more.

Profits in the garment manufacturing industry were lower than those in
yarn manufacturing. Among the 299 firms reporting (pp. 171, 380) 74 gave
their profits as less than 25 percent; 121 gave their profits as 25 but
under 50 percent; 65 gave profits of 50 but less than 100 percent, and
39 gave their profits as 100 percent or over.

The profits of 49 Steel plants and Rolling Mills (pp. 100, 365) were
considerably higher than profits in any of the industries heretofore
discussed. Four firms reported profits of less than 25 percent; 13
reported profits of 25 but less than 50 percent; 17 reported profits of
50 but less than 100 percent, and 15 reported profits of more than 100
percent. In this instance two-thirds of the firms show profits of 50
percent or over.

Bituminous Coal producers in the Appalachian field (340 in number, pp.
130 and 372) report a range of profits far higher than those secured in
the manufacturing industries. Among these 340 firms, 23 reported profits
of less than 25 percent; 45 reported profits of 25 but under 50 percent;
79 reported