Against profiteering

From ‘The Essential Need’, The Spectator, 12 June 1915: Just as wages must be ‘stabilised’ for the men at existing rates, so all additional profits due to war contracts must be credited, not to the individual employer, but to the state. The principle of no war rise in wages must be strictly applied to profits. Upon this foundation we could build up a sound organisation for the increased production of shell and other munitions, and build it up without unfairness either to masters or men. Both would become the agents of the government, and both would be fairly remunerated, but during the war neither would be able to take advantage of the needs of the state to increase that remuneration unduly.