SIX PER CENT--THE GOLDEN MEAN

Irenee and Pierre du Pont admitted to a Senate committee yesterday that a profit of six per cent, plus an occasional bonus "to speed up work and encourage invention," would be sufficient for munitions manufacturers in a forthcoming war. This is an eminently reasonable attitude. Six per cent on a billion or so will provide any little luxuries that the family may require, and an attempt to obtain more might encourage some unthinking persons to question the whole matter of private profit in wartime. Besides, the returns from the last international skirmish have probably left a small balance in the fraternal savings-bank account.

There has been a comparison made between the drafting of men for the army and navy and the freedom allowed owners of capital. It has been claimed that the products of manufacture should be exacted as readily as arms and legs, eyes and heads and lives. Such arguments, however, insult the patriotism of the armorers, all of whom would gladly give their last drop of blood, if necessary, for the good of their country. It is indeed the highest type of national service to supply the troops with the materials of defence--at a profit of only six per cent. As for the suggested bonuses: these sums will be donated to the Red Cross or returned to the government in the form of Liberty Loans--at a mere three per cent or so.

Any attempt to draft capital would be disastrous to the prosperity of the country. Only by allowing reasonable profits on the weapons of destruction can millionaires be created, and without millionaires there can be no stock-market booms. Six per cent is enough, though: one mustn't be avaricious.