Show I I I War Profits 1 I ITHE HE British ministry of munitions has just T THE issued a report covering government trading acco accounts up to March 31 1919 which shows a remarkable result The total accumulated profits on all raw material material amounted to pounds sterling To this is is still stitt to be trat transferred the profit on underwriting of colonial wool from the war and marine risk account and from it must mu t be made certain deductions for rebates etc Thus corrected the net profit accruing to the imperial British treasury from its business transactions transactions transactions trans trans- actions during the war war transactions transactions that had heretofore all been handled by private business but which under the stress of war necessities the government had to assume assume amounts amounts to pounds pounds pounds-at at normal exchange The raw materials directorate as it was called handled millions of bales and packages and linked up its quantities purchased and sold with the cash paid and received for the same Every single trading account has been run ata at ata a profit On not a a. single item of all the millions mil mu- lions Hons handled by the government did it lose mon money y It insured its own goods against submarine submarine sub sub- sub sub-i marine and other dangers and paid its losses itself Every penny advanced by the imperial I treasury has bas been refunded to the treasury plus interest on the capital expended although large stocks of material especially of wood have yet yetto yetto yetto to be sold In other words the the thc directorate Isnow is isnow s snow now on velvet These raw materials were largely used in the thema ma manufacture facture of military military equipment equipment and the direct di di saving thus secured on the cost of military supplies was an infinitely more valuable result than the profits shown |