PROFITS: Sense In War Contracts

In Washington this week a big spotlight was thrown on one of the most important, least understood U.S. laws. The renegotiation law was passed by Congress last April to govern the process whereby the Army & Navy regularly negotiate their war-production contracts over & over again to prevent excessive war profits. In the spotlight was a lucid, compact 19-page report by the Senate's hard-working Tru man Investigating Committee. The report lambasted the four price boards (Army, Navy, Maritime Commission, Treasury) for "confusion [and] too much secrecy," and suggested improvements.

To U.S....

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