U.S. At War: The Profiteering

The House Naval Affairs Committee, chairmanned by Georgia's dumpy, turtle-faced Carl Vinson, had set itself a tedious task: to investigate progress of the Navy building program, discover the profiteers and blast them.

Congress and the nation remembered that in World War I many corporations had made staggering profits out of ships and munitions.* For weeks Washington had been on the alert for the Vinson report, nerved itself this week to hear the report go off, dynamiting the profiteers of World War II.

The exposition was far from shocking:

The period chiefly studied for corporations was from Jan. 1, 1940 to November 1941. Of questionnaires...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!