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Story
June 5, 1942
The People's Voice
Helena, Lewis And Clark County, Montana
What is this article about?
During a U.S. House debate, members rejected $42 monthly basic pay for privates and apprentice seamen, insisting on $50, citing testimony on war profiteering by Lincoln Electric Company in Cleveland, Ohio, which paid large bonuses to executives and employees while saving millions in taxes.
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Reject $42 Basic Pay
During debate when the house voted to recommit to conference the report fixing basic pay for buck privates and apprentice seamen at $42 a month, and to insist on $50 a month, one of the members called attention to the testimony that same day of war profiteering before the house naval affairs committee.
The testimony pertained to the war profits of the Lincoln Electric Company, Cleveland, Ohio, whose president, James F. Lincoln, also is president of the Cleveland Chamber of Commerce.
This testimony was to the effect that this company, as the result of government contracts, has paid bonuses as high as $50,000 a year to its high salaried executives; bonuses ranging from $3,000 to $5,000 to employees earning from $30 to $40 a week, and set aside $1,000,000 for a trust fund. And it wasn't charity that prompted this, since, by paying out about $2,000,000 in bonuses and setting aside $1,000,000 for the trust fund, the company saved $4,438,916 in taxes to Uncle Sam.
It's true that $50 a month will never compensate the boys for risking their lives in defense of their country-no amount could - but why begrudge them a few extra dollars so they will have a little something in their pockets besides holes when they come back?
During debate when the house voted to recommit to conference the report fixing basic pay for buck privates and apprentice seamen at $42 a month, and to insist on $50 a month, one of the members called attention to the testimony that same day of war profiteering before the house naval affairs committee.
The testimony pertained to the war profits of the Lincoln Electric Company, Cleveland, Ohio, whose president, James F. Lincoln, also is president of the Cleveland Chamber of Commerce.
This testimony was to the effect that this company, as the result of government contracts, has paid bonuses as high as $50,000 a year to its high salaried executives; bonuses ranging from $3,000 to $5,000 to employees earning from $30 to $40 a week, and set aside $1,000,000 for a trust fund. And it wasn't charity that prompted this, since, by paying out about $2,000,000 in bonuses and setting aside $1,000,000 for the trust fund, the company saved $4,438,916 in taxes to Uncle Sam.
It's true that $50 a month will never compensate the boys for risking their lives in defense of their country-no amount could - but why begrudge them a few extra dollars so they will have a little something in their pockets besides holes when they come back?
What sub-type of article is it?
Historical Event
What themes does it cover?
Justice
What keywords are associated?
Congressional Debate
Soldiers Pay
War Profiteering
Bonuses
Tax Savings
What entities or persons were involved?
James F. Lincoln
Where did it happen?
House Of Representatives, Cleveland, Ohio
Story Details
Key Persons
James F. Lincoln
Location
House Of Representatives, Cleveland, Ohio
Story Details
House members debate and vote to reject $42 basic pay for privates and seamen, insisting on $50, highlighting war profiteering testimony about Lincoln Electric Company's large bonuses and tax savings from government contracts.