PROFITEERING.

Colonist, Volume LX, Issue 14654, 7 March 1918, Page 6

PROFITEERING.

SOME TELLING FIGURES

The administration of tie Commonwealth Defence Department is be fug vigorously criticised by Australian I papers. In some quarters the resignation of Senator Pearce. Minister of Defence, is demanded. The Premier of Queensland, Mr. T. J. Ryan, speaking at Townsville the other day, said that Australia" had been wholehearted and unanimous ttroughout the war in tlio desire to achieve the great objective foj which the Allies are fighting—the preservation of freedom and civilisation In the overthrow of militarism and the souring of universal and lasting peace. Mr. Ryan declared ttafthe shippino-fon-panies- in England had incrWsea ' -ieir profits from £20,000.000 in 1913 to J-he stupendous amotsnt of £135,000,001) in 1916, representing an increase in -"ivirloMuls of from 10* r>er cent, in 191.3 to"67j per cent, in 1916, and this Immense profit was shown in 1916 after -^lucting n. war -profit tax of £115.000.----"00. Another shipping company, which had a line of steamers tradintr in Australian waters, lad. increased its profit*.1 from £534,000 for the six months ended September, 1915, to £1.79/1.000 for the corresponding period in 1916.

CABLE NEWS.