PROFITS FROM ARMAMENTS

Timaru Herald, Volume CXXXVII, Issue 19759, 28 March 1934, Page 9

PROFITS FROM ARMAMENTS

SPIRITED REPLY TO CRITICISM British Official Wireless RUGBY, March 26. Presiding at the annual meeting of Vickers, Ltd., Sir Herbert Lawrence said as far as Vickers were concerned the inflated profits of private armaments firms existed only in the imagination of ill-informed critics. Referring to certain press statements, Sir Herbert took the occasion to emphasise that no company of the Vickers group was a member of any international armament ring. He added that in Britain and in Britain alone, the export of armaments was forbidden, except with the approval of the Government. The control of private armaments manufactured in Britain was far more potent than generally believed. The companies in the Vickers group took no part in politics, either in Britain or abroad, and neither directly nor indirectly had they any control over or influence with any British or foreign newspapers.

Referring to industrial conditions generally, Sir Herbert said definite progress had been made in Britain towards a trade recovery, and there seemed every prospect of this continuing. As for international trade there was hope that the artificial restrictions upon it would be removed as saner counsels prevailed.