Seldes, George. Iron, Blood and Profits: An Exposure of the World-Wide Munitions Racket. New York: Harper & Brothers, 1934. 397 pages.

In 1921, the League of Nations accused armament manufacturers in Britain, France, Germany, Austria, and America of instigating and profiting from the World War. In this book George Seldes presents the evidence from official sources that the League failed to publish. The arms industry traded with its enemies before and during the war, promoted war scares in the newspapers, and sabotaged disarmament efforts. It supported dictators in Europe, lobbied and bribed government officials and bankers, and financed patriotic, defense, naval, air and army leagues. The war was prolonged for two years by the arms industry, according to military experts. This book was published one year after Hitler's 1933 triumph. Germany had begun rearming, with the approval of Mussolini. Meanwhile, nitrates, powder, airplanes, and airplane motors were shipped from U.S. manufacturers to Japan from 1932-1934. Seldes is worried that the entire pattern might be starting all over again.

"No reason for war remains except sudden profits for the fifty men who run the munitions racket.... History since the arrival of Big Business in armaments is largely the history of preparations for war.... The first real step toward [peace] is the destruction of the world-wide munitions racket. It will cost millions of dollars. It will save millions of lives."
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