“Profiteering seems to be the latest stunt”

The male friends of the Dodeka Club in Reading discussed what would be called spivs in the Second World War – people who abused the regulations to make money.

The 304th meeting of the Club was held at Cresswell’s on Friday 7th Nov 1919…

Cresswell then read a short paper on Profiteering. “Profiteering”, he said, “seems to be the latest stunt, & like most other varieties of this breed is the victim of exaggeration. No doubt in many cases advantage has been taken of the situation & too high prices have been charged, but when one looks at reports of the Tribunals the trivial results are far from convincing that the real culprits have been found.”

He referred to the unfairness of selecting one particular article from a varied stock & saying only so much profit should be charged upon it, when other goods in the same shop do not bear the same profit as the tribunal decides is reasonable for the article complained about, & stated that from some of the decisions of the tribunals, which have been published, it is doubtful whether they are sufficiently alive to what is really a fair profit as affecting a certain article or a certain trade to appreciate the difference in articles & trades…

Cresswell concluded his remarks with the belief that the chief way of bringing about lower prices will be by increased production & in consequence more competition based on a fair living profit will right many of the evils existing today.

An interesting and at times warm discussion followed. It was apparent that members were fully of the opinion that profiteers do exist even if there are none amongst the members of the Club.

Dodeka Club minutes (D/EX2160/1/4)

Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: