Homer Bone was born in Franklin, Johnson County, on 25th January, 1883. After leaving school he worked in the credit department of a furniture company. He then attended Tacoma Law School and was admitted to the bar in 1911.
Bone worked as a lawyer in Tacoma and became deputy prosecuting attorney of Pierce County in 1912. A member a member of the Democratic Party, Bone was a member of the Washington House of Representatives before being was elected to the Senate in 1932.
On 8th February, 1934, Gerald Nye submitted a Senate Resolution calling for an investigation of the munitions industry by the Senate Foreign Relations Committee under Key Pittman of Nevada. Pittman disliked the idea and the resolution was referred to the Military Affairs Committee. It was eventually combined with one introduced earlier by Arthur H. Vandenberg.
The Military Affairs Committee accepted the proposal and as well as Nye and Vandenberg, the Munitions Investigating Committee included Bone, James P. Pope of Idaho, Joel B. Clark of Missouri, Walter F. George of Georgia and W. Warren Barbour of New Jersey. John T. Flynn, a writer with the New Republic magazine, was appointed as an advisor and Alger Hiss as the committee's legal assistant.
Public hearings before the Munitions Investigating Committee began on 4th September, 1934. In the reports published by the committee it was claimed that there was a strong link between the American government's decision to enter the First World War and the lobbying of the the munitions industry. The committee was also highly critical of the nation's bankers. In a speech in 1936 Nye argued that "the record of facts makes it altogether fair to say that these bankers were in the heart and center of a system that made our going to war inevitable".
Bone resigned from the Senate in 1944 and became a judge of the Circuit Court of Appeals for the Ninth Judicial Circuit (1944-56). Homer Bone died on 11th March, 1970.
It would not be fair to say that the House of Morgan took us to war to save their investment in the Allies, but the record of facts makes it altogether fair to say that these bankers were in the heart and center of a system that made our going to war inevitable. We started in 1914 with a neutrality policy which permitted the sale of arms and munitions to belligerents, but which forbad loans to belligerents. Then, in the name of our own business welfare. President Wilson permitted the policy to be stretched to the extent of permitting the house of Morgan to supply the credit needs of the Allies. After this error of neutrality, the road to war was paved and greased for us.
Almost without exception, the American munitions companies investigated have at times resorted to such unusual approaches, questionable favors and commissions, and methods of 'doing the needful' as to constitute, in effect,
a form of bribery of foreign governmental officials or of their close friends in order to secure business. These business methods carried within themselves the seeds of disturbance to the peace and stability of those nations in which they
While the evidence before this committee does not show that wars have been started solely because of the activities of munitions makers and their agents, it is also true that wars rarely have one single cause, and the committee finds it to be against the peace of the world for selfishly interested organizations to be left free to goad and frighten nations into military activity.
The Committee wishes to point out most definitely that its study of events resulting from the then existing neutrality legislation, or the lack of it, is in no way a criticism, direct or implied, of the sincere devotion of the then President, Woodrow Wilson, to the high causes of peace and democracy. Like other leaders in government, business and finance, he had watched the growth of militarism in the pre-war years. Militarism meant the alliance of the military with powerful economic groups to secure appropriations on the one hand for a constantly increasing military and naval establishment, and on the other hand, the constant threat of the use of that swollen military establishment in behalf of the economic interests at home and abroad of the industrialists supporting it. President Wilson was personally impelled by the highest motives and the most profound convictions as to the justice of the cause of our country and was devoted to peace. He was caught up in a situation created largely by the profit-making interests in the United States, and such interests spread to nearly everybody in the country. It seemed necessary to the prosperity of our people that their markets in Europe remain unimpaired. President Wilson, himself, stated that he realized that the economic rivalries of European nations had played their part in bringing on the war in 1914.
Loans extended to the Allies in 1915 and 1916, led to a very considerable war boom and inflation. This boom extended beyond munitions to auxiliary supplies and equipment as well as to agricultural products. The nature of such a war-boom inflation is that, like all inflations, an administration is almost powerless to check it, once the movement is well started. Our foreign policy then is seriously affected by it, even to the extent of making impossible the alteration of our foreign policy in such a way as to protect our neutral rights.
No member of the Munitions Committee to my knowledge has ever contended that it was munitions makers who took us to war. But that committee and its members have said again and again, that it was war trade and the war boom, shared in by many more than munitions makers, that played the primary part in moving the United States into a war.