[4] The term was popular in antiwar circles of both the left and the right, and was used extensively regarding the Senate hearings in 1936 by the Nye Committee.

The failure of the committee to find a conspiracy did not change public prejudice against the manufactures of armaments, thus the popular name "merchants of death".

[5][6] Extraordinary arms sales produce fear, hostility, greater munitions orders, economic strain and collapse or war.

Munitions companies engaged in bribery of foreign governmental officials to secure business.

Featured companies include DuPont, Colt, Remington, Vickers, Schneider-Creusot, Krupp, and Škoda Works.