Let the officers and directors of our armament factories, our gun builders and munitions makers and shipbuilders all be conscripted—to get $30 a month, the same wage paid to the lads in the trenches.

Let the workers in these plants get the same wage. All workers, all executives, all presidents, all directors, all managers— everyone in the nation be restricted to a total monthly income not to exceed that paid to the soldier in the trenches.

https://archive.macleans.ca/article/1934/10/1/the-best-way-to-stop-war

You're right, it's not socialism. But it's a bit more nuanced that it first appears, he wants them to conscript the capitalists as well. The main flaw is that the capitalists would most likely stage a coup, assassination, or some kind of revolt (ie: the american civil war) if their profit was threatened.