Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-05-06
Selected by Tavenner

peeH "Iltten IN the SuDJusatlon VI
Mexico, in Central and South America,
had not the Monroe doctrine inter
vened
We should be slow to accept the
statement that this is movement for
the promotion Of foreign trade, as the
organizers of these corporations de-
clare and as patriotic business men
have been led to believe. AS has been
seen, none of the countries of Europe
has materially advanced its trade
and commerce by the organization OF
banking institutions for that alleged
purpose. Rather the foreign banking
agencies are engaged in obtaining
concessions, building railroads, Sc
curing mining, land and oil grants, IN
the making of loans to weaker powers,
and in cooperating in the sale OF mu-
nitions.
and an examination Of the inter-
ests of the banking institutions that
are promoting the new corporation
shows that their relations are not in
the field of manufacturing trade and
commerce at all They are in the
field of monopoly, finance and specula-
ton.
"As happened in Europe, it is nee
essary to give a patriotic sanction to
financial Imperialism to identify the
nation with its program. Wall street
can easily finance a dozen $5000O,0 600
corporations. But that would leave
them Wall street corporations. The
flag would not willingly follow their
investments; the nation would not be
a complacent collection agency for
such questionable claimants; so the
new international corporation is to in
clude as many other interests as pos
sible. Such strength is needed, the
announcement says, as can only be
found by arousing the interest and Sc
curing the cooperation Of the entire
country. tits necessary to make it a
national undertaking and appeal tc
the confidence, enterprise and pa
triotism of the American people.
mo element is lacking in this new
imperialism Of finance which, under
the glamour of patriotism, aims to
exalt America to the dignity of Great
Britain, Germany, Russia and France
as a world power" Line by line the
history of the exploitation of defense
less people. is foreshadowed in the
program that privilege would have
US enter upon. High finance, the
making of munitions as colossal prof
its, overseas exploitation, dollar di-
plomacy, and great navy ready and
| willing to demand the open or the
closed door IS the immediate advan-
/ tage may distate, these are the ele-
ments of financial imperialism thai
have brought Europe to its present
| end
| only the chance election of a pres
ident might determine the uses tc
which this preparedness would be put
with the power of high finance, the
control of the press, and the invisible
powers Of privilege ready at a mo-
ment's notice to urge the unleashing
of guns in the name of dignity and
national honor
This is the program of prepared
mes offered by those who have monop-
olized the railroads and public ser
vice corporations, who have seized
the iron ore, coal and copper deposits
Of the nation, who have enclosed the
public domain and laid their hands
upon the banks and credit resources
of the nation, and who, having ex'
/ plotted PROSTATE America, are now
turning wistful eyes to the virgin op.
| portunities of weak and defenseless
peoples in other parts of the world.
"Yet these same classes are unwill-
| ing to bear their share of the cost Of
preparedness; they cry confscatior
when taxes are suggested on the
things they own no heavier than Eng
land and Germany were carrying ir
times of peace. They suggest that the
cost should be borne by higher tariff
and by indirect taxes on the things
the peoples consume.
Democracy has a right to insist
that preparedness is not merely de-
mand for private profit; that an in
creased navy is not designed as al
agency for the promotion Of oversee.
finance, and that militarism shall mo-
be the grave of the things we hole
most dear
In later bulletin the committee
will quote what Dr. Howe has to sa,
about war and labor.