The labor world. [volume] (Duluth, Minn.) 1896-current, 1916-12-02
SURPLUS PROFITS
Of TRUSTS PERIL
AMERICAN PEACE
BY BASIL M, MANLY.

BY BASIL NJ. MANLY.
WASHINGTON, D. c., Nov. o.
War prosperity is pouring into the
Golfers of Americas money barons
billions of dollars which are not al
lowed to remain idle, but are already
at work earning more dollars for their
owners.
What is being done with them?
Are they being put to work to make
America strong and efficient, to de-
velop her unused resources, or are
they being sent out into the world to
fight the dollars of foreign capitalists
for the loot of the weaker nations?
Just now the foreign dollars are not
in fighting trim, hut this will only
make the battle more unr4lenting
when they are free to take the field.
When dollars fight dollars in the
foreign field, human blood must be
shed to settle the right. The European
was is the supreme evidence of this
truth, and our own ENVIRONMENTS in
Mexico stand as visible proof
Exploit Mexican People.
Foreign trade is good. It would
have been in the interest Of peace for
the United States to have had an
enormous trade with Mexico, sending
her our manufactures in exchange for
her copper, gold, mahogany and
hemp. But concessions, spheres of
influence" and monopolization of an
other country's natural resources are
an entirely different matter. They
spell war.
The evidence is conclusive that the
great American money powers do not
intend to utilize more than a small
portion of their surplus billions in de-
veloping American industries or nat
ural resources.
They say our railroads need $780,
100000 of new capital each year, but
the money trust is taking capital avail
able from increased earnings out Of
the railroads, rather than putting
it in.
Neglect Home Country.
Up-to-date equipment is sorely
needed in many of our industries.
Water power lies unused for want of
capital in all parts of the country.
Reclamation work is left exclusively
for the federal government to finance
out of it's hardpressed resources. And
at the same time billions are being
sent into foreign trade fields.
Under the leadership Of the National
City bank, the heart of the money
trust. the American International cor
poration has been formed to invest
the surplus wealth Of the Morgan
Rockefeller group in foreign fields.
Control Of South American resources
is their objective and large invest
ments are already under way in Peru,
Argentina and Brazil.
The beef trust is sending it's surplus
out to complete it's control of meat in
Argentina and Brazil.
Steel Trust in China,
Judge Gary has just returned from
trip to the orient, where his main
objective was investment Of the steel
trusts surplus in securing control of
the wonderful iron and coal deposits
IN China If proper understandings
could be had with Japan.
The Guggenheims have parties of
engineers and prospectors scurrying
all over South America on the lookout
for copper bonanzas. In this hunt
they are in keen competition with the
Standard Oil-Ama1gamated Copper in
terests.
The sugar magnates are reported to
have their eyes on great concessions
in Brazil.
These mad rusles for control of
South American natural resources are
a real menace to the peace of the
United States. The South American
nations will resent "gringo domina-
ton even more bitterly than the
Mexicans.
To get clear sense of their feel
ings, imagine that German or Russian
capital was ostentatiously attempting
a corner on our mineral resources and
our meat supply.
Trusts Foment War.
A demand for expulsion and confis-
cation would become a national issue
inevitably.
Hatred of the hyphenate would be
mild in comparison. With the volatile
Latin temperament of the South
Americans, the result will be even
more sure and speedy. Then will come
the call for the American army and
navy to revenge outrages upon Ameri-
can citizens.
The American people have a rouble
interest in this question of the dispo-
sition by capitalists of our surplus
wealth. Its investment at home is
needed to insure our national develop
ment and it's investmen abroad should
be checked to safeguard our interna-
tional relations.
nDCn0hI lAI0kiTRI