The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1922-12-29
WASHINGTON GOSSIP
By PAuT, HANNA

our diplomacy. When their holdings
IN lnter-allied war bonds were grave
~ threatened in the spring of 1917
| the United States declared wal
against Germany.
Inns same group of bankers, known
as Wall street and typifed by the
Morgans, espoused the league of ma.
tons plan and counted upon it tic
make all their foreign paper worth al
least 100 cents on the dollar. When
the senate rejected the league of ma
tons and Harding was named to re-
place Wilson the investInent canitaI.
lists received their first solar plexus
blow and We're floored by the industrial
capitalists, led by the Standard Oil
| company. Standard Oil and what it
stands for has governed the United
States ever since Wilson came back
from Paris.
Boles Penrose, feeble old baron
Of Republican politics, sat in his Of
flee here and damned the Morgan
bankers roundly in the spring of 1920.
On the other hand, he extolled the
local or domestic banker who, he said.
lends money to home Industries, keeps
men employed and aids in production.
At the coming party convention the
Republicans would put up a man op-
posed to "internationalism" and the
scheme of the Morgans to suck the
world dry through a supergovernment
called the league Of nations. There
is no need to recall the private tele-
phone wire that ran from Penrose's
sick bed in Philadelphia to the Chi
cago convention which nominated
Harding.
Henry Morgenthau broke a lance
for the international investment bank
ers when he exposed the aid given by
the state department to the Standard
Oil people in Palestine. Harding's
newspaper organ here retorts immedi-
ately that "Morgenthau is pleading
for Wilson internationalism and the
league of nations"
This White House newspaper, the
Washington Post, adds that "offi-
Gals have long since abandoned any
hope of converting these information
allsts, who comprise perhaps one-half
of one per cent of Americas popula-
tion." In other words, the G. o. P.
is joined in more or less holy we'd
lock with the Rockefeller idea-let
Morgan and the Democratic party
make the most of it.
That puts in fearful jeopardy all
the money that Wall street has sunk
in the Anglo French loan of 1916 and
other paper issued by groggy Euro
pean governments. 1t explains why
the ''half of enc per cent" TANNED a
resolution through the American
Bankers association convention in
October calling for cancellation of
Europe's debt to the United States
in order that Europe might pay its
debt to the Wall street bankers. Many
began automatically to
support the cancellation idea. Then
Standard Oil made its influence felt
and we hear little about it at present.
Insolvent Europe is one big bar
gain counter of natural resources for
the industrial capitalist. It is only
the men who hold the notes issued by
the bankrupt who cry out for Ameri-
ca to do her duty"
Sell short on French francs is the
current word among spectators in
foreign currency. On January Is a |
French army, black and white, will
invade Germany and seize the Ruhr
coal region, according to present |
plans. That invasion will be the sig
nal that France no longer expects
Germany to pay the indemnity. Ex-
4ton
is all that has kept France
from q collapse these past two years.
After January Is the great hoax will
De exposed.
Incidentally, the present regime in
Germany will probably give it's last
gasp when the Ruhr is taken away, so
hat all of Europe, from Poland to the
Pyrennes will become a whirlpool of
ost hopes into which several sur
nations may be drawn.
The Morgan banking group tried
4 last means to avert this disaster to
heir investments. They wanted the
United States government to grant a
big loan to Germany which might
lave stimulated German industry and
Yielded a little some day to the French
,reditors. But the French forbade
hat loan. Paris knows that ruin lies
,nly a few months ahead; it cannot
wait for investments to mature and
,ear interest. Also, the French would
.ather have German coal lands 1cw
han a little money from Germany
many years hence. 1t is a" wild
yamble to save French capitalism,
tut there is no alternative.
BISMARCK CASHIER CHARGED
WITH ENLIGHTENMENT
E,rro nj n Toe Cc The r,sn. |