The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-04-25
Coolidge and the Capitalist Press

The manner in which the capitalist press dis
forts issues and conveys false impressions is we'll
shown up by the manner in which the Coolidge
speech was handled.
The few reluctant words the president devoted
to peace measures were played up in the headlines
and we have not the slightest doubt that millions
of American workers and farmers believe that this
was the high note in the address.
The Coolidge speech meant war-nOt peace. The
important point-and the reason that it was
delivered-was the whole-hearted endorsement of
the Morgan-Dawes plan for the subjugation Of
Europe to American inancecapital AS Scott
Nearing points out in his able analysis of the
Dawes proposals-published elsewhere in the
DAILY WORKER-the scheme hinges on the
granting of the right to issue German money
a basic right of rulers-to the international bank
that will be controlled by the House of Morgan.
No people, says Nearing will submit for any
great length of time to such oppressive measures
as the Dawes plan proposes to liquidate the cost
of the war for the allied nations. When it is
known that the German masses are to be enslaved
for a period of so years the scheme endorsed by
Coolidge becomes still more monstrous
The military power of France has failed alike
to conquer the working class of Soviet Russia and
to secure the fabulous required of the German
nation the European financial system-a tremen-
dous pyramid of debts topping 1t is the
hope of the House of Morgan, to whom most of
the debts are owed, to bulwark the forces of the
allied nations with the military forces Of the
United States in a last desperate attemptto wiring
from the working class of Germany and all
Western Europe the sums necessary to stabilize
the European budgets and liquidate the indebted
ness of the nations to this grsat combination of
international fnanciers.
If the plan works with any degree of success
in Germany there is not the least doubt-if the
attitude of our state department is guide to the
Russian policy of the House of Morgan-that a
new war will be fomented against the Soviet gov
eminent.
These are the two great problems upon the
solution of which depends, in large measure, the
continued existence of European capitalism: The
collection of the German PREPARATIONS and the
destruction of the power of the workers and peas
ants of Russia so that that great country can be
thrown open to unrestrained capitalist exploita-
ion.
The Coolidge speech is the first trumpet note
sounded in a campaign that WILL as surely as flags
follow capital investment, end in the American
masses being rallied for new world struggle.
There is no more important issue before the
workers and farmers than this and upon this issue
almost every accepted leader of the workers and
farmers is silent.
Let those who are trying to sabotage the mass
convention of workers and farmers called for June
II explain why in this critical epoch they do not
advocate break with the two parties of capital
ism-both of which are plant tools in the hands
of the House of Morgan and which have proved
their allegiance to the lords of finance and war
innumerable times.