The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-10-15
Morgan Floats Loan But
1t Will Not Put Bread in
the Mouths Of the Hungry
BY J. LOUIS ENoDAHL.

TODAY the full power of the House of Morgan is back Of
the sale of the $2oooooooo worth of the per
gold bonds of the German External Loan, 1924"
The sale began the stock exchange in New York
City, few minutes after the buying started London.
Every clever scheme known world bankers Wall Street,
New York. and Lombard Street, London, brought
pear 10 puttne loan over ror world capitalism in crisis
faces new death struggles with continuously growing dis
content everywhere.
There doubt that the loan will be fully subscribed
Morgan has that When the stock exchange opened
Morgan announced that his books closed that his ao
had been oVersod Other brokerage had been
prompted to make the same announcement
=, The result was that the sale Of the bonds opened at
Morgan had carefully announced.
Efforts to put the loan over were no less carefully made
than the plan rope many small subscribers pos
sibe The loan must be distributed among anv small bur-
chasers. That will make possible work up
favor of the collection of the loan whenever threatened
to Wall Street "orphans and widows" seeking amounts Of
$1,000 and $1,000 Subscribers for larger sums had their
aIlotments scaled down.
In France years ago the sale of the bonds Of the Russian
czarist regime scattered among Wetodo peasants in
large numbers The French mpeasts have tried to use this
fact in the demand made the Soviet Republic for the pay
ent Of the cars debts before there can be French ecogn
Similarly, Morgan many pockets to be hit as
possible in order to bolster up sentiment for any possible war
that might waged to protect the Morgan
loan to Germany and other loans of the House of Morgan
in Europe.
1t costs Germany just 100000 to have its loan oated
in the United States Of this the bankers took $550000o
commission estimating that the loan underwritten
the dollar was to be sold at 90 cents. But
Morgan started the loan off ga 38 CENTS meaning that
the bankers taking increased ake-o The difference
what the bankers and the dollar supposed to
be of the inducements for the public buy But the
bonds not supposed be paid in full for rs years. The
bankers take their money now and let the public that bites
on the loan worry about what going to take place during
the quarter of a century.
The bankers careful to it that if the loan is
not padf it is repudated by German Soviet Republic
the investors will be the first and worst sufferers.
Reports from Germany indicate that Morgan-Daw
it
Germany the road Industrial recovery Business is
stagnant ever unemployment and short time work
increasing In contrast with the coming from all
tons of Soviet Russia that the annual fairs everywhere
great successes the from Germany that fairs
Leipzig, Cologne and Frankfort tremendous disap
pontnents 1t is announced that Germany about be-
the highest priced country Europe which that
stances than The workers the first to be hit by
high prices In Germany labor caught between the
work the other 1t is scissors that closing upon
the whole German working class, Germany
signs of relief from the Dawes plan, indications
of industrial recovery that might temporarily relieve the
situation.
Now than ever, it apparent that the only road
open the German workers is the struggle for the
quest of all power thru Soviet Rule.
The German workers will strike again for victory. In
the hour of their heroic efforts to hu not only their
capitalists, but foreign capitalists WE'LL from their backs,
Americas workers farmers stand with them,
in every possible way.
World capitalism its next defeat in Germany.
Americas workers must hail the coming victory OF Ger
manys workers the herald Of their triumph in this
country.
Soviet Rule in Russia repudiated the cars debts
Soviet Rule in Germany will repudate the debts to Nor
gan and the World Bankers.
Soviet Rule in the United States will unseat Morgan's
power at home and assure the victory of world labor
Free Press puts xray keep shut