The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1925-04-21
u. S. Imperialism Piles
p Billion Dollar Debt
Load on World Labor
BY J. LOUIS ENoDAHL.

TO-DAY, American capitalist imperialism rapidly breeds
enemies all the continents. AS it faces world
of debtors faces world of foes There have been
friendly relations between debtor and CREDITOR especially
when the debtor shows his inability pay American dollar
rule as money lender confonts whole host of debtor
The other day Washington sought to apply little
Roumana Immediately responded with the suggestion to
have commission investigate. And that will be the end
o. rn ,a Tor ene de oeng st at me same time Morgan
monarchy Of Spain, to otterng Musson rule in Italy, and
to bankrupt fascism in Greece.
For the loans of the United States government to
foreign nations with the interest that has never been paid
This is nearly equaIed by the $1oOoooooooo of Amer
lean private investments and loans in foreign countries
pared to niggardIy $2ooooo0ooo when the world
broke out in 1914. In 10 years 500 per
The interest alone these 10 billion dollars Of private
investments up the staggering $65ooooooo
annually Wall Street is the go-between in floating these
private loans and is the interest these loans that is
paid, if any, while Washington goes Begging
These loans made foreign capitalist governments
Nothing has been heard of credits extended the Union of
Soviet Republics
The ten billion dollars include investments in foreign
projects owned and controlled by American investors like
copper and oil properties in South America and Mexico
and private loans to foreign governments and municipalities
such as the Morgan loans to France and Belgium
Gales the socialist president of Mexico thru Amer
lean investments and loans in that country, is
under the control of Wall Street the radical socialist
PREMIER Herrot showed himself to be in France Heriot
had to go when his services were longer wanted.
publicly offered
the United States tor the first three months Of this year
totaed compared to 100000 for the
period last year. The debtors needed 600 this
year keep going New debts oated pay old debts
But the new debts necessarily larger than the old debts
because they must also include interest payments in
addition to loans pay off old obligations big sums
ing this year. were needed pay pressing obligations notab
y expenditures for financially burdensoe armies naves air
fleets, in great part ito maintain order home against
restless workers. The league of nations has just granted
permission to Bulgaria to increase its military strength
maintain its fascist rule its workers and peasants
The money hunger OF Western European capitalism is
shown by the report that during the first quarter of 1925
borrowed $13oo00o00 in the United States compared to
$1OOOOOO0 during the months last year. The 1925
loans thus far consist of 81 issues Last year they
bered only n.
There doubt those foolish enough to believe that
these loans will day be paid j. Perpont Morgan how
doesn't believe it. More than that he doesn't wish it.
If all debts paid which impossible, Morgan would
have to go out of business. Loan making would be
end The international money lender would be of job
But Morgan and all the other great fnancers of Wall
Street know that their jobs long capitalism
lasts Just long labor permits itself cruelty ex-
plotted of the taskmaster to the last drop of
blood just long will be possible for the American money
lenders to make new loans and collect increasing interest
toll, now reaching towards one billion dollars annually
Even the excessive spending of the jazz Of American
capitalism absorbs but small of the
and the profits OF American industry New fields of invest
ment must be found for the surplus. Hence new loans
More work for Morgan Increasing foreign debts collect
interest on.
Right now American imperialism is showing the might
Pacific.
But the army the navy the air fleets will fail in time of
war; war to make the workers of other nations pay the
exploited workers and poor farmers at home refuse SUBJ
mit refuse to fight Wall Streets The feeling grows
mo aid to Morgans collecting agency No drop of workers.
blood to shield Morgans loans"
Workers of other nations will repudiate the debts owing
to Morgan American workers will in time, repudate Morgan
rule Then falls capitalism in the United States of America
Only the world proetaran dictatorship free world labor
from the world dollar dictatorship