The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1925-07-11

role Of the American imperialists.
We need not go thru ponderous edi-
torials. We need not even attempt
to read between the lines in order to
have evidence of the growing power
of the dollar in international politics.
In a sense, all we have to do to get
line on the swift and menacing adj
vances being made by the Yankee
capitalists to dominate international
finance and politics is to glance at
some of the big advertisements in the
financial columns of the daily press.
A fifteen million dollar loan for the
city of Berlin; a twenty million dollar
loan for bank in Chile; five mil
lion dollar loan for the province of
upper Austria; and huge loan for
province in the Argentine-all in the
brief period of few days! These are
the announcements to be seen fiaunt-
ing the face of the reader in the bold
est OF type.
Three Gigantic Strikes
THIS Is the terrific pace at which
L American capital is being export
ed. Last year our bourgeoisie export
ed more than a billion dollars worth
of capital TO every corner Of the globe.
Three significant events mark the
development of this "dollarization'
process of the world.
1. The organization of the Federal
Reserve System as a means of -co-or-
- swr ocfv4 he rto hf1ifv nd
centralizing American finance.
2. The change in the gold-holding
relationship among the capitalist
countries.
s. The change of the United States
from a debtor country into creditor
country.
These three events are of monu-
mental importance in an analysis of
the growth of American imperialism
into the giant stage which it has
reached today.
The Federal Reserve System be-
came the unifying force in the finan-
cial system Of Wall street when the
world war FASTENED the assumption
Of world capitalist leadership by the
United States. Then, having become
the manufacturer as well as the pam
try Of the world because of the funda-
mental disruption of the European
economic order by the years of in
fernal slaughter, the United States be-
came the possessor of the greatest
quantity of monetary gold ever held
by any national group. American cap
italists now hold more gold than the
rest of the world put together. The
climax in this series of imperialist
strides is the role now being played
by the Yankee bourgeoisie as the
greatest creditor in the world Before
the world war the American national
capitalist group was debtor nation.
Significance Of Huge Capital Export
THE struggle>for the control OF the
L markets for the sale of manufac-
tured and food products has been a
source Of capitalist wars. For the
bourgeoisie of any country the GER
tainty Of controlling market to
which they can export their surplus
commodities, a market in which they
can sell the articles produced by but
taken from their exploited working
class, Is paramount importance. The
actual and even greater potential
value Of China as a market for these
commodities is perhaps the most pro-
life source Of dissension among the
international imperialists in the Far
East.
But for the weaker and colonial peo-
pies themselves the conflict among
the imperialist powers for the control
Of these economically underdeyeloped
countries as fields for the investment
of surplus capital is an even more
acute menace. In this instance, far
more than in the conflict among the
various strong bourgeois national
groups for the domination Of the
market for the sale OF manufactured
and food products, the weaker colonial
pooples tend To become paWns on the