The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1925-04-15
Decline in France Begins

The German crisis reacts on France and the
formation of a cabinet is made more difficult by
the uncertainty of the outcome of the German
elections.
The German rulers, uncertain as to the compost
tion of the new French cabinet unable to settle
on a definite program.
From England comes the report that the Easter
holiday closing of the stock exchange has made it
impossible to estimate the extent of the influence
of the French crisis, but it is known that any
favorable developments on the bourse will have an
echo in London.
So closely are the affairs of the nations of
Europe interviewer, so delicate is the balance of
the scales in international affairs, that internal
crises like those in France and Germany have be-
come matters of world Importance
The dissolution of the French cabinet comes at
a time when unemployment in France is at
minimum and this alone prevents it having wider
consequences. 1t has come because the French i'm
perialsts have not dared to tax the middle class
and the peasantry to recoup the war losses-be-
cause Germany was to pay the cost of the war.
The French government is bankrupt and des-
perate measures are needed to forestall another
crash of the franc Taxation is unpopular in
France, more so than elsewhere, and any govern
meut that tries to force a levy on the thrifty
bourgeosie will meet with disaster. The military
adventures of the imperialists must be paid for,
the vassal states must be kept in line, the army
and navy clamOr for additional appropriations and
upon the continued catering to the militarists de
ponds the supremacy of French imperialism in
Europe r...
But the French government is not free agent.
The international bankers demand guarantees for
further loans. If these guarantees are not given
down goes the franc and with it the stability Of
the French government. ,-rre
The threat of social revolution is present i'll
every crisis and this alone accounts for
the manner in which France has been allowed to
engage in her military enterprises while deferring
any attempt to liquidate her enormous debt. The
one continental nation that has been able to keep
her workers employed, France has backmailed her
creditors into postponing the day of payment
But all things have an end and France has been
compelled finally to realize that she is not country
separate and apart from international capitalism.
1t can be said with some certainty that the
course of development in France from now on will
parallel that of Germany-there will be series of
government crises which will become chronic, but
there will be this difference:
In place of an improvement in employment which
brought some temporary lessening of the pressure
in Germany, France will experience an industrial
decline due to the export of capital to escape heavy
taxation and to German competition.
The crisis in France then is the forerunner of
d uetpeT anu mOft COHulClOu OF IN
dustrial decentralization postponed artifcaly until
now but all the serious for that reason in its
consequences for the French ruling class.
The French crisis, coming at a time when the
apolOgists of capitalism boasting of the ten
dency towards stability is proof of the fact that
no sterilization of the whole of capitalism is pos
sible-that improvement in one nation is at the
cost of Generalization in another that the whole
course of world capitalism is downwards.