The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1925-01-28
nusIINRyc CnrAVT
JRALEDNO Of EIv
ABROAD HOOVER
REPORT reveals
Congressman Exposes
Tool of FLUTES
lspseIaI q &c paIIy worker

WASHINGTON, Jan. 20
Billions of dollars of American
capital were invested in indus
tries in foreign countries last
year, while billions of dollars
more were sent abroad in loans
to foreign governments, ra-
port issued by the department
of commerce revealed today.
OF the 81, 20S, 43S,00O borrowed in the
United States, $537,77O,O 600 was sent to
Europe.
Securities were bought in the Wall
Street market from Canada and New
foundland amounting to 1924 POS, 600
and loans were made to Latin-Am-
erican countries amounting to 1894,
372,00O. japan and the Philippines
borrowed $3.50, 100000 in American
money.
U. S. Controls Foreign Governments
The past year has seen an attempt
to capture foreign markets, and con-
troll foreign governments by lending
money, which has been more ambi
tious than ever before. The interests
of the American bankers and indus
trialists spread to every corner Of the
earth.
The American Telegraph and Tele-
phone company took over the Spanish
telephone companies, and now cont
rolls the entire telephone system of
Spain Millions of dollars Of Standard
Oil money, and of Mccormick money,
made by the Chicago Tribune and the
International Harvester company
were invested in Venezuela oil fields.
The Standard Oil company invested
millions of dollars more in the Colum.
bian oil fields, the influence Of the
Standard Oil being successfully ex-
erted on the United States senate to
push thru a treaty making safe the
holdings Of the Standard Oil company
in Columbia
The Morgan banking interets loaned
the German government $4,000, 900
at good interest, loaned France $780,
100000 and Belgium $50,000,00O.
Hoover Owned by BIC Business.
Opposition has developed in the
house of representative to Herbert
Hoover's continual service to the large
capitalists. It is charged that Hoover
has turned the department Of com
nerce entirely over to the capitalists
I'D is trying to undermine the de
'artment of agriculture by turning the
arm organizations into pro-Coolidge
organizations which work in behalf OF
he large manufacturers and the bank
ers.
Representative Dickinson, of Iowa
submitted an amendment to the bill
appropriating $s,2e7,O64 for the bureau
Of foreign and domestic commerce
The amendment provided that nc
money should be spent by Hoover in
investigating agriculture. Dickinson
said the bill as introduced represented
a desire to 'Hooverize the country still
further, and the situation has come tC
such pass that even the selection Of
the secretary of agriculture is to be
made on the basis of some one named
by or satisfactory to Hoover"
SaIesmana1er for FLUTES.
Dickinson declared that 1.-THE activi
ties Of the bureau of foreign and do
nestle commerce indicate desire OF
the part Of big business to employ I
salesmanager abroad at the expens,
of the taxpayers. The collection Of in
formation at home and abroad could
well be left to the department of agri
culture" Dickinson complained tina
ii is now impossible for anyone t
pick mp paper without learning tina
Hoover has some plan for solving som,
problem for big business. He sale
Hooverization has already gone too
far.