The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1925-02-14
The Quest for Fresh Markets and the
Export Of Capital.

4 Aucrlcd was as We dlIeauy WIOL6
in an article regarding the issue of
the American elections, the conse-
quence of the improvement in the ia
vorable combination of circumstances
obtaining in the summer and autumn.
1t, in turn, gave fresh impetus to-
wards the further improvement of
the conjuncture. One of the American
democrat journals, that is, belonging
to the winning party, writes on this
OCCASION: Not in the memory of
this generation has president sat in
the White House in whom the finan-
cial interests of the country have had
more confidence than President Cool
idge." The reasons for this conf
dence are very clearly expressed in
trading circular issued by the Ameri-
can firm of Goodbody C Co. It states:
''The business community rejoices for
the following reasons: /. Because
radicalism, if not dead, is scotched for
at least three years. 2. Because the
appeal to the poorer classes. has pro-
duced but insignificant results politi-
cally. 3. Because the election demon
strated anew that the labor vote is
not controlled by the labor unions. A.
Because the railroads are expected to
be free from adverse legislation for
several years. 5. Because the feder-
al reserve banks will be unmolested
for several years, at least. 6. Be-
cause the tariff will not be tinkered
with by unfriendly hands. z. Be-
cause the election restored confidence
and removed Instructions to industry
and trade" C'Literary Digest" for
the 10Th of November.) In short, the
capitalist world having secured its
own government, which will be its
blind tool, has got down to business.
A few basic figures will show what
this industrial prosperity in America
looks like. The stock exchange has
been disposing of over 2,o00. 900 shares
per day, and has started 555 industrial
and trading concerns. This is the
highest figure since the. year 1896.
Clearing operations amounted in Oc-
tober to $4,000, 100000 This again is
a high figure, the highest since March,
1920. Along the whole line we have a
decrease in the number of bankrupts,
an increase in freightage. And while
the steel industry at the first Of July
was busy to 46 per cent below its nor
NAL, this figure had increased before
the first of November by IA per cent.
The prices on steel are growing. The
fundamental cause of this boom is
the high prices on bread, caused by
the bad harvest in Canada and Rus
STA. Wheat prices have reached one
dollar 81 cents. In one OF two jour-
nails the question is already being
raised of whether they have to deal
with the temporary surmounting of an
economic depression or with the be-
ginning of an immense Industrial
boom. 1t is of course quite under
standable that this question cannot be
answered theoretically. The capital
lists believe what they want to believe,
and it is a long time now since we
have seen the American bourgeoisie
in such an exultant mood as they are
at present.
The immense amount of capital ac-
cumulated in America is not only
seeking fresh markets for the dispos-
al of American industrial goods but
is likewise looking for direct markets
to which it may export its capital.
Last year London issued securities to
to the value Of 2,000.0O0,000 rubles;
3S per cent British, Al per cent col
onials, 81 per cent foreign. The Unit
ed States of America exported capital
abroad to the value Of 1900, 1000, 900
rubles, last year. During the first ten
months of this year London issued L.
400, 100000 rubles worth OF securities,
Of which 3OO,000,OO0 rubles worth of
these went abroad, while during the
same period New York issued securi-
ties to the value of 5000. 100000 rubles
and there went abroad more than g.
600. 900. 900 rubles. Thus, we see