The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1925-02-14


Austrian loan of 100000 900 rubles got
100000 subscribers, while the Japan
csc loan of 3O0,0OO,OOO rubles found
$4,000 subscribers. The low percent
age paid by the American banks has
broken "the fear of the unknown"
among the members of the petty and
middle bourgeoisie and every year
sees more Of their money being placed
abroad.
1t is very interesting to throw even
a cursory glance at the places absorb
ing American exported capital. Dur
ing the course of the first ten months
of 1924, the United States of America
lent the Argentine S0,OO0,OO0 rubles,
japan 100000 900 rubles, Switzerland
60,000.00O rubles, Holland SO,OO0.OO
rubles, Czecho-Slovakia nearly 2O,000,-
900 rubles, Hungary 100000 rubles,
Norway 100000 rubles, Belgium
60,000,000 rubles, Canada 2S0,000,000
rubles, Germany 220,000,0O0 rubles,
France 2OO,OOO,OOO rubles, besides
floating a number of municipal and
private loans. No wonder that the
newly elected president of the United
States, Coolidge, declared: I'VE can
not hope that we will always be an
island of fortunate ones living far
from the rest of humanity. If we were
unable to avoid participation in the
world war, whose causes had nothing
10 do with us %, how then can we
.hink that we will evade responsibility
for other world questions, which must
be solved in an atmosphere of peace
and good will"
Let us set aside Mr.. Coolidge's
peace and good will" In further ar
ticles we see how this good will" is
finding its expression in plans for
maneuvers, in agitation for increased
ornaments, ETC., etc. The American
president, put into power by party
which in 1920 defeated Wilson under
the slogan of isolation from the rest
of the world, expresses in these words
the fact that American capital has al
ready penetrated into all countries of
the world, this fact being today one
of the main driving forces in world
politics. At the present time the
American newspapers are full of ar
ticles devoted to the trade of Ameri-
ca thruout the world, the export of
capital and all the other conflicting
questions Of world politics. This is a
change which can only be concretely
conceived Of by those who followed
up Americas attitude to world ques-
tions in the period from 1919 to 1922.
Having preserved it's own industry
from the attacks of world competition
with the help of an unusually high
tariff wall, the United States of Amer
lea are competing to an ever increas
ing degree with all the other coun-
tries of the world, and are utilizing
for the purpose of carrying on this
competition their own accumulated
capital, the export of which represents
nothing other than powerful instru-
ment for the granting of long term
credits, a thing America has hitherto
been very unwilling to do.
While the export of capital at pres
ent as a burning question, occupies
the first place in America, in England
the first place is occupied by the ques-
ton of Increasing the export of goods.
In a recently published work "The
Economic Position of England in the
World" Edgar Crammond, the Stats
tician, calculates that as a result of
the war the British national income
has considerably decreased. If the
corresponding figures be compared
with the altered purchasing power of
money, we find that while in 1914 Bril-
tain had national income Of "a mil
lard rubles, today she has only 81
milliards; it has sunk approximately
to the national income of 1907. Added
to this decreased national income,
there is the heavy burden Of a con-
siderably increased public debt, lead
ing to the quadrupling of the budget.
It is for this reason that Britain,