The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-06-03


what is worse, threat of another
world war.
Armaments, Debts, Loans.
Turning his face toward Europe the
Down East Yankee who acted as a
megaphone for the House Of Morgan
brot UP the question of ornaments
and proclaimed his conviction that
they are in great need Of further
limitation of ornaments" and con-
Guided the sentence with the promise
that this country would lend them
every assistance in the solution of
their problems.
Nations engaged in competitive
ornaments cannot 0pay interest on
Wall Street loans, so the, White House
agent of Imperialism will extend the
assistance of this government to so
limit arms in Europe that Morgan can
make profitable loans to them. His
| comments upon ornaments were in
! line with the recent administration
proposal for a coming system of arms
limitations in Europe which in prac-
tice would disarm those nations in
Europe likely,to fight on the side Of
Britain and permit those potential
allies of this country to maintain
armies for Security
Dwelling upon the illusion that
Europe can recover its former stab
ility if it will consent to the benev-
client aid of the United States, Coo
lidge pictured new opportunities for
imperialist expansion:
"such condition will likewise
give opportunity to devote our sur
plus wealth, not to the payment of
high taxes, but to the financing Of
the needs of other nations. Our
country has already thru private
sources recognized the requirements
in this direction and has made large
advances to foreign governments
and foreign enterprises for the pur-
pose of re-estabIishng their credit
and their private industry"
Stripped of all its verbiage this utter
ance can mean nothing else but that
the interest of this !, country in Eu-
ropeau limitation of ornaments is
only for the purpose uof realizing OPP
portunities for investment of the
enormous surplus that flows in ever
increasing torrents into the hands of
American bankers from all parts of
the world where workers slave for
Yankee enterprises. The statement is
also noteworthy because of the adj
mission that this country thru priv
ate sources" has already made large
advances to European countries.
Those private sources" were the
Wall Street banking combines and
this Ntterance of Coolidge completely
Identifies the policy Of the government
with the policy of Wall Street as one
and the same thing.
Imperialism Rampant.
The memorial day address was in
every aspect one of the most fragrant
imperialist utterances ever recorded
Boiled down it means that this coun-
try is to maintain a powerful military
machine to defend its vast interests
|
means that the United States thru its
investments is becoming more and
more involved in all the conflicts OF
the old world; that countries securing
loans must be content to submit to
political domination by the agents OF
Wall Street who will dictate what
arms they shall and shall not bear
zone of the chief characteristics OF
imperialism is the fact that where
finance capital is invested the i'm
perialist government must be able To
dictate the political policy of the
country Then, as a climax to the
enunciation of the imperialist pro.
gram of the Mellon-C Coolidge govern
ment, we have a eulogy Of the debt
cancellations, the most fragrant OF
which was to relieve the tyrannical
government of the despot, Mussolini
of rs per cent of the italian debt and
place it on the backs Of American tax
payers in order that Morgan might
profitably extend his power to dom
nation of the industries of Italy.
cooIidee's Interpretation Of History.
While discussing the problems Of
war and reconstruction in Europe, the
person who wrote the Coolidge speech
felt called upon to dilate upon the
| general causes of wars, After labori
ously bordering the question he pro
duced the following gem of historical
Interpretation:
"Peaee has an economic founda-
ton to which too little attention has
been given. No student can doubt
that It was to a large extent the
economic condition Of Europe that
drove those overburdened countries
headlong into the world war.
Whole peoples were drilled and
armed and trained to the detriment
Of their industrial life, and charged
and taxed and assessed until the
burden could no Slonger be borne.
Nations cracked under the load and
sought relief from lntolerable pres
sure by pillaginu each other"
, Whila citizens of the United Statel