davidaulloa/AmericanStories huggingface dataset:
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
DE-BUNKING LABOR BANKING.

mated extends loans to manufactur-
ers though not to clothing manufac
turers. The only difference being
to exploit workers in other industries
for profits rather than clothing work
ers. This" Potofsky explained as
reported in the New Leader, sis done
for the purpose of sesregatIng the un.
ion from banking operations" EN-
phasls Mines. A. d. The bank
therefore, loses its supposed useful
ness to the union as tool in its
hands.
CtAN this situation be changed by
~ the left wing? The answer must
be an emphatic NO! First, because
labor banks loan money to small bust
ness men they will be hit first and
harder should a period of crisis de-
velop. The failure of the Consumers
Cooperative Bank of Philadelphia,
resulting in loss of several hundreds
Of thousands of dollars to labor I'M
ions shows this. Then unless labor
banks can make profits they cannot
compete on equal terms with the boss
banks. A strike is a risky invest
ment, and no labor bank dare invest
in strikes. AS a matter of fact the
men who solicit depositors for the
Locomotive Engineers Bank promise
to their prospects, in the name Of
the bank, that there will be no aid
extended to striking workers and they
thereby guarantee the soundness OF
the institution.
MO bank can exist on six or eight
~ per cent interest on it's capital
investment. The tremendous over
head alone that banks have, makes
this impossible. Banks must there
fore invest its capital in such indus
tries that exploit its workers most
intensely. This must also be true
of labor banks if they are to exist.
The Locomotive Engineers Bank has
been frank in its purpose. The most
disgusting thing yet heard was the
report of a Wall Street paper which
reported the introduction of President
Premier of the B. of L. E. as "a bank
err who was also labor leader" The
greatest enemy of the workers and
the most marked symbolic bank
er-is also now labor leader.
DROWDER, in his pamphlet called
II "Class Struggle VS.. Glass Cola
boratfon," reports an interesting case
of the Mount Vernon Savings Bank
created by the Machinists' Union in
Detroit. The policy of this bank is
so completely at war with even the
mildest conception of unionism that
during the presidential election while
tombstone, president of the union, was
the principle hacker of LaFollette,
the Mount Vernon Bank sent out a
circular ridiculing the LaFollette cam
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06

palgn and supporting Coolidge for
president 1t might be interesting for
Mr.. Fisher to read this book of BrowE
ders 1t would give him good in
sight into this most infamous class
collaboration scheme. ~.
T ABOR banks have thus far dem
IL oralized the workers as can be
seen by the loss in trade union
strength since this and other such
class collaboration schemes have been
invented 1t has confused the work
ers and turned their minds from the
struggle for better conditions. Warren
Stone of the B. of L. Els Bank tells
the workers to save their money
carefully and by this thriftiness they
will be able after while to live off
the INTEREST,"" Imagine this as sulur
ton for the American workers whose
average wage is about $40 per week.
MIR. FISHER also says that deposit
AV1 ing the funds of the labor move
ment in capitalist banks is giving the
bosses money with which to fight
the workers. An examination of the
facts will show first, that the boss
class in no sense whatever depends,
not even in the smallest way, upon
these funds. Nor does the withdrawal
of these funds seriously hinder them
in their struggle against us. From
the above facts, however, it is quite
clear that the establishment of labor
banks, not only confuses the workers
but gives its bureaucratic officials fat
salaried jobs and institutions which
have been SO organized as to make it
impossible for the labor unions to dis
lodge them.~ a....,.,.
lave labor banks come to stay?
IL When the working class of this
country begins to realize that entering
upon a stage of trade union capital
ism means the liquidation Of a milit-
ant struggle for better conditions, it
will turn to the left wing program
against labor banking and the other
class collaboration schemes. The left
wing clearly recognizes the menace
of this capitalist institution introduced
into the ranks of the workers which
has inherent in it detectives which are
in direct opposition to the interests of
the workers as whole. So long as
the efforts, of this country are turned
to capitalist enterprise rather than
working class struggle, there will be
a worsening of conditions. This how
ever, will not continue for long. The
militant struggle of the left wing will
eventually separate trade unions and
their legitimate functions from cap
italist enterprise.
We agree with Mr.. Fishers opposi-
ton to Insurance ventures, but sug-
gest much better explanation of
this evil in volumes two and nine of
the Little Red Library" series.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06

take on all the functions of the bank.
1t only makes small loans on homes,
etc. 1t does not make loans to man
ufacturers nor does it perform or
pretend to be the size and scope of a
bourgeois bank. 1t has only one paid
employee. 1t is really a cooperative
bank
DUT what does labor banking do
- that makes the worker lose sight
of the struggle with the boss? Hill
man, in his speech before the Acad-
envy of Political Science says, Labor
seeks to assume responsibility for
management" This really shows la
Dor banking as part Of the whole
scheme of class collaboration 1t might
be interesting to note that while the
Amalgamated Union of which Hillman
is president lost more than half of its
strength as a labor union, at the same
time its bank Increased its size CON
siderably. ttf
The only way that any bank can
earn money is by investing 1t in in
dustry or farming and make profit
thereby. This investment may take
the form of loans robustness men or
the exploitation of land and real es-
tates; but the result is always the
same, that is, the exploitation OF
workers in an industry for profit.
The labor banks therefore become
exploiters and in order to accomplish
their work of exploitation most sue
cessfully must fight organized labor
for the reduction Of wages and the in
crease of hours.
THIS is not mere theory. Labor
L banking is only about FIVE years
old and already we have had many ex-
amples of this. Who does not re-
member how the Locomotive Engi-
neer's Bank invested In open shop
coal mines in West Virginia and then
got into a struggle against the Unit
ed Mine Workers of America when
this latter union tried to organize the
workers, in these mines?
This same bank has invested in the
Mexican Great Northern Railway, an
imperialist venture, and has thereby
become interested in having America
exploit Mexico and establish a strong
military force to "protect" its invest
ments in case the Mexican workers
ever take the industries to them
selves. This scheme ties UP the in.
terests of these labor banks with the
interests of Wall Street, it's most bit.
ter enemy.
TINE bank that tries TO stick closest
4 to the interests of the labor
movement in its work is the Amalga-
mated Bank But even this bank is
an exploiter of labor. lPotofsky, its
vice-president, in an address before
the League for Industrial Democracy
during July admits that the Amalga-
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
LETTERSrFROM OUR READERS

THE united front committee was
stoppedfby the police from speak
ing on street corners. There are so
many organizations that speak every
night in the open air and they are
never stopped. Why the discrimina-
ton againstfthe united front commit
.teeq ti5a o
1 used to come to every meeting.
never missed one before the police
stopped them. and 1 never heard the
speakers speak about anything but the
Passaic strike, and our conditions in
Lawrence, They always told us to or
ganize into union. And what they
said about our bad conditions was all
true. know. l worked in every mill
in Lawrence for the past 25 years.
l guess that's why the police stop
ped the meetings. They do the work
of the bosses. We, the workers, should
demand the right of the united front
committee to speak. Why are the
police afraid to let them speak? II
conditions are good, then all their
talk will go to waste. It's because
what they say about our conditions
are true that the police stopped the
meetings The bosses don't want us
to hear the truth about the way We
are exploited by the mill owners. Be
cause when the workers do find out
they, will organize, and get better con-
ditions and better life.
An old time Lawrence Unionist,
Lawrence, Mass.
Editor, The DAILY WORKER:-All
of us have seen that the government
does not intend to give the farmers
any financial relief so | appeal thru
The DAILY WORKER that we farm
ers be given the same terms in settle
ment of our federal land bank loans
as the government gave the foreign
nations in settlement of their loans.
Immediate cancellation of 1870 of all
federal land bank loans on farm pro
perty and a reduction in the interest
rate to the same level as was given
those foreign goverpments-about ~
per cent and a moratorium for years
on remaining part on our debts.
This will give quick and temporary
relief to us farmers from our oppres-
sors. Give us lift at once.
An Illinois Farmer.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06

NOTE: This Is in answer to
Labor Banking and Insurance" by
Sam Fisher. Brookwood student
which appeared in The DAILY
WORKER on July 9th.
BY s. A. DARCY.
MIR. FISHER bases his case for la
4'1 Dor banking on four main argu-
ments These are as follows:
1. Labor banking is only bad be
cause bureauorats control the
banks. An honest left wing in con-
troll can use it to the workers ad-
vantage. 9r-r
2. 1t has a good psychological ef.
feet on the workers, |. e., it ere
ates business psychology. The
left wing can then easily urge the
workers to make the banks serve
Its interests.
8. Shall the labor movement de-
post funds In capitalist banks
which fight the labor movement
4. Labor banks have come to
stay-why not use them as best as
one can then?
THE answer to the first argument is
l. really the solution of the whole
problem. Is the left wing fighting la
Dor banking merely because the bu-
reaucrats control it or because the OBJ
ject of labor banking, as conceived in
this country, no matter who would
control it, is one that is detrimental
to the interests of the labor move
ment?
At the end of the world war, with
the onslaught of the BOSSES. trade un-
ion officials realized that they could
not continue using Gompers' pure
and simple" trade union tactics and
function we'll. They had two cours-
es open to them; either more mill
taDt fight so as to more effectively
rally the working class to greater
struggle or a surrender of trade I'M
ionism and an insuring Of their own
jobs thru other means-"business un-
ionism."
THIS. second course was adopted,
L and the result has been an awful
one for the whole working class. Ev-
cry enemy of the labor movement has
been using as a watchword, the
phrase that "The interests of capital
and labor are identical" This has
always been fought against by every
honest labor leader The workers al
ways aim to get as high wages for
as few hours as possible so as to en-
joy life better; while the bosses al
ways try to pay as little for as long
hours as possible so as to make great
err profits This is the inherent con-
tradiction in capitalism that makes
for the everyday conflict between the
two classes. The point about the Mu-
tual Savings Bank in Superior is in
correct. This organization does not
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
BY Our Inqulring Reporter.

BY Our lnquiring Reporter
IF Joseph Wise, self-styled represen-
L tative of the Tabor press of Amer
lea" had enuf sense to keep his mouth
shut his reputation for imbecility
would not reach far beyond the pur-
vieus of his office. But being weak in
the head, Joe is afflicted with a cor
ollary disease, a delusion of grandeur.
This fake labor representative is on
Len Smalrs payroll as factory inspec-
tor. Not content with defending the
benefciaries of Samuel insults slush
fund, Joseph, no doubt thinking he
was another David of biblical fame,
got the crazy notion into his head
that he was the man destined by his
tory to slay the Soviet Goliath. So
he put ball of petrified dung into his
sling and swung it around his head
several times in order to develop the
necessary impetus for a long shot.
But something went wrong and soon
Joseph was busy extracting bits Of
scrambled filth from his literary OPP
tics.
II happened this way.
Wise, whose immediate superior Is
Chester Wright, expert in floating
stock in imaginary oil wells, spon-
sored the clever observation that the
2S,000,000 roubles in the treasury Of
the Central Council of Russian Trade
Unions was only worth about $4.S5 in
American money. sa ss..e -..
The statement was injected into
the labor press thru the sewer pipe Of
the International Labor News Service.
In time a copy Of the Vermillion
County Star containing Joe's contri-
button to international buffoonery
reached G. Melnitchansky, secretary
Of the All-Union trade union council.
Comrade Melnitchansky, guessed
rightly. that Wise must be a clown,
nevertheless since This stupidities
reached many American workers the
Soviet leader thot it proper to cor
rect the misstatement. He sent a refu-
tation to the Vermillion County Star
which published II on the front page
without comment. This got Joe's
goat so he relieved himself of another
load Of nonsense.
Wise now qualities for first place
among clowns at the Sells-Floto cir
Gus, by outdoing his previous accom-
plishments. The rouble is not worth
$4.S5 he says. II is not worth a
plugged nickel. II is worth nothing.
He has this on good authority. The
wise reporter interviewed somebody
in Bughouse Square and was informed
that Soviet money is worth nothing,
even in Bughouse Square. Then the
bughouse Joseph went to another bank
and received confirmation OF what the
Bughouse Square expert assured him
to be fact. ~.
To take a fellow like Joseph Wise
seriously would be 10 confer honor on
turnkey Wise y better qualified
to fumigate the sldsh headquarters of
Samuel insult than to represent the
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
AN ENTHUSIASTIC WELCOME
FOR SENIOR PRIMO.

Barcelona, SpGin-Driuing to
the stctiot after tohat officially
,cGs, claimed to be an enthusiastic
'oeIcome, Gen. Primo de RiUerG,
Spdin's dictator, felt a missile
iiohiS past his left ear, and has
round, rudy face paled tohen he
turned and sac long dagger,
obviously intended to end his
career, sticking in the back of his
sedtLNeic$ item.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
Open Shoppers in
( St. Louis Politics

ST. LOUIS,-FP)--The Committee
for Good Candidates has been formed
in st. Louis by big business interests
to dominate the election of the Mis-
souri, legislature. In view of the drive
to pass a state police bill in the com.
ing legislature, labor men look upon
the new group as state police com
mittee In disguise. The state fedora
ton OF labor is meeting. the scheme
with a statewide campaign in behalf
Of thcse ressrdad sympathetic to
labor.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06

The tenth issue of Prolet.Tribune,
the Russian living newspaper Of the
worker correspondents of the Novy
Mir, will be out next Sunday, Aug. s,
al the picnic of the Russian, Polish
and Ukrainisn branches Of the Inter-
national Labor Defense. at Forest Pre-
serve, at the end Of Elston Ave.
Take any car "a Elston Ave. and 90
to the end Of the line. A committee
will meet you there
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
Engineers Join Union.

NEW YoRK-(FP)-Two hundred
and fifty engineers employed by New
York city voted to affiliate with local
81 union of technical men. They state
that they will take referendum vote
among the 1000 other technical men
working for city departments.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
CURRENT EVENTS
BY T. J. o'Flaherty.

Continued from page u g.
as was done in the case of Irak. No,
France has too many airplanes and
cannon for that kind of stuff to work
In all probability Benito Mussolini will
have to look somewhere else for ter
ritory to receive his surplus popula-
ton unless he is able to give the
French some compensation for their
good will, compensation taken from
some people with fewer guns and air
planes.
T ADY NANCY AsToR, NJ. p, must
II be given credit for selecting a
capable press agent. The lady is re-
turning to her native land for visit
The press agent circulated report
that. the name Of the ship On which
Nancy was sailing was known only to
himself and a few others who entered
into a dark conspiracy to keep the
identity of the ship dusky secret.
Then the ubiquitous Hearst reporter
got on the job and learned that Nancy
was on a ship bound for Boston. With
that clue even a detective could run
down the arlstocratic visitor. The
result of all the fuss is that we have
learned from Nancy the important
fact that "the girls of today are free
from tosh." We shall not paint the
lily by commenting on this profound
statement. ,.... ....
KING ALBERT of Belgium, a real
IL dictator by grace of the socialists,
is setting his subjects an example in
frugality Black bread is now ex-
clusively served at the royal table
and none of his majesty's three motor
cars are allowed to be seen on the
streets. This is the kind of a king
that would make an American tourist
calculate: Isn't he cute!" Anyhow,
let's hope the rest of the Belgians
will follow their kings example and
keep their limousines off the high
ways.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
SUBSCRIBE TO THE DAILY WORKER!
He Should Qualify

me aco Fa'n and Labor Journal Texas tho
democrat nominee for governor considerable esteem His name
is Dan Moody.
Besides several other qualifications for the office the following
@ worthy note Moody is member Of baptist church.
Vsecond degree Mason, Knight Tempa Skinner an Odd
INV" might OF Pythas WoOdman incidentally mem.
Der 81 The Electrical Workers Union.
WI" all these things in hs favor Mr. Moody should be even
servant OF the Texas ruling classes than Nf,o Fer
VINO was returned to her jamcrocs by recent primaries
NO doubt the labor bueaucrats Count oodys election an
other scalp in labors wigwam e'e''i0" an
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
A House Rule, Perhaps.

Names may not mean anything,
but it seems peculiar that the sup
stairs maid" in the house of the
Reverend Hall, tohOse goings on
a0itb his pGrlOf maid and toith his
choir singer ended under a crab
apple tree, toGS named Barbara
Touch. - --.-.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
WHO WANTS TO WALK WITH
---.A nOG2

my skin was in poor condition and
was generally run down. For days
never left the house. began eating
Blanks yeast. The yeast not only clear
ed my complexion but changed me from
weak house flower to strong woman.
Now every day | walk five miles with my
dop."-From an adv
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
Rickert and God.


The union label is religious
emblem; it is religious act to
buy goods to which this label is
attached, and an act blessed on
earth and hOnored in heaven. God
bless the LABEL And I hope that
all of you who read this, will car
ry indelibly impressed upon your
mind, the picture of the union la
bel surrounded by angels.-From
literature of the United Garment
Workers.
-
No wonder the contract Is saeredi
Gompers, Green, Riekert and god, with
chorus Of angels singing:
Holy, holy, holy, little union label,
Sold for fifty cents q gross
Whoever soants to bug.
Holy, holy, holy, aohoeUer helps a
union boss
And helps him make his profits
Goes to heaven tOhen he dies.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1926-08-06
Il Can't Be Done; Ask Taft.

49, = ~ non . dix
New York.-As passed my own
talIor's shop this morning noticed
a sign on the door, "cIosed on 40
count Of the strike" said Magistrate
George w. Simpson in the west slds
court. mo union or other ornanIxa.
tlon has the legal right to threaten
or in any way close the shops OF
others. A man may operate his place
OF business as he sees fit. No other
can cross his Threshold without
specific legal order. They should
read Chief Justice Taft's opinion
about mans right In his place Of
business"
"Thsy don't care about Chief Jus
tice Taft" said Assistant District
Attorney Charles White. "They're
all forelsners."-News item.
The Washington times., 1926-04-03
WOMAN, Shot,
NAMES Man.

The police are searching for col.
ored man who is said to have. shot
ana probably. fatally injured Ruth
Rustin, colored. u Dye st; n. w. in
hers home last night
The man is said to be dining car
walter who had been in the habit Of
visiting the woman. Last night they
had an argument, she says, and he
shot her through the side. She IL In
Emergency Hospital. where she was
removed, in d taxicab.
Shot in the jaw, while in his homo
at 1921 Twenty ninth St. ~. W., How.
ard Jones. colored, 10 years old, is
said by the police to have exoneratetl
Walter Ashby, colpred, 20 years old.
stating that .Ashby shot him acct
dentally.
Both youths claim that theysWere
playing with the pistol when it was
discharged accidentally. Jones re-
ceiyed a fractured jaw. Asl1by was
arrested by Detectives Sweeney and
O'Brien.
The Washington times., 1926-04-03
COUNCIL EIGHT
To BE WARM /

- q 4 Sfi.rYsy q
), ',V0telesG M asiingtoh 4 Isl gong
to the polls tonight.
Delegates to the Federation Of
Citizens Associations. representing
every community of the District of
Columbia. will elect six members
of the Citizens Advisory Council
from a field Of IL candidates.
Though the day dawned bright
and clear. there is every indication
that forbidding clouds will gather
over the District Building after s
p. M, when the kicking OF the hats
from the ring becomes an actually.
Included in the list of ''Dossibles"
are four of the present council.
w. !. SWanton, George c. Havenner,
Harry n. Stull and George. r.
Wales. William S. Torbert and
Charles A. Baker declined to accept
denomination.
Excepting an unforeseen catastro.
phe, those with an ear to the ground
prOphesy the reelection of the four
incumbents who are candidates and
predict a. bitter campaign for the
remaining posts. III.
Succeeding himself, Jesse e. Safer,
president of the federation, re.
mains chairman Of the council. He
will be in the chair tonight as ds-
rector OF the election
Robert Stroebel, Frank H., Peck.
ham, Proctor l.. Dougherty, James
G. Yaden, Mrs. Frank Hiram Sroll
Henry Morton, William q. Hender.
son, Robert f. ManciII, Mrs. Harvey
w. Wiley, DR. d. N. Shoemaker
Ernest NJ. Pullman, r. M. Cannon
Fred 8. Walker. and Henry Morton
Phillips all claim they have an
excellent chance, but Dougherty and
Mrs. Smell are Watching the ap
proach of election time with in
| creasing confidence.
With the reelection last night oi
George Beason and DIR. George III
Richardson by the Federation OF
Civic Associations and the two posts
OH the council allotted the colored
| organizations were filled.
On the first ballot Richardson got
81 out of the possible Sc votes; Bea
son, 81: w. I'll. Lewis, jr., %, white
Capt Howard ID. Queen and Etzie
s. Hoffman withdrew