The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1927-10-21

The present volume Of industrial goods,
while surprising the 1913 output in money. is
of different character It comprises more
machinery, more necessities fewer comforts
and luxuries than the pre-war total More
ever, the quality of these goods, generally
speaking while markedly better than for any
year since the revolution, is still decidedly be-
low the 1913 level.
The present output is primarily addressed
to building of new industrial plants. includ-
ing transportation facilities, new housing for
the workers, food products and plain necessi-
ties for the workers and peasants. As a re-
suit, the urban workers are undoubtedly bet
ter off than in 1918 the peasants are not quite
so well off, in respect to the amount of in
dustrial goods which they receive, while the
plant in the form Of new capital out
lays IS growing at an unprecedented rate.
About the beginning of 1925 the new capital
put into industry began to exceed the annual
rate of depreciation, and to show a net in
crease IN the value of the nations fixed assets.
Meanwhile the amount Of new capital and
its division between the various industries is
decided by what is probably the most in
teresting technical body now functioning in
the world, the Caspian Government Planning
Commission). The guiding principle of this
board of industrial strategy is to build up
those industries-such as coal, iron. water
power, machine making-upon which the 9th
er industries depend financing this Develop
ment, so far as may be, from the surplus earn
ing Of the more profitable industries. such as
oil, textiles, rubber In this way balanced
national economy can be achieved, overexten-
sion IN certain lines prevented, the business
cycle eliminated, with an enormous saving of
waste and loss. Only time can meas
ure the final success of the caspian in this
stupendous undertaking, but it's tangible eff
feet on industry already is far-reaching, and
as far as we could learn, effective
According to the very latest estimates pub
lished September TO- 1920 total production
for the current fiscal year. ending October /,
1927, will exceed that of the previous year by
about Is per cent. On the caspian basis sub
the same increase is planned for the
coming fiscal year.
On the whole then, the economic structure
is functioning as well as one might dare to
expect, considering the utter chaos from which
1t started. Poverty is far from eliminated
unemployment is very serious problem, new
capital, credit, housing an adequate supply
of needed imports power Developments
all pressing and urgent challenges to the pres
ent economic administration But at least
normal level has been reached and each year
shows gain
At the present tempo, failing foreign wars
and "Acts of God, the caspian five-year pro-
gram calls for 70 per cent increase in indus
trial production and 80 per cent increase in
agriculture by 1881. That there is more
than fighting chance to realize such increases
is evidenced by the close correlation of the
actual figures to the plans, as achieved in the
first year of its operation.
If they are realized, delegation visiting
Russia five years hence may perhaps forget
the East, and begin to apply some American
standards in its judgment of Russian eco
Ito be continued tomorrow