The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1927-07-06
WILL PLUMBER The
FED'L TREASURY
TO SAVE CALVIN
Greatest Vote Buying
Plan Predicted
BY HARVEY O'CoNNoR.

WASHINGTON, (FP).-More dan
gerous than the challenge of All
Smiths Democratic candidacy to Cal
win Coolidge's chances for third term
in the White House is the threatening
economic depression.
The intimate circle of high Republi-
can officials ard politicians whose
fortunes are bound up in Coolidge's
bid for reelection look with more or
less tolerance upon the New York
governor. whose candidacy they be-
lieve will tear the Democratic party
to pieces on the religious and liquor
questions. But a bad slump in in
dustrial production in 1928 coupled
with the possibility that the Demo-
Gratis might choose standard bearer
like Owen D. Young, head of Gen
eral Electric, would not only imperil
Coolidge's chances for denomination
but might defeat Herbert Hoover or
any other candidate the Republican
convention next summer might select
Billions For Votes.
But the problem of an industrial
depression with millions unemployed
and business in the doldrums has not
completely flabbergasted the steerers
of the Republican craft. Instead
every indication points to the GER
tainty that they have solution ready
made to stave it off. That is the
accumulation of tremendous re-
serve in Melons treasury vaults
which they will throw into various
public works the moment the danger
ously inflated credit situation shows
signs of deflation.
Gigantic Corruption Plan.
Big business sees the possibilities
in throwing federal millions billions
if need be-into the breach to stimu-
late industry when the crisis arrives.
That explains the favorable talk be-
ginning to run through the Wall
Street press in favor of dumping
cool billion into the Nicaragua canal
another billion into the st, Lawrence
to-the-sea waterway, S4O0,000,000 for
Mississippi flood control. In fact
Wall Street sees clearly that the
Mellon-Big Business tax-shifting pol
icy, which has resulted in throwing
$15,000,000 year in surplus values
wrung from labor's toll on the mar
ket for investment, is in danger of
capsizing the ship of industry.
The Presidents financial advisers
have warned him that too much Of
the nations wealth is going into the
hands of the few, who are dumping
it into capital expenditures both here
and abroad, increasing dangerously
the productive capacity of the ma
tional and world industrial plant and
leading with certainty to tremen-
dous crisis of production or un-
der-consumption.
Borah For Coolidge.
Senator Borah, who has come out
for Coolidge for a third term, backs
up the new administration policy by
calling for government development
of the Great Lakes-to-Atlantic water
way and Harvesting of the Colorado
and Mississippi. Secretary Hoover is
also a warm advocate of the public
works in depression theory.
Administration supporters, boast
ing now of the S6O0,000,000 surplus
from the fiscal year just ended, are
warning business not to expect big
tax reductions. Instead there is some
talk of the possibility of a decline
in business activity, and more of ac-
cumulating hundreds of millions to
throw into the industrial breach if
and when depression comes. Militar-
lists take satisfaction out of the situa-
ton for they see an end of the econ
emy regime with millions poured into
naval shipyards, ornaments plants
and steel mills as part of the new
Coolidge program of stimulating
tagging industry by bountiful federal
expenditures.
A COP. Weapon.
Progressive economists and radi-
Gals who have advocated the public
works in depression policy long be-
fore Coolidge dreamed of the presi-
dency, may see a weapon devised to
protect workers against unemploy-
ment turned into an instrument to
prolong the political life Of the domi-
nant political party and assure an
other decade of business prosperity
for the spectators in national re-
sources and needs. Economy, Re-
publican political password of 1921
26, thus finds itself in the discard in
1927 with Numerically opposite
policy pursued to keep Coolidge firm
ly seated on the throne for the 1928
81 reign.
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Caorcb Enr Dad;as