The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1927-04-08
Rv 7. LoAF.

] L
/ w marines depart for China an
other war phenomenon has appeared
in our finance-ridden community: the
"war babies. 1t will be remembered
that this was the name for the stocks
of companies that dealt in various
war materials and were the direct
beneficiaries of the bloody business.
The rise in the stock value of the
Bethlehem Steel Company and other
war contractors on the declaration
of war is still in the memory of Wall
Street spectators who are just
yearning for a repetition of that
feast.
The recent rise in the value of the
Bethlehem stock is a proof that these
spectators do expect an enlarged
demand for arms and ammunition,
mainly for the Operations" of the
American marines in China.
The fact that the American invest
ments in China form only fraction
Of the British and that the total
amount is comparatively small is be-
ing used as camouflage for Amer
lean Observation-Disclosures" with regard
to China.
According to the estimates of the
Commerce Department, American
business interests have approximately
S70,000,000 invested in China, while
approximately the same amount has
been put by the same interests in
educating" the Chinese to the bless
ings of capitalist civilization, by
means of missionary and philan-
thropic enterprises.
But we need only to glance at the
names of the American concerns that
are interested" in China and at the
amounts invested to see that the in
vestment affair is not as simple as
it is presented.
It was the "SOCONY," the Stand
ard Oil Company of New York, whose
name became most prominent in the
bloody attack of foreign aggressors
against China. Then it is the $50
CONY" that has the largest single
investment in China that probably
equals the total Of all the other Amer
lean business concerns; its one sub
sidiary corporation, the Standard
Transportation Company, has a capt.
tai of over 100000; it is not the
only subsidiary that is operating in
China, not speaking of the fact that
also other Standard Oil Companies or
5heir branches such as the Vacuum
Oil Company, the Texas Company etc.
are doing business there. But tn ,
"SOCONY" is doing incomparably
more and, to facilitate the marketing
of its products that are sold all over
China it has invested much capital in
warehouses, dockage facilities and SO
on.
As kerosene and petroleum are Che
principal commodities that are nec-
essary in peace time and still more in
wa time, particularly in the case Of
China whose armies because of lack
of railroad transportation, must de-
pend much more on motor equipment,
the interest" CT "SOCONY" in the
happenings and their outcome in
China cannot conceivably be small.
Who knows the history of the
Standard Oil, abroad as well as home,
must know that it will "hold on"
However, it is not only the actual
investments but to great extent also
the foreign trade possibilities that en-
ter into the "Chinese Problem" as far
as the United States is concerned.
1t is not our aim now to point out
the necessity of an enlarging foreign
trade for the capitalist economy OF
the United States. We shall speak
some other time about the growing
productive capacity of the country
that Takes imperative an ever en-.
larging foreign outlet. AS far as
China is concerned, the total OF
American exports amounted in 1926
to $110,205,014 and showed even ar
increase as compared with 1925.
AAS SlSdO AlAlPOIIdilCe dLJ9CnG0 IT
this country to the Chinese trade car
be seen from the fat of introducing
the China Trade Act" that exempts
American trade companies in China
from taxes on income earned in
China. American chambers of Com.
merce" have been created in severa,
Chinese trade centers, as in Shang.
hal, Picking, Hangkow, Tientsin anc
Hardin. In word, preparation:
have been made to capture Chinese
trade and to install American capita
there for good.
So it is the potential trade that
primarily is being jeopardized now
by the recent developments. AS ex.
pressed by one capitalist, the signifi-
canoe of the onward SWEEP Of the
| Nationalist armies is that
foreign markets for all nations will
become more competitive and that
competition will become more ruinous,