The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-12-26

but which very recently being
unprecedented speeds first and foremost responsible for the delay
ing of the industrial crisis South
which amounts to the creation of Ruhr America
sufficiently evaated by those analyses which predicted the early
coming of the crisis The ndustrzaon the South worked
the following three ways:
1t export of capital from the
northern capitalist centers of the United States
g. 1t opened up 100000 popula-
ton for manufactured
g. Based cheap labor and power, modern
industry has been established in the South which has
increased the competitive capacity of the United
world market
The first period of the nduraizaton
the character of developing light industry
textile The prent second period is of different character Its
main feature the building of heavy ndusrescoa OIL potash
electrical power machinery especially heavy transmission machinery
Inc significance OF the industrial revolution in the South can be
South taken into consideration Before the industrial
luton the Solid Negro share-croppers haudal
hafsave conditions big plantation political system
bearing eamks of the period of slavyconstuted virtually
colony within the BODY of the United states of America arg
sections which by revolution still
have in respects colonial status despite the that
worldly
of of
based coal and The industrial revolution the South
is based and electricity The industraaon of the
northeast the form building individual and
crystalline the The industrial revolution in the
South starts with the building of whole factory mill vii
lagos, and industrial cities.
Gored the workers with all the sophistca.
the methods exploitation
exemption for the the situation the industrazd
South Cities advertising, offer industries ampe American
1925 emphasized proudly:
is mighty bulwark defense of the American shop
rey American Englshspekng The division of native
born and foregnbo labor replaced in the South by division be-
white workers The capitalists doing everything
to intensity predes against the Negroes the minds of the white
workers The proetariat of the South receives the lowest
works the nsaved every respect
venon of the American Federation of Labor held New Orleans
started fake oganizaona drive embrace the workers of the
South The labor bureaucracy will seriously tackle the question
of the organization of the South which of the biggest prob
the American working The
working the ndustrazaton the southf shifting
of the center of the coal and textile production the South the
breakdown Of union conditions in the older central coal fields and
the endless series of for the textile workers New Eng
cation of the South the proeariat
Southern section the country will strengthen immensely the
of the American working class and will play decisive role in
overthrow of American capitalism.
exploitation second cause
of the delaying of the crisis has been the exploitation
by the United States Recent developments have
shown opening countries
which becoming increasingly parts
The direct effect of this the economic conditions of the United
1. Possibilities for unprecedented increase of
Rapid growth OF export commodities.
The growth of the export trade to the Latin countries
United goods
in much larger degree than the United States
by the following two features:
State other flows production
to cover expenses of ornaments armies.
establish manufacturing
opening up minerals OIL etc.
words does not create competing manufacturing industry Quite
the contrary the the of United States
featured commodities.
g. Increased foreign Europe The present relative
sterilization of Europe has been achieved by American capital and
maintained by further American capital export Sterilization of
$500000 gold The reeabhment the gold basis European
cuences the possibilities purchasing manufactured
modtes of the United States by the European countries
These three factors been mainly responsible for the
longatn of the industrial prosperity the liquidation of
the 1927 depression the delaying the crisis These factors
possible the opening markets keep with
increased the tremendous growth of the forces
production the the productive capacity of
American industries the intensive naturalization and speedur and
the continual introduction of improved labosaVng machin ID
other devices of mass production
The opening the South market and place for
the growth of the LanAmerican market the
possibilities increased Europe show that American
capitalism exhausted all its that it has been
temporarily the shkage of the home market
extensively hold world market The
been delayed but it has not been prevented
The prosperity itself creates the factors which will
cptate the crisis: the wild stock exchange speculation which
reaching climax the Hoover BOOM; the wide
credit the ck industries like coal and textile which already suffer
growth the extension of nsament buying, which
will make the crisis when deeper and general the
industaizaion of the South which, with powerful growth Of
forces of production will be of the most effective competing
the dpropoon between production which
part the general anarchy of the general dsprooron of the
branches capitalist productions the between industry
and agriculture which is still wide and getting wider despite the
technical agriculture; consumption limitations of the
tong farmers and workers; the increased competition of foreign
powers every world marketa
together contract the market for American imperialism and
bring about the next crisis
STRUCTURAL CHANGES IN AMERICAN ECONOMY
Deepgong structural changes taking place the capitalist