The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-05-26

bankers and manufacturers IN FnL-
adelphia: Eve hold a great treasure
which must be protected" In the name
rof the working class and the exploited
farmers of this country the WORK
ERS (Communist) PARTY raises the
question: Who owns the great treas
ure,' in whose interests must it be
protected, and who bears the burden
of its protection? And our answer
is: The great treasure is owned by
handful of powerful bankers, man
ufacturers, and railroad magnates.
The only share of it the workers and
working farmers receive is eXploita-
ton and poverty, and all the burden
of defense of the great treasure Of
American Imperialism rests on the
shoulders of the industrial and agri-
cultural workers.
America is today the most power
full country in the world. Americas
wealth, the great treasure" mounts
up to 400 billion dollars. Half OF
the gold of the world is now in the
possession Of the United States. With
but seven per cent of the worlds
total population America controls the
bulk of the worlds resources, "A per
cent of the worlds coal, TO per cent
of the oil produced, 81 out of every
100 tons of steel, 60 per cent of the
cotton and corn and half Of the
worlds railways, copper and pig iron.
A gigantic accumulation and con-
centration of capital is going on. The
total amount of bank deposits is now
over Sc billion dollars. These are
over 1000 factories in America en-
blowing more than 1000 workers each,
with a total of about 212 million
workers. Of all wage-earners IN man
ufacturing over Sc per cent work in
those 10000 factories each of which
turn out annually products to the
amount of a million dollars or over.
classification is asserting itself
with irresistible power. Consultations
of railways, big combines and mer-
gers in all industries are the order
Of the day. The United States Steel
Corporation has capital of IA bill
lion dollars. A food trust is at
tempting to put billion dollars into
one powerful corporation. The recent
consolidation of the Brooklyn Edison
Company and the Consolidated Gas
Company of New York resulted in a
merger of over one billion dollars.
Five powerful companies control al
most half of the whole national out
put of water power, and eleven groups
control 80 per cent. Eight companies
control three-fourths of the anthra-
cite coal. Two companies exercise
control over half of the copper re-
sources of the country.
A process of Capitalization similar
to that in production is going on in
the field of distribution. There are
today 1898 chain store organizations
controlling 101 ,536 retail outlets in
thirty merchandise fields. These.
chains realized in 1927 a volume Of
business estimated at almost six bill
lion dollars or 16 per cent of the
total retail business of the country.
The antitrust laws function today not
as instruments Of ''trust-busting" but
as a means of classification.
The United States is the leading
country in respect to capitalist ra-
tionalizatiOn. The productive power
of American industries has increased
tremendously. In a decade produc-
tivity per employee in American man
afacturing has increased 80 per cent,
cost Of management has decreased L
per cent, but wages per unit of pro-
duction have increased only per
cent acknowledgment Of industrial
productive capacity is one of the
basic features of American Imperial
ism.
Finance capital is almighty today.
Banks and industries are merged. The
climax of this development was
marked by the fact that J. p Nor
gan, head of American finance capt.
tai, became the head CT the United
States Steel Corporation, the coun-
try's biggest industrial company.
Hand in hand with the classification
of industry goes the justification of
State power. The Government of the
United States is today an administra-
4 blOH VI IlilcilSG SpAbt+A- lAC AhClAtAby
of the dominating personnel in fin
ance capital and government admin
istration is complete. Finance capt.
tai sends it's direct representatives to
the Cabinet as well as ambassadors
to foreign countries.
classification, high tariff, monop-
oily, merger of trusts and State pow
err, growing export of capitalists
is the picture of American Imperial
ism today.
The sterilization of European in
dustries, and the decline of British
imperialism have increased competi-
ton on a world scale. The United
States Imperialism is in a growing
measure dependent on the world mar
ket, and it struggles for world hege-
mony in every corner of the world
from Latin America to China. 1t is