The daily worker., 1929-01-14

nee, whose purpose will be to
pile new burdens on the inter-
national working class in order
that the war epar tionS
claimed by the Allied capital
lists as result of the last war may
be wrung from them. The funds to
be derived are in turn claimed by
United States capitalists as war
debts due the Wall Street bankers.
Approached by representatives of
the press last night, Morgan, as is
his usual practice, refused to make
any statement. The announcement
that he will participate in the con-
ference has been shrouded in mys-
terry and was held a close secret
until the last moment although Nor
gan had obviously decided upon the
move before Owen D. Young's re-
cent conference here with President
Coolidge and Secretary of State
Kellogg.
So close a secret was the identity
of "the second American repara-
tions expertss, kept that Morgan's-s
name was not once mentioned even
in financial circles as a candidate
1t is expected that President
Coolidge, for six years Wall Streets
flexible, faithful servant in the
White House will make official an
nouncement of this final service to
American capitalism tomorrow.
With Morgan at the reparations
meet will go Owen d. Young, rep
arations expert and former agent
general for reparations payments,
and chairman of the General Elec-
trio Company, a Morgan interest,
and Thomas Nelson Perkins, another
lawyer and capitalist subservient to
the same interests in their Boston
offices.
Morgan's open appearance as the
dictator of world finance at a con-
ference, in reality representing the
United States government which
has repeatedly refused to be Off
cially represented, shows the un-
qualified role which American fl
nance-capital plays in determining
the world policies, with the United
States government as its political
instrument under absolute control.
The alleged reason for Morgan's
attending the conference is to super
intend and lend confidence to the
flotation of S2,000,000,O0O bond
issue which will be made through
his firm and the proceeds of which
will be used to reimburse the Allied
and American capitalism to the
amount of the bill lodged against
the German capitalism for its part
in the damages committed during
the last war.
The entire resourcesso of the great
est single capitalist money trust in
the world will be modified to float
the issue, at least $500,O0O,oO0 will
be marketed in the United States.
With an eye to business, Morgan
calculates that his presence at the
conference will result in higher
prices for German bonds already
handled through his firm in this and
other countries.
At the same time thru his pup
pets, Coolidge and Hoover, Morgan
is making it clear that his participa-
ton in the reparations conference
has nothing to do with relaxing the
pressure on European governments
to compel payment of the war debts
claimed by the United States.
Morgan permits his foreign tools,
the foreign governments who parti-
clpate in the reparations conference,
and who are bound to him with the
chains of heavy debts, to select HIM
self and his two colleagues. The
choice of the American delegates is
not Officially" made by the United
States government, whose hands are
thus formally freed from any
European entanglements," but b
the representatives of the confess
ence powers.