The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-08-16

IL IS quite clear that American
Imperialism, as an economic neces-
sity, in order to protect its invest
ments in Germany, must strive to
aid that country find market for
its industrial products. This aside
from all other considerations.
The Young Plan, engineered by
Morgan and Lamont, is an attempt
to achieve two major political aims:
Ito align Germany definitely
in an anti-Soviet bloc by making its
national bourgeoisie still more de-
pendent upon the other imperialist
powers.
2.-To swing that country into the
orbit of American imperialist in
fluence against Britain.
The mechanics of the Young Plan
are not as complicated as the i'm
perialists and their social democratic
hirelings would have US believe. At
one stroke it cuts off $3,000,000,000
from the payments that were to be
made under the Dawes plan. 1t
establishes an international bank
through which Germany will pay
directly to the United States gov
eminent two-thirds of the remain
ing annuities over period of fifty
eight years. These payments cover
the debts owing the United States
from the allied nations.
The remaining one-third is to be
divided among the former allies who
fought against Germany in the world
war. 1t is this one-third of the
total over which, apparently, Snow
den is fighting with Germany,
France, Italy and Belgium. But
there is much more involved than
the division of the surplus that is
to be extracted from the German
working class, as we shall presently
see.
The effects of the Young Plan
settlement, if consummated, will be
as follows:
1.-The tightening of the burden
of the war debts enables Germany
to contract more private industrial
and state loans from Wall Street
bankers. 1t will not reduce the
total debt that Germany owes the
United States but only transfers and
increases it. The German bour-
geoisie, in order to meet the heavy
demands of the Wall Street bankers,
will further intensity the exploita-
ton of the German working class.
2.-It is an instrument of Ameri-
can economic domination of Europe,
inasmuch as the international bank
which is provided for in the Plan,
will be dominated by Wall Street
bankers, specifically the House of
Morgan. The international bank will
not only take care of the transfer
of two-thirds of German payments
to the United States, but will divide
the remaining one-third, according
to agreement, between the other
powers involved.
3.-The provision in the Young
Plan for deliveries in kind" is a
smashing blow against British in
dustrialists and bankers who DOM
mate the industries, inasmuch as il
furnishes Germany a guaranteed
market. For example, Italy for
merly purchased much of it's coal
from Britain. Under the terms OF
the Young pact the amount Of
PREPARATIONS going to Italy will be
paid in the form of coal and other
industrial products. This further
sharpens the coal crisis in Britain
AS far as chemicals are concerned
millions of dollars worth of pro-
ducts of this industry will go to
other countries as payments in kind
THESE are only the most obvious
of the effects of putting into
operation the Your Plan, but they
clearly reveal the difficult position
in which it places England, and ex-
plains why Snowden, as the spokes-
man of British imperialism sets his
face like flint against it.