The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-10-29
Wall Street Crash a Signal
of Coming Struggle
1t can't happen now in Amerca-but it did!


Only few hours after Herbert Hoover the Pope of American
had pledged his word that the fundamental business Of the
country sound and basis"-and after j. P
Morgan heads of the six biggest banking
heard Of before anywhere in the world to prevent
Exchange fell second crash the biggest that has ever occurred
the that attended the beginning of the world 1914
Thursday all the forces at the
of the kings Of American finance brought to bear pre-
vent this second crash of Monday The money pool OF the SIX biggest
the United States entered the market with fund of
million their disposal and bought huge blocks of stock for
the holding the price and yet the prices 1e IN
after avalanche about their Thursdays catastrophe fan IN the
unknown thousands of relatively small SPECTATORS and about five
millions of dollars of values The best stocks in the world
thrown the market as frank speculations
the time in five days the gods of American finance
the effort control the forces of the business universe
which they rule.
Hoover and the heads of the big combines making public
of regard their words
with facts with the psychological
necessities In other words the of the heads of the
olgarchy headquarters Washington and New
York. false checks intended the little fellows from trying
all themselves and thus driving the market down still
further
that this collapse the stock market
temor the oncoming earthquake Of economic crisis
rs sterilization American capitalism becoming
is becoming and preaarious shay and deyed This
question which has been issue for months between the
concealed defenders of capitalist class eogy the
side and the pckesmen the revolutionary Communist movement
given first at the Congress year
again. with the added force of ateraccumuaed proof at the
Tenth Pnum the Executive Committee of the Communist Inter
national last July:
The of the estimation made by the Sixth Con-
of the third period of postwar capitalism being
obviously demonstrated period of the increasing
the of capitalism and of the accelerated
andin
dicoas of imperialism, leading inevitably mpeaist
class conflicts, of development of upward
the revolutionary the principal capitalist
countries. great an-imperialst revolutions colonial
countries
the Central Committee of the Commu
held the first of
this month York again pointed out clearly that:
of of period post
capitalism revealed the analysis of the Sixth Con-
of the Communist International manfeing them
sharply than elsewherein the
present in United States The rapidty
productive the United States becomes
itself powerful factor for the ntensifcaton and acceeahon
of the general crisis of capitalism
One explanation by banker underlying
of receedng that this has
collapse of the Stock Exchanges
different distributed the public
Capitalism control the of which
necapabe system capitalist production The
Hoover of the oademocrac defender of the capital
Hfeng which also attracts all opporunis
contradictions
the problems internal marketths dream d
pated by grim reality.
working should give
attention the light the of the capitalist
market Panic and business recession with still unemployment
said Penum
the Central Committee of the Communist Party:
"Th coming of will Immediately
contradictions inherent American capitalism will lead
ternaonay accenuaton of the general crisis OF world
capitalism autey the intensity the class
struggle
The efforts the crisis throwing the
burden the shoulders working class
employment breaking living andard) will speed
the rehabilitation of the working lead perspective
of big class bales.'
>--,A- u..>~,.-.> at $3.50 D. m.