The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1929-08-16

rate Is raised, Immediately a pen
aity is placed on industry and man.
u1actur, as the small scale Ameri-
can producers have found to their
cost: But the effect on the less
pro1ltable and more poorly equip
pea industry of Great Britain has
Deen lar more disastrous. For Eng
land, In order to insure her gold
supply, has had to follow suit by
raising her own Bank of England |
rate. The battle has been as futile |
as II is disastrous-for Great Brit |
ain and for the producers of all
lands who have been ground un-
ger the heel of American gold.
With this background, see how
easy it is to understand the mean
ing of recent events:
THE INTERNATIONAL
BANK
America joined with the Euro
pean powers in an effort FINALLY
to liquidate the world war" The
Young Preparations Plan was the
result. The International Bank was
one OF the main instruments. The
program has been hailed as the
herald of new era of world peace
and prosperity-that is, it was so
hailed, month ago. But what is it
actually?
The International Bank has two
main purposes: % 1t is to serve
as a sort of stabilizer of interna-
tional capitalism; Witness, one of
its main provisions to lend and di-
rect funds to temporarily shaky
nations. (2) II is to maintain the
domination by the United States of
world economics and world finance.
For with one hand, the Interna-
\ tional Bank is to receive repara-
: tons payments from Germany and
with the other the bank is to pay
out for the account of the allied
: debtor countries a similar sum to
the United States. If the Young
plan is made permanent, tiian the
hope of the European countries to
secure a cancellation of their debts
: to the United States becomes vast
: ly more remote. The international
I Bank is the instrument by which
i their financial slavery to the Unit.
: ed States is disguised. This is the
basis for the revolt now beine
staged by Philip Snowden, British
Chancellor of the Exchequer a
y gainst the acceptance of the Young
W Plan. 1t is move not for the few
is millions of dollars involved in thu
ID issue which he has raised. In tht
n course of the bargaining at tn
n recent Paris conference, billion
,r were compromised almost with tn
al wave of hand. The aim of Grea
re Britain is to open up the whole is
Of scue of inter-allied Indebtedness {
ys the United States; England hope
E. to secure a cancellation of her oh
ig legations, to effect a reduction c
e. her burden of crushing taxation ?
ey home and thus to compete bette
fl with her great economic rival fc
a the world market.
" WHY DID
SIS ENGLAND AGREE?
ne In the light of this fact, it migl
ay be asked, why did Great Britai
SO only a month ago agree to tt
ed Young plan? The answer is tw
fold: (1) She was forced to do S
The logic of events gave her !
alternative just as now (and mo-
as- definitely in the future) the log
res of events will force her to reb
ed against the conditions imposed. {.
as But the real reson is that a mon
W. ago Great Britain still had hop
A. of winning a victory at the mu
est discussed naval disarmament pa
HE ley; to defeat her rival as in 10
on the sea and thus to insure
oa. the only way that modern powe
of can, her position in the world fie
ey. NAVAL SUPREMACY
the CHALLENGED
-est Within the past few weeks as
the ready indicated in these column
in the hope of Great Britain to ma
lrly tain naval superiority has likew
is been shattered. Even Senator B
ali has joined the jingo chorus
hat those shouting to England: "Scl
for your battleshipsl" 1t has beco
po- clear that parity" between
mot two countries means ship for ST
in cruiser for cruiser, gun for G
the Britain, in other words, would
,uth unable to win at the confere
vely table. No ships will be scrap
oyer said Great Britain. Then we 81
ow- have built up. to "parity" repl
aled America. Result: The naval par
test is off Ramsay Macdonald is
plus to come here. Naval and milit
sorb circles in Washington breathe e.
that er and exult editorially in their
her fetal publications.
LAC BUSINESS DEPRESSION
end MAY COME
mics The new rivalry has borne
.alth first fruit in Great Britain's st
up at the Hague conference at wi
i, Mr.. Snowden laid down the B
d of ish ultimatum revision of
y to Young plan. Americas immed
ton. answer was the raising of the
ag- discount rate TO so, a meas
rized which has brought on young !
the ic on the London exchange
7hich may eventually precipitate a {
S on Gus depression in the Un
e. States.
table u. S. FINANCIAL
reg DICTATOR
sums Within tn elast few days
Y the State Department has announc
lange change of plan in regard to
), ad. sanction of foreign loans. At
Us OF present time the administrs
the must be consulted as to its atti
mons on any proposed loan by Amer
Ilnuei bankers to foreign governm.
IS ms The proposed plan is to establl
complete world censorship ovel
debtors of the world. No count
to obtain any loan (credit, the
blood of its future developer
I@s