davidaulloa/AmericanStories huggingface dataset:
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
The Cause of the Stock Market Crash

more aceentuated by the agricultural crisis.
The financial press was forced to say:
"They (the bankers L. P.) recognize that
there is an economic basis for the present sit
uation." Journal of Commerce, Nov ~
However, Lovestone, seeing unlimited pros
perity can not even make as fundamental an
analysis as the bourgeois economists, concern
ing the cause for the stock market crash The
right wnger, Lovestone, refuses to that
the contradictions of capitalism today so
sharp, that capitalist sterilization is becoming
so undermined, that capitalism can no longer
effectively cope with these contradictory forces
and has to go downwards. Lovestone says in
the End issue of the Revolutionary Age:
"The panic on Wall Street did not come as
result of the decline of capitalist economy.
1t came a result of the very strength of
capitalist economy magnifying and sharpening
the contradictions of world capitalism" Uove-
stones emphasis)
However, this proved to be insufficient for
LovestOne He issued a special document on
the stock market crash where he more openly
showed his bankruptcy, Lovestone said;
"Nor is it correct to say that the decline in
auto steel and construction in the third quar-
ter of the year played the major role in the
collapse of the stock market. :"
LOVESTONES JUGGLING.
This statement is typical of Lovestone. The
question is not if the decline of production in
auto steel and building industries were the
major factor in the stock market crash. What
is important is to establish the fact, that the
stock market crash came as a result of the
existing contradictions in American economy
and that the decline in production of the most
basic industries further accumulated these con-
tradlctions which were the basis for the stock
market crash. Lovestone by putting the ques-
ton that the decline in production in auto,
steel and building did not play the major role
in the stock market crash thereby also says
that the decline in production in these basic in
dustries generally played no role at all.
This vulgarity beats even j. p Morgan who,
in the monthly bulletin for November pub
lished by the National City Bank, in its analy-
sis of the for the stock crash, was
forced to come out and admit that
while reports of slackening business in GER
tain lines of industry may have been one fac
tor in the final break :"
j. P. Morgan's bank here recognizes that
"slackening business" was at least zone factor
in the final break" while Lovestone the right
wing renegade, in typical Hooveran manner
refuses to recognize that the decline in produc-
ton in steel, auto and construction have some
thing to do with the developing crisis. In this
connection the theology and conceptions of
Lovestone run in the same direction with the
socialist Party. The New Leader of November
16 said
"The collapse of stock prices therefore, is
attributable principally not to financial or in
dustrial conditions"
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
BY EARL BROWDER.

THE attacks upon the Party have been grow
l ing more severe With the Party throw
ing off the paralyzing influence of the Love
stone renegades and getting into action in the
class struggle, and in the great International
Red demonstrations, our class enemies are
more and more resorting to suppressive meth
dds Their object is to drive the Party into
illegality. Our answer must be, intensified ac
tivity among the masses, and BUILDING UP
THE PARTY ORGANIZATION IN THE
SHOPS AND FACTORIES. That is the mean
ing of the recruiting drive that begins on Dec.
10.
In order effectively to recruit workers into
our Party, it is necessary to make clear to the
prospective members what is the Communist
Party, what are its aims, and how does 1t work.
We must give the workers the full understand
ing of how building the Party is the best
answer the attacks of the bosses and their
agents. We must give them the understanding
of the Party's role, as it was described by
Jenn;
BY educating the workers Party, Marx
ism educates the vanguard of the prOletar-
lat. thus fitting it to seize power and to
lead the whole people towards socialism, to
carry on and organize the new order, to be-
come the teacher, the guide, the leader of
all who labor and are eXplOited-theIr
teacher, guide and leader in the work of
organizing their social life without the
bourgeoisie and against the bourgeoisie."
On state and RevOlutiOn.O
His understanding of the role of the Party
will prepare the workers for assuming the
duties and responsibilities of membership-and
and the same time it carries out very neces-
ray preliminary SELECTION process among
prospective members. 1t drives away the
faint-hearted and undisciplned, those still I'M
der the influence of the capitalist class ideas,
and it draws closer the true proletarians, the
workers in the shops, who are filled with the
spirit of struggle against capitalism, and who
are seeking the means of realizing their urge
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
SOUTHERN COTTON
MILLS AND LABOR

too! Anyway, we had one or two short les
sons a day. Now it was into the parlor and not
into the yard that Mrs. Crenshaw called Glad
VS." but more softly and less frequently.
''What are you going to do when you grow
up, Little Gladys?" | asked her.
"You mean whin I'm fourteen? | wanna be
music teacher, but Ma says l cantn' tn mills
tn bes' place fer me. Pa, he says ne want TO
keep me in school as long as he kin. He coulden
go enuf hissef. But guess I'll be mill hand
Where'd you say sharp was?"
Annie, Maggie's step-daughter, was pretty
Celtic type and ful-blown at twenty. She and
Frank had been married five years and had
had two children Jack, now four years old, and
a little 'un that died. Soon there was to be
another, but Annie had not stopped work at the
mill Frank was an energetic lad of twenty
four and in many ways the most intelligent
person | met on the hill. He had come back
south during the last war. and his falling for
Annie tied him to the mills for life. Over
seas he had been gassed and his lungs were
going bad on him. He even had hemorrhages,
but the government had refused him compen
Sation.
"Next time there's war;" he told me, "some-
body else can do the fighting. | fell for the
Democracy stuff n volunteered. But it wuz
a rich mans war n a poor mans fight" This
found popular phrase on the hill. ut wuz
Wall street n tn bankers that made that war,
N us poor folks what went to tn front"
frankie had been union man up north, and
he told us that it was "as different as daylight
and night in a union mill and this one here.
But Annie won't leave, and there'll never be
a union here, tn people won't stick together
enuf,"
(To be continued)
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Soviet Youth Greet GastOnia
Strikers.

We the members of Kommuna Trud, the In
ternational Red Aid organization, the Young
Communist League and the Pioneers, who came
two and half years ago from America to the
U. S. S. R. to partake in the practical social
istc rebuilding of the nation, being now gath
cred in an international meeting, send our
fiery greeting to the revolutionary working
class of America and especially to the heroic
Gastonia strikers in its ranks.
with admiration and pride we have read
of their valiant struggle in this strike, how
they have heroicaly defended their elementary
rights against capitalism's tyrannical exploita-
ton and bloody terror. We know that the capt.
talist forces mean to eliminate the best from
among you. The proletariat of the whole
world must be aroused to prevent this.
Down with the executors of the Gastonia
strikersl
Down with the war preparations of the i'm
perialists against the U. S. S. r.
Long live the international Solidarity of the
Working Class"
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Comrade Stain Greets the Spe-
cial Far-Eastern Army on the
18th Anniversary of the
October Revolution.
(From the "Pravda." ~

To the Red Fighters and Commanders, Edi-
torial Committee, Special Far Eastern Army
Paper alarm"
Brotherly greetings to the fighters and COM
manders of the Special Far Eastern Army
fighting ceaselessly in the interests of the Oc-
tober Revolution against the attacks of the
Chinese landlords and capitalists.
Follow carefully every move of the Chinese
Observation-Disclosures and reply to their blows
with your crushing blows and thereby help our
brothers in Climatic Workers and Peasants
of Climate destroy the yoke of the landlords
and capitalists. Remember that in this glor
ious day, millions of toilers of the u S. S. R.
think of you with love and together with you
celebrate the great anniversary, and together
with you are jubilant over the victories of the
Far Eastern Army
Long live the October Revolution!
Long live the Special Far Eastern Army
Long live the Workers and Peasants of Chinal
JOSEPH STAIN.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
CAPITALISM LOST BALANCE.

The stocks offered on the market were far
below the earning capacities of their corpora
tions. The upward movement of the stock
prices was primarily based on the perspective
earning capacities of corporations, which could
come only as a result of a continuous upward
trend in production However. from the facts
above we see that the future earnings were
greatly impaired by the curtailment of produc-
ton and American capitalism Immediately lost
its balance an the entire structure Of "pros-
perity" which was built on an illusion imme-
diately collapsed.
The stock crash therefore did not come as
result of certain psychological factors the
bourgeosie and their apologists try to tell to
the masses, but is direct outgrowth of the
decline in production of the basic Industries.
which came a result of the growing contra
dctions of American capitalism which became
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Wages to Go Down

Ford's co-caed wage increase, which really
means more speed-up for the Ford workers.
will not affect the plan for wage-cut drives
that the bosses will undertake nationally. The
leading organ of the big capitalists, "The Jour.
nal of Commerce" says "Mr. Ford's decisions
have little significance as an indication of
business activity a possible guide TO what
other employer do The Journal" intim
atcs that the bosses favor wagecutting.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Our Party and the New Dues System

Heved from the pressure of ticket selling, of
numerous collections and constant Interrupt
tions, will be able to devote more time to ac-
tivizing each and every comrade, to check up
on their activities in the shops and factories,
to discuss their problems to study their tasks,
and thus develop and clarity the weaker COM
rades and strengthen our ranks. Generally the
unit will be given breathing space and will
become live force with its face and hand in
the work among the masses.
Comrades must popularize this decision of
the Party.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Soviet Youth Want Letters

letter received by the Daily Worker from
the "Ukranan YOUTH" published at Kharkov,
U.S.S.R., asks for letters from American work.
ers, dealing with conditions in factories, the
general conditions of the working class youth,
facts about the class struggle in this country,
etc. The paper wishes to obtain few regu-
lar correspondents in the United States.
All letters and articles for the "Ukranan
Youth" should be sent thru the Daily Worker
or the Young Worker, 43 L. 125th St, New
York.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Play With Philippine Issue.

WASHINGTON, Dec. CA bill for the in
dependence of the Philippines is before the for
eign relations committee of the Senate This
is merely an attempt on the part Of the repre-
sentatives of the rich farmers to force tariff
concessions for themselves by threatening to
bring up the Philippine question. American
imperialism and its representatives in Congress
have no intention of renquishing the Philip
pine colonies
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Naval Conference Hits Snag

PARIS by Mail) 1.-THE preliminary naval
conference between French and Italian i'm
perialism is meeting with big obstacles. The
representatives of the two capitalist powers
cannot agree on how much they should in
crease their naves in order to 'disarm." This
will further complicate the bigger show that
Macdonald is staging in London soon to helo
increase the British mperiast naval forces
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
NEWS BRIEFS
Workers Joining Communists
with Will to Fight Right
Wing.

LENINGRAD.-A delegation of non-Party
workers of the Putilov works in Leningrad
consisting of so persons appeared at the Party
conference of the factory, handed over red
flag and presented collective request for adj
mission into the Party. They declared that
they wished to join the Party in order to fin
ish off the right wing liqudators once and for
all and to assist the Party to carry out its
general line.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Misleader NOOnan Dead.

James P. Noopan, vice president of the
American Federation of Labor, where he took
part in the crushing of every militant move by
the rank and file and joined Hoovers fascist
council, also president of the international
Brotherhood Of Electrical Workers, where he
helped Broach's complicated sell-out of cleo
tricians in New York, is dead. He fell asleep
last night in his luxurious Washington apart
ment, with a cigarette in his mouth, and per-
isheG in the flames
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
BY LEON PLOTT.

THE stock market crisis does not only effect
the entire economic life of the country, but
it was caused primarily by the present econ
omic conditions. The growing disproportion
between the productive capacities of American
industry and markets was the main factor
which with its continuous development under
mined American capitalism. Yet prior to the
crash We find many basic industries curtailing
production and laying off workers
According to the Annalist of November %
we find that for months prior to the crash the
productivity of the most important American
industries was on the decline We see that
pig iron production from an index of 1914 in
May declined to 1929 in October; steel ingot
production from an index of 1918 in June de-
clined to 104.5 in October; freight car loading
from 1923 in May to SO in October; automo-
bile production $50 in June to 115 in October
and building contracts according to the Depart
ment of Commerce declined from an index of
141 in May to 1l9 in September. The general
index of business activity declined from 1885
in July to 102 in October
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Oil Robbers Reflect Crook
Sinclair

Harry F. Sinclair, millionaire oil brook and
briber, has been reelected on the board of
directors of the American Petroleum Institute,
which is the leading body of rich oil robbers.
Having great experience in international
bribery, corruption, robbery themselves the
members of the institute regard the proven
crook Sinclair as good director.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
European Steel Output Goes
Down.

The European steel cartel has decided to re-
duce steel production still further. cut of
10 per cent in steel production by industries
involved in the European cartel has been an
nounced This means further unemployment
of European steel workers The cut was made.
says the officials of the steel cartel. because
of increased competition on The worll market.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
Ortiz Comes to Wall Street fOl
Instructions

Rubio Ortiz, recently elected president of
Mexico, has arrived in the United States. Or
tiz is, here for instructions on further sup
preston of the Mexican masses. He will visit
Hoover and other Wall Street bankers on how
to act best in the interest of his American
imperialst masters.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1929-12-07
DECLINE NOT SEASONAL.

1t is worth while here to remark that this
downward movement is not seasonal, but forced
by the contradictions of capitalism. During the
same months of last year production in these
industries continuously the upgrade.
The outstanding feature in this situation is the
decline in freight loading The rate of
freight car loading is being taken by the bour-
geoisie as the best indicator for business con-
ditions. Not only is the freight car loading in
October, 1929, less than in the same month of
1928, but it is very closely approaching the
depression curve of 1927.
Another phenomenon that sharply reflects
the developing economic crisis and the dmn-
ishing of the buying power of the masses is
the decline in savings accounts. According to
the report of the American Bankers Associa-
ton for the year ending June 20, 1929, the de-
cline in savings accounts amounts to 1876 million
dollars. The significance of this fact becomes
particularly important when it is compared
with the previous year which showed an in
crease in savings accounts by $4,000, 100000.
The decrease not only in the total amount
of capital in the savings banks but also de-
cline in the number of savings accounts by the
withdrawal of 100000 depostors. This de-
veopment occurred for the first time in per-
iod of 20 years.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1929-09-02
LAUDS BASQUE
G|RLSFORF|NE
FIGURES

NEW YORK, Sept. Q Q.N.S9.-
The cradle of the original sports.
girl lies in the sun-kissed hills of
the Pyrenees, according to Rita
Weiman, short.story writer and
playwright, who just returned from
a vacation in the little Basque
village of st. Jean de Luz, overlook
ing the Bay of Biscay.
This mystery race, whose origin
has been lost In the maze Of history
has produced tall, broad-shouldered
Amazon womanhood with the
rhythm of the sea in their stride.
Superb Types
"They are superb types Of girl
hood with a traditional love of the
outdoors" said Miss Weiman.
"They walk like queens, swim like
mermaids and dance their native
fandango with joyous grace"
And il you think that the bare
legged and suntan fads are Ameri.
can, you are very much mistaken.
The Basque maidens have been
going without stockings and brOn1'
ing themselves on the sands since
long before Columbus made his
famous ferry trip across the At
lantic.
Filled with Nalveto
Miss WeIman told Of the naivete
of these Pyrenees lasses. One came
out of the sea and stretched out
Sarge towel. She dropped down and
by series of lightning-like manipu-
lations she discarded her one. piece
bathing suit and robed herself COM
pletely without exposing an. inch of
unauthorized skin.
"She did 1t so gracefully and skill
fully that one could not get any
impression Of immodesty," said Miss
Weiman.
Born to the outdoors, the Basque
girl wears clothing to keep her body
free. Miss Weiman believes that
there is a distinct influence from the
Basque apparent in present sports
styles.
lone large American department
store ordered a large consignment
of the rope-soled sandals which the
BASQUE girls use," she said. And
the fad of wearing bright-colored
smocks and berets IL increasing in
America.
Beret Difference
incidentally, you can tell the
American girl from the native
Basque by the way she wears her
beret. A native wears the beret
straight across her forehead a. her
grandmother did before her. But
the American girl puts on her beret
at a jaunty angle"
One of the charming qualities Of
these people is their play instinct,
said Miss Weiman. The umbrella
repairer sings a song telling Of his
trade outside his customers door.
And at the village fetes the entire
populace makes-believe and runs
hither and thither in pretended
fright as a native bearing a papier-
mache bull spouting fire charges
across the square.
Miss Weiman was accompanied by
her husband, Maurice Marks. adver.
Using man. At st. Jean they col
Elaborated on a one-act sketch featur.
ing a mechanical man.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1929-09-02
} Held in 20-Year-Old
Italian Murder Charge

NEW YORK, Sept. 2.-Twenty
years of flight from murder charge
in Sicily ended in New York for Gas
eparo Miceli and Joseph Bardaccio.
They were arrested at their home,
in the midst of their weeping fami-
lies, on a State Department war
rant issued in 1924 at the request
Of the Italian government. They
were locked in police headquarters
to await transportation to Sicily to
stand trial.
The men are no longer young. for
Miceli was Al and Bardaccio 80 at
the time of the murder.
The crime in which they are ac-
cused of being involved was the STAY
ing of Onofrio Modica. a relative by
i marriage of Bardaccio.
The third man disappeared. Miceli
and Bardaccio stayed together.
Bardaccio now has nine children
and Miceli six. The families moved
frequently. still mindful of that old
charge, but they began to feel safe.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1929-09-02
\. Y. NOT So BAD
SAYS CHASER
Of VICE

NEW YORK, Sept. 2 Q.N.S).--
Every day in every way--New
York e. growing purer and purer.
1t never was half as wicked"
- it was painted.
This Is what John s. Sumner
thinks, and he ought to know. be-
cause. as head OF the New York
Society for the Suppression OF Vice
he has been delving into its darker
corners for the last is years.
New York Is the cleanest big
city In the world" said the dig
4 nified gray-haired crusader, who has
become philosophical during his long
years as guardian Of the city's
morals. He continued:
"a New Yorker is more pro-
4 Eected as to his moral well-being
than the citizen Of the average
small town, There are between 1000
Rand 5000 organizations working for
social betterment in this city, among
them child welfare bureaus, the
Committee of Fourteen, which in
vestigates dance halls and road
houses and the vice problem; the
Girls, Service League and many
! others"
vatlons during the tedious years OF
delving into musty back-counter
booksheIves, sitting through ques-
Ys4ionable musical comedies and max
ing raids on dealers In demorallz-
ing pictures. Some Of them are
efhat-
Most of the surface wildness
that gives New York its reputation
for badness comes from its daily
100000 or 100000 visitors In
coming here to seek New York
wiIdness,' they create It,"
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1929-09-02
Quaker City Restores
100 Unfit" Policemen

PHILADELPHIA, Sept. 2.-One
hundred policemen who were
branded as unfit to hold office"
by the special grand jury which
investigated gang warfare. liquor
running and police graft for more
than six months last fall and win
ter, have been restored to duty by
Major Lemuel B. Schofield, director
of public safety. His action marks
his compliance in part with the
findings of the civil service commits
sion.
Dissatisfied, however, with the
disciplinary measures imposed by
the commission in many Of the
cases, Director Schofield ordered
additional penalties for the police
men affected, some Of which were
said to be the most severe In the
history of the police department.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1929-09-02
Elderly Husband Loses
Love of Young Wife

NEW YORK, Sept. 2.-Another
sromance of May and December
seems to have gone wrong.
Mrs. Margery Lee Adams. young
sand pretty, obtained from Supreme
Court Justice Frankenthaler an or
der directing the American vice
consul at Paris to have witnesses
examined before a commissioner
there.
That is all that was revealed,
but it was enough to disclose that
Mrs. Adams has apparently sepa-
rated from Eldridge l.. Adams, So
ciety man and lawyer, whom she
married some years ago.
Adams is we'll along in life. Mar
gerry Lee, a social secretary at the
time of their marriage. was his
third wife.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1929-09-02
HURT CRANKIWG car

RICHMOND, Va, Sept. 2.--Cephus
M. Thomas, of Kilmarnock, Va, is
in Richmond hospital in a critical
condition due to an injury suffered
while attempting to crank his car.
He was picked up unconscious on
the highway several miles from
kilmarnock and brought to Rich.
mond, where he received attention.