The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-09-11
THE ECONOMIC CRISIS IN THE
UNITED STATES

ton is a good beginning and must mark the
beginning of a real theological political and
OrganizatiOnal connection between the Canad-
ian and American Parties. For instance, the
question of the Canadian bourgeoisie, the ques-
ton of whether Canada is a colonial or inn
perast country; these questions are also
very important for you comrades in the United
States and should be discussed by the Ameri-
can Party. Comrade Smith in his speech,
made some sharp criticisms of the thesis of
this convention mainly on the question of the
economic crisis.
AS | have tried to point out, the connection
between the general crisis of world capital
ism and the economic crisis is presented cor
rectly in the thesis. This question may be new
for the Canadian Party but is not so new for
the American comrades. Already at the very
outbreak of the economic crisis, the Polburo
of the American Party adopted resolution on
this question pointing out this connection of
the economic crisis and the world crisis of cap
italism.
Comrade Smith asked up why we did not
explain in the Convention Thesis, this con-
nection between the economic crisis and the
world situationNof the Third Period. The Party
explained this in the preliminary thesis for
INFLATED in March, and adopted by the Polburo.
There was given then very clear formulation
in this connection. This preliminary thesis
declared that the present economic crisis
develops on the background of the general
crisis of world capitalism.
So in my opinion the formulation proposed
by Comrade Smith is unnecessary. By the
way, this formulation was proposed for in
sertion in the thesis to be presented to the
Party Convention, but some very authoritative
comrades advised the American comrades, DO
not write this into the thesis because it is too
elementary and must be known by every mem
Der of the American Party"
Industrial Cycles Continue.
AS regards the causes of the American
economic crisis, Comrade Smith attacked the
thesis for its Interpretation of the economic
crisis, its Characterization of the crisis as
typical" and "cyclicaT. He declared that this
is wrong, that the crisis is not "cyclical."
The theory or teaching of Marx on the in
dustrial cycle as typical form of capitalist
production remains the basis of our under
standing. We do not have to revise Marx on
this point.
The theory of the development of capitalist
society through industrial cycles has not beet
destroyed by anyone. The present crisis is
exactly an expression of this development of
capitalist economy through industrial cycles
BY what economic cause was this crisis ere
ated? Was it exceptional crisis created by
an earthquake or flood? Was it tulip crisis,
such as they once had in Holland, where it
things for 20 years? Is the present crisis
such an exceptional accidental crisis? No,
comrades. This crisis was created by main
contradictions of capitalist society," the con-
tradctions between the social character of la
Dor and the private exploitation of the pro-
ductive forces of capitalism, and takes place
in the sharpening crisis of Imperialism in the
situation of the Third Period.
How did Marx characterize the economic
crisis? He declared that the cyccal economic
crises are the self-created temporary and force
full regulators of the anarchy of capitalist pro-
duction. Only partisans of the theory of or
gained capitalism would assert that now the
anarchy of capitalist society is replaced by
organized capitalism.
When we say "cyclical economic crisis" we
mean specific form of the capitalist process
of production established by Marx and adopted
by every Communist throughout the world
Without this theory, it is impossible to UNDER
stand the nature of the economic crisis; it is
impossible to understand the inner mechanics
of capitalist society.
ITO Be Continued.)