The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-03-11
GERMANY AND THE YOUNG
PLAN
Speech Delivered by Thaemann at the Meeting of the
Reichstag February II, 1880.

the whole of Germany, from the West to the
East from the coastal districts to Bavaria be-
comes an occupied area" of capitalist reaction.
How is it with the second promise made by
the social democratic government, that the
Young Plan would tighten the burdens of the
masses of the population? The fact is the
Young Plan brings no alienation for the work
ing masses, but for the German bourgeosie.
The experts sent by this government sue
ceeded in obtaining present of 800 million
industrial bonds for German industry. Even
if the Young Plan means a reduction of 6S5
million annually as compared with the Dawes
payments, this alienation is counter-balanced
by the following facts. During the period Of
the Dawes Plan about 10000 million long and
short-termed credits were accepted in Ger
many. These credits are expiring and cannot
be renewed. During the time of the Dawes
Plan, therefore, Germany received in credits
twice the amount paid by it in the form of
reparations. Now Germany will have to pay
almost everything out of its own pocket, or
rather out of the pockets of the working peo-
pie. In the first period of payment, therefore,
that is for 81 years, Germany must pay on an
average 2187 millions annually. If we reckon
the annual interest on and amortization of the
Dawes Plan at 8S million, further the amor
tization rates payable under the Belgian mark
agreement, and finally the participation and
investment without interest in the world rep
arations bank, then the average annual pay
ments during the first period of payment
amount to at least 1900 million. To these
reparations payments there is to be added dur
ing the first decade the annual 1,400 millions
interest on the $4,000 million foreign credits,
after deducting the 5000 millions of capital
exported by Germany.
In all, therefore, not 1900 millions but
$500 millions will have to be paid out of the
pockets of the German proletariat every year
as tribute to foreign capital.
The transfer protection is for the greater
part abolished. The Dawes payments were
made in German marks, whilst the Young pay
ments must be made in foreign gold currency.
AS result, a fresh initiation can easily arise.
In addition, under the Young Plan payment
in money is to great extent to take the
place of deliveries in kind. This will of nee
essity increase unemployment AMI worsen the
conditions of living of the German proletarat
still further. l will only cite few figures:
In the first reparations year of the Dawes
Plan, Germany made deliveries in kind to the
value OF 667 millions to the Preparations ac-
count. In the Dawes Preparations year 1928
1929 about 100 millions PREPARATIONS payments
As against this we have only to reed the new
figures of the Young Plan, which in the first
year provides for only $50 million in deliveries
in kind, which by the tenth year will fall to
300 millions and then will lie dorc away alto
gether, in order to see how the situation is
worsened
Of the very greatest importance in this con-
nection is the new economic crisis which has
commenced in America The United States
the most firmly welded imperialist country,
which gained enormous financial advantages
from the world war; is now seized by the gem
eral crisis of capitalism. AS a result, America
is now proceeding to extend its own export
offensive on the world market. The fight for
sales markets is becoming more fierce than
ever the world has seem 1t is obvious that
also from this point of view the position of
the working class of Germany under the
Young Plan will become unbearable No al
deviation, but instead tremendous increase of
misery and exploitation will ensue.
Ill Ito be continued) -: