The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-06-04
By HARRY CANNES.


WHAT has become of that great host of for
" tune -tellers and soothsayers, headed by
DR.. Hoover, who foretold the quick recovery
of American imperialism from the throes of
crisis? The chief wind bag is sienced. The
rest sing different tunes. Where heretofore
most of them toyed with such phrases as "a
passing phenomenon" "a slight depression"
economic storms" the more outspoken of
the capitalist sheets now readily admit that
American capitalism is undergoing of the
severest crises in its history. Not one pre-
diets an early recovery. They all "hope,"
wait" and even pray for a termination of
the crisis.
What is the outlook? The Annaist MAY
80, 1930) jabbing at Hoovers frequent and
exploded lies, says: " most observers
will probably agree that there are no active
indications of the return to normal trade by
September which has been promised this
week by Secretary Lamont and DR.. Klein of
the Department of Commerce 1t is a fair
guess that business in general rates the dec
larations of these two officials as merely
part of the mechanical and rather dis
credited Washington optimism"
But here the Annalist is indulging in
elastic optimism itself by intimating that at
an early date after September the badly dis
health. Objectivity never was a virtue of
capitalist economists, and during a crisis,
with the ground crumbling under their feet
with their theories riddled by facts, they lose
all sense of proportion and reality.
Just Beginning.
The factors which up to now have worsened
the crisis are just beginning to have effect
Industries which have made a bluff at ''re-
l.. IL.
sion. The reverberations of the world crisis,
while already tremendously affecting the
United States, will increase in intensity.
Another writer in The Annalst, A Mob,
gives us a little insight into some of these
factors. He says:
agricultural Implement manufacturers,
who have for the past several months been
running on heavy schedules, are now report
ed to be curtailing. Attendance at motion
picture theatres is said to be falling off
somewhat. At least motor company
which was operating at a high rate during
the first quarter has recently curtailed
sharply, with a resulting collapse in the
stock. 1t is possible that some of the de-
preston proof industries may, not be inn
mune after all, but may merely be tagging"
1t is these little things that Hearst does
not include in his column, "Signs of Return
ing Prosperity"
The Question of Recovery"
survey of the basic industries will show
there is not the slightest indication of re-
covery. Quite the reverse is true; a worsen-
ing and deepening of the crisis is inevitable.
The summer fall and winter months will see
a further drastic increase in unemployment,
and further sharp drops in production all
along the line. The harvesting season, with
its allegorical promise of plenty, will but
serve to pile up surplus agrarian products,
still further depress prices, and show the
agrarian crisis in all it's glazing contra lic-
tions.
Foremost, there is already under way the
most concerted drive to smash wages and
lower the standard of living of the American
workers in the entire history of the country.
Wage reductions" says the Journal of
Commerce in its leading editorial MAY 81,
1930) "however. have become more and more
numerous within the past month and have
tended to follow reductions in prices" 1t seems
that somewhere we saw something about an
agreement between Hoover, representing the
bosses, and Green, of the A. F. of l.. making
II clear there would be no wage reductions.
In fact, the Daily Worker at the time pointed
out to the workers that this was a scab agree
ment. consciously entered into by Green to
facilitate wage-cuttings by promising to pre-
vent strikes.
The Journal Of Commerce calls on all the
big bosses to start their wage-slashing cam
paign, because "there is no theory about this,