The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-01-11

vague general comparisons with the fascism Of
Mussolini. The development of fascist tenden-
cies is fastened by the economic crisis, which
by its wholesale appropriation of petty-bour-
geois spectators and small producers, narrows
the social basis of the Government. A phase of
this tendency is emphasized in the direct in
sertion of representatives of finance capital
into Government Morrow and Grundy into the
Senate; the proposal to draft Pershing, out
standing militarist, for the Senate).
TO- Hoover's announced plan for meeting
the crisis contains two main points: first,
stimulation of public works, building, and
capital investments; second stimulation of
experts. Of the first question, most of the
published plans are for psychological effect,
for propaganda purposes, and are not expected
to be carried out. For as one spokesman of
finance capital stated, "The depression itself is
in large part due to what is now proposed as
its remedy" CAnnalist,' Nov. 22). And further,
at is worth noting since various newspapers
have headlined railroads to spend billion in
1880 that nothing like pledge of that sort
was or could be given. The amount of rail-
road capital expenditures next year will be
governed by interest rates and the state of
business as it develops during the next six
or eight months" wall Street Journal, Nov.
2O. "The conference which he 1.-THE PRESIDENT
proposes to call may have something more to
suggest but it must be suggestion based upon
sound economic lines rather than the resu1np-
ton of building and construction movement
already overdone in many directions" journal
of Commerce, Nov. 18). To the extent that the
construction programme is carried out, it will
be primarily in the nature of war preparations
(improving water communications, etc.) or
capital investments incidental to further con-
styling the existing contradiction between pro-
ductive capacity and markets. By no means
will it even approximately equal the "normaI'
construction of the past five years. Another
typical example of the policy of the bourgeoise
Ito meet the crisis was the income-tax reduction
which was a gift by the Government of 100
million dollars to the small group of wealthiest
capitalists
The plan for expansion of exports is much
more seriously intended, and entails far-reach-
ing consequences. Here we find the con-
Meeting link between domestic and foreign pol
icy, between national and international ques-
lions, between the inner and outer eontradic-
lions. The narrowing domestic markets,
choking the enormous productive forces
leave no road open for U. S. capitalism except
that of the capture of new foreign markets
And since the present exports of the United
States, already a large proportion of world
trade, are only 10 percent of the normal"
production, it is clear that for production to be
revived upon the basis of exports requires the
most enormous increase of foreign trade-an
increase that presupposes the destruction of
rival imperialist powers who are driven by the
same contradictions to seek the same increases
of export, or by the destruction of the Soviet
Union and the seizure of its enormous market
again by world capitalism. Driven by its ac-
cumulating inner contradictions, American i'm
perlalsm makes war upon the working class,
and at the same time war upon the colonial
peoples, and prepares for war against it's i'm
perialst rivals and against the Soviet Union.