The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-12-09
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the present confusion?" The imperialists
everywhere are asking themselves the same aues-
ton now but they do not merely question They
act 1t is these actions that concern every
worker
We go on to learn from this confidential
document that Governor Harrison of the New
York Federal Reserve Bank, who is New Yorks
Chat is, Wall Streets not Washngtons repre-
sentative" has gone to Berlin to see Luther the
big German banker. Harrison, we learn, went
TO Berlin instead OF having Luther come to
Washington to discuss with Mellon and Hoover
because Wall Street wanted its man to plan
things first and then hand the results over to
their government. Harrison did talk and we
learn ut is stated here that Harrison brings
positive moratorium proposals or a plan for a
general war-debt readjustnent"
Harrison has since returned from Europe On
Saturday, Dec a special meeting was called
at the Federal Reserve Bank building in New
York to discuss the qquestion of the Young
Plan and the war debts. Among those present
were none other than Owen D. Young, j. P Nor
gan Robert Lamont and Harrison Just before
this meeting Young had made speech urging
revision of the war debts as last minute eff
fort to keep Germany from smashing on the
rocks of political and economic crisis.
But what is all this based on and what does
it mean for the workers not only in the United
States, but everywhere? The whole plan is
plainly and boldly set out:
Europe has decided to stake everything (that
is, stake the existence of the capitalist system)
on general deflation that will permit or neces-
state: Cd Revision of reparations and war
debts; Cd Wage decreases; CD Debt converse
lions. so as to materially reduce the burden of
tsoy1J Y,rioa
For the workers this means that the whole
solution" is to pile the burdens on their backs,
not only through wage cuts, but by lowering
standards of living besides slashng wages. and
by general worsening of their conditions of
work and life.
This does not refer to Europe alone, as this
document clearly informs us, for Even in Amer
ica although there is plenty of talk about the
maintenance of wages. the fact is that wages
are being decreased, openly or by indirect de-
vices of one sort or another"
There are other facts along the same general
ine-the worsening of the world economic crisis.
and the serious problems which confront the very
existence of capitalism, with the conclusion that
the main attack must be against the workers of
all countries.
We find that the bosses now admit that the
post war crisis, coupled with the present severe
cyclical crisis is threatening the capitalist sys-
tem and they must act to save it, Their actions
are directed against the workers and in prepare
ton for war against the Soviet Union The
doc,r. az ing TIE severity of the post war
crisis, says
What is happening therefore is major
change of the economic base, colossal under
taking, and it represents an attempt finally to
get the financial consequences of the war put
on a firm basis llnderct nd able hv ovory,,od,,
on which basis the new era will be founded"
The major change" is being aided by the Sec
ond international, and the Yellow Amsterdam
International, as well as by the A. F. of L. in
this country in aiding the preparation for war
on the Soviet Union, while supporting and aid
ing tie attacks against the 'orkers in the form
of wage cuts and speed-up