The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-06-26
What. Another Sixty Days?

In 1928 when German capitalism was lying
flat on its back gasping for air, Wall Street
rushed the pulmotor over with Rufe Dawes and
his funny pipe So the Dawes Plan was born
about nine months later with the blessing OF
The first labor" government in Great Britain.
Dawes became a Great Man over night. Gone
was the memory of how he helped Lorimer
Chicago banker and politician. swindle depos-
itors money. The Dawes Plan nearly gave us
Dawes for President.
But before 1928 elections the Dawes Plan
was on the rocks That saved us from having
a jigger- pped fascist for President. So. after
Dawes pulmotor wouldn't pull any longer, Owen
D. Young, one of Morgans young hopefuls. was
sent over with an oxygen tank. Meanwhile,
under the Dawnes Plan, American bankers had
poured over billion dollars into Germany in
loans That's why Young took charge and after
his famous Committee of Experts" exported
for year. the Young Plan was Matched out in
1880, with a long tail feather called the Tn
ternational Bank of Settlements"
But hang it all, hardly had owen D. Young
got back to the General Electric Company and
a democratic boom of Young for President"
than the thing caved in again in spite of all
the German socialists" could do to help the
Bruening capitalist dictatorship load the work
with taxes, wage cuts and Economics"
They said: "These capitalists don't know how
to run capitalism, they pile load on the work
ers that would break the back of mule. But
if the workers take our advice we'll fool these
capitalists! Let the workers bear the burden,
save German capitalism and show up the bun
Cling capitalists
But the German workers began to balk Bar
ricades went up in the streets and stocks went
down in the stock exchange. Something had
to give way.
Something did give way. Hoover broke the
ice of splendid isolation" Remember that the
U. s. Government never signed the Versailles
Treaty, nor recognized" the Dawes Plan, nor
the Young Plan. Under Harding, Coolidge and
Hoover the U. S. said Our economy is inde-
pendent of Europes. Europe may be bank
rupt, but we're not we're prosperous and will
remain so"
'That's right" said John Pepper and Jay
Lovestone. If you don't know these lads, we'll
say briefly that they were once in the Com
munist Party but got bounced out for being
faithful to Hoover. But now Hoover has be-
trayed them; a dirty trick since they never
betrayed Hoover. Now we have the Hoover
Plan, as an amendment to the Young Plan
which was amendment to the Dawes Plan.
Hoover has promised to save Germany. More
he's going to solve the whole world crisis. To
do so will cost just s427,164O4O, the total repara-
tons loot from Germany for one year. That's
mighty cheap salvation for capitalism. The
funny thing is that Hoover says that not to
pay this will save Germany, and not to get
this money will save the rest of the world.
France doesn't want to be saved Not that
way. France would get $1o0,OOO,OOo from Ger
many, and doesn't want to be saved by not
getting it. mean man in the French parlia-
ment said that Hoover is generous with the
money of American and French governments
because what Germany doesn pay them can
be used to pay interest to Wall Street bankers
who have billions invested privately in German
loans.
Anyhow, Hoover offers to solve the world
crisis at reduced rates and promises that pros
perity will be back in one year. But on March
8, 1890, he said it would be back in sixty days
This promise is just as full of hooey as the last
one