The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-09-04
By NJ. T.

CONCURRENT with the deepening economic
crisis, the war danger is increased by leaps
and bounds. The world crisis is getting worse.
There is no let up. Great Britain, like Germany
and the rest of Central Europe has fallen into
the maelstrom of intensified economic and fl
nancial crisis
In the meantime, American capitalism has
suffered severe repercussions which as result
has widened the economic crisis in this coun-
try The forced optimism of capitalism's pro-
phets has been drowned out by force of facts.
The situation here is becoming worse, which
means more wholesale wage-cuts for the work
ers Here is what the financial editor of the
Journal of Commerce wrote on August "a:
owing to the combined adverse influences
of bank failures, low commodity prices, insult
ficient adjustment of business costs to smaller
volume of production and unsettled foreign con-
ditions, hopes that more general major bust
ness revival would get under way within the
next sixth months are rapidly disappearing In
stead, the more optimistic are now basing their
hopes the latter half of 1882 as an appro-
pirate period from which the major revival may
be dated. This is based largely on the prospects
Of higher commodity prices by that time, to fol-
low better technical situations in the staple
markets which may result from steps now taken
contemplated to get rid of surplus stocks, and
reduce the new supply.
"On the other hand, it is generally admitted
that the return of more active business might
be considerably delayed by unfavorable develop
ments in these respects. Adverse developments
abroad in particular, by delaying recoveries in
the commodity markets might cause the depres-
sion to be protracted considerably beyond 1882,
making a new intergovernmental settlement a
particularly important element in the evolution
of world economic recovery"
Capitalism is in the throes of the worst eco
nonaic crisis in history. The fundamental con-
tradctions and antagonisms have become ac-
centuated, The struggle for foreign markets, for
colonies and redistribution of the world has be-
come intensified This struggle brings the cap
italist countries into conflict
In order to insure their profits, to guarantee
their dividends, the capitalists are exploiting the
workers more and more. If they do not succeed
In overcoming the crisis by this ruthless ex-
nloitation of the workers, they will attempt to
solve the situation by war.
The economic crisis weakens the capitalist sys-
tenn, hastens its decay With this confronting
them, that is, life and death struggle the cap
italiats are marching straight to war to salvage
the wreck. All the talk about disarmament and
peace is just so much Illusion and lies
At Williamstown Institute recently Prof Gre
CORY said that '1f nothing we're done by next
spring the world would witness an i1tensfica-
ton of the credit crisis, which would be affected
also by the probable failure of the Geneva arm
arnerts conference IN. Y. Times, August 1o)
Raymond Leslie Buell. in the News Bulletin
of the Foreign Policy Association for August e
writes
There is little prospect that the disarmament
conference, called for February 1882 will sue
coed SO long as the burning economic and DO
htical issues of the world remain unsolved If
that conference conVenes and ends in failure it
is obvious that the international situation will
be worse than before"
These burning economic and political issues"
are the many. antagonisns and conflicts among
the imperialist countries. They cannot be solved
in a peaceful manner The sole solution is
war All the politics which capitalist diplomats
are playing now will end in war for war is but
a continuation Of politics by other means" ie.,
force
The crisis gets worse and the capitalists pre-
pares for war.
The present conflict among the imperialist ma
lions over the Young Plan, and Germany gives
a definite example Of deep rooted antagonisrn
France wants the maintenance Of the status quo
in Europe, ie. the Versailles Treaty and the
policy of alliances American Imperialism wishes
to break French hegemony in Continental Eu-
rope. Also to protect its investments in Ger
many. Hence desire on its part to relieve
Germany. French imperialism is an obstacle to
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