The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-11-13
PRESSURE BY
FRENCH ON US.

Paris The economic and fiDan-
cial crisis has put Germany at the
mercy of French imperialists. The
Reichsbank president and the Ger
man prime minister have both
gone to Paris, hat in hand, beg
ing for funds. At the insistence
of France, Germany has abandon
ed the Austrian Customs Union.
Still other concessions can be Sc
cured unless someone mterferes.
Who might that someone be?
Last summer it might have been
either Great Britain or the United
States. As a matter of fact, both
did interfere TO save Germany aft
er the French spring offensive a
gainst the mark had wrecked the
Danat Bank and driven German
economy TO the verge of collapse.
French imperialists know how
to pay off their scores. Already
one of the "meddlers" has been
punished for his audscity. By a
skillful manipulation of the money
market the French bankers weak
ened British credit and drove the
country off the gold standard by
almost the same devices that they
had employed to drive German E.
economy on the rocks. The cam
paign was masterful - selling
pounds, day after day; buying
gold and shipping it to France;
selling pounds and buying dollars.
These financial transactions, exc
cuted on an immense scale, were
accompanied by an insistent and
isidious propaganda that progress
sively destroyed confidence in Fthe
stability of the pound. British e.
economy. undermined and shaken
by the world economic crisis, could
not stand the strain.
The other "meddler" is still un-
punished, but his turn has come
During past weeks, gold losses
from the nUited States have beer
unprecedented and most of the
shipments have been for FTecnl
account. The same tactics are be
ing used against the dollar tina
were used against the mark anC
the pound - selling dollars, buy
ing gold and shipping it to France
selling dollars, buying other cur
rencies; and insessant. insidiou
propaganda.
The credit Withdrawals an,
the gold drain from New Yorl
are already financial history. Al
example of the propaganda ap
pears on the financial and econom
ic pages Of the Paris-Midi. Al
most half of the page is devote
to the American Crisis. The articl
begins "At Warsaw they accep
dollars subject to an extraordinar
discount. The Swiss Natl. Ban
treats the dollar as money that II
wolves risks. And the withdraws
of European capital continue
from the New York banks" Tn
author points out that the "fre
gold in the United States is some
where between S900,000,OO0 an
s1,SOO.OOO,OOO. ron one day tn
= United States lost S56,000, 900 j
gold. At the rate of S56,OOO,O
a day, how many days will it TAX
to exhaust a stock of 5000, ,OC
of free gold?" The author leav
the reader with the impressio
that within three weeks the Unite
States will be following Gre;
Britain off the gold standard.
Credit manipulation could not
used with such drastic effect
ordinary times. The French du
ing class is using the collapse
the limit against any rival WI
threatens French continental s.
premacy. Whv the French car
paign against the dollar now? Is
German crisis NAV at any TN
throw German capitalism into Z
arms of French big busine:
Great Britain can no longer int
fere. Only the United Stat
stands between French imperi;
ism and its intended victim.
accomplish their aim. if it is ne
essary. they viii use their cree
power to smash everyone of thu
competitors for the supremacy
the imperial world.