The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-06-05

native plan Of unrestricted economic
nationalism, which will be the com
bination of a measure OF economic
eautarchy" with the pushing forward
of the most aggressive economic &C
ton in the international field
The British Empire group OF ma
lions is holding a series OF prepara-
tory meetings at London before the
general conference meets. The Little
Entente countries have just conclud-
ed a regional economic meet, at which
plans were laid for joint action at
London. France, as an anti-English
move. is vociferously proclaiming its
friendship for the Soviet Union.
The conflicts brought TO a head by
the Arms conference, and by the
Four Power Pact negotiations, are all
being carried over to the London
conference.
The Excluded Debt Question
What are some of the problems
around which the inter-capitalist an
tagonisms will take concrete form -
the London Conference? With char
acteristic hypocrisy, the main ques-
ton is one that has been officially
excluded" from the scope Of the con-
ference. This is the debt problem.
The United States is owed some ST.
000,O00,00O by the European states.
France has repudiated her part Of
the debt. In England the movement
for reputation is growing hourly.
The Daily Mail writes: There can,
of course, be no question of pay
ment in full by this country :" The
Daily Express writes: "The end of
this game of blind mans bluff is that,
in eleven days time we shall enter
into a talk with sixty odd nations
with neither an idea nor an atmos-
phere. There is only one way to
bring reality into those discussions.
It is to say, frankly and now, NO
DEBT PAYMENT Thus, the II
billion dollar debt owed the United
States, which one might have thought
a weapon in the hands of America
is becoming at the same time a
weapon against America in the hands
of her debtors. This excluded sub
iect will be one of the dominating
factors in the conference.
Linked With Arms Dispute
Another factor which, also eXclud-
ed from the discussions. will play a
large role in determining them, is
the arms question. America, at
Geneva, did her best to keep the
Arms conference alive during that
time when the London conference
would be sitting In this she was
unsuccessful, but the arms question
will nevertheless occupy an import
ant place in the haggling and bar
gaining where the real work of the
conference will be done
Germany's intention to proclaim q
suspension OF all foreign debt pay
ments, will add another first-clasS
problem to the conference agenda
Germany has also in the last few
days embarked vigorously on policy
Of imitation, thus further aggraVat-
ing the disturbed currency situation
of the capitalist world.
The instability of world currencies
the international tariff situation, and
aggravated cases of inter- apitalist
competition, of which the present
Anglo American conflict is a classic
example, will help to fill out the bill
of fare.
To suppose that any solution could
arise out of the Economic conference
would be absurd. This conference
like other conferences before it, will
merely bring out in clearer and more
explicit form, the antagonists that
exist in the capitalist world, and con-
firm the announcement of the XII
Plenum of the Executive Committee
of the Comintern that we have now
seen the end of the period of rela-
tive stability of capitalism.