davidaulloa/AmericanStories huggingface dataset:
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
Morgan, A World Money Power

porations have been enormously in
creasing their holdings outside of the
United States. This is another phase
of the world power of Morgan. Cen
eral Motors, for example, manufac-
lures cars in Canada, Germany and
England, Morgan's electrical inter-
ests have expanded into closely knit
worldwide electrical trust. This func-
tons chiefly through three companies
and their subsidiaries: General Elec-
trio, International Telephone g. Tel
egraph, and American and Foreign
Superpower. Among them they are
manufacturing electrical apparatus or
operating telephone, radio, or electric
power service in almost every capital
list country in the world.
In spite of the London office and
the strong British connections, Nor
gan personifies the growth and power
of American capital which stands in
sharp opposition to British capital
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30

ana steps to quaSh competition on
behalf of vested interests.
The Hugenberg big-businesS group
is forcing through ultra-capitalistic
measures, such as the restoration of
syndicates rights to boycott and pun
ish price-cutting by member com
panies.
Industry Declining Steadily.
Industry is on steady decline in
almost every branch of production
The Feldmuehle Corporation, big
paper producers, notes a serious drop
in the demand for newsprint owing
to the suppression of so many news
papers throughout Germany.
The production of pig iron drop
ped 93 per cent in April, compared
to the March figures, while steel ex-
ports are extremely slow Coal pro-
duction in the Ruhr has declined
considerably and the stocks of I'M
sold coal piled up near the mines
have reached the record level of H.
100000 tons.
Only 5l1 ships with a total tonnage
of $4,000 tons arrived in the Weser
River Ports Gncluding Bremen and
Bremerhaven) during April, a de-
cline Of 10 per cent from the March
totals.
Foreign Orders Cancelled.
The textile industry on the left
bank of the Rhine reports that it
has lost all its markets in Belgium
and Holland. The same is reported
by the Rhineland machinery industry
and the Solingen steel plants.
The big Felten & Guillaume Works
manufacturing cable) in Cologne re-
ports a loss of 100000 marks of Or
ders from Belgium, Holland and Eng
land during the first three weeks of
April alone.
This years Leipzig Fur Fair, which
for centuries has been the biggest of
its kind in all Europe, has collapsed
almost completely owing to the boy
colt Of American, French and Brit
ish fur merchants. On May IL furs
worth 5000 900 marks had to be with
drawn from auction because there
we're no buyers for them.
Big Crop HoldOver.
Large quantities of last years crops
remain unsold, according to the April
18th report Of the German Agricul-
tural Board. In former years, Ger
many not only consumed all its own
crops, but also imported large
amounts of grain from abroad. This
is a proof that the consumption of
bread in Germany is dropping owing
to the lowered living standard of the
German masses.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
HOLD ANTI-NAZI
MEET IN NEWARK

NEWARK. N. j., May 29.-Some
$50 workers led by the Commu-
mist Party Of Newark demonstra-
ted Sunday in front Of hall where
a Hitler meeting camouflaged as a
concert was being held. The work
ers carried signs and shouted slogans
protesting against Hitler's terror re-
gime in the face of tear-gaS bombs
and police guns The Hitler meeting,
which was very small, was recruited
from the SIS. Hamburg" Of the
Hamburg American Line. Two work
ers were arrested at the meeting, A.
Woods of the Communist Party and
Ray Miller of the Young Communist
League.
The Socialist Party organized an
Anti-Fascist meeting of their own
the same night, after breaking away
from the United Front Committee,
lust before the Committees large
mass meeting last week At the meet
ing delegation sent by the United
Front Committee to speak was re-
fused the floor. The leaflets distri-
huted by the United Front Committee
at the meeting were eagerly read by
the rank and file Of the Socialist
Party at the meeting
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
City College President
Swings Umbrella on
Anti War S t u d e nts

NEW Notwithstanding an UNI
brella, President Robinson of City
College led police in an attack on
500 militant students in an anti
Reserve Officers Training Corps pro-
test outside Lewisohn Stadium yes.
terday. The R.OT.C. was parading
inside the stadium while members Of
the Social Problems Club, the Stud
ent Forum, and the Campus Anti
War Committee demonstrated on the
outside.
Robinson, enraged by the display
of militancy shown by the Students
waded into the mass of students fol-
lowed by policemen and army officers.
Though the riot squad was called, the
students refused to break their ranks.
Representatives of the National
Student League distributed leaflets
and made speeches urging the stud
ents to demonstrate against fascism
here and abroad this afternoon Ma
tional Youth Day, at 2 pm. at 128th
Street and Lenox Avenue.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
Huge Shoe Orders by
Army in War Moves

The spotlight is again thrown on
the United States governments prep
arations for war by huge order for
army shoes just placed with the
Joseph M. Herman Shoe Co. of Bos-
ton, Mass At the same time an or
der for 5000 pairs of shoes has been
placed with the Brown Shoe Co. of
st. Louis, Mo, according to infor-
nation from the Army Quartermas-
ter's Department in Philadelphia.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
BY ANNA ROCHESTER,.
Article 3

THE author of the following article
which is the last of series of three
which has been running in the Daily
Worker, has also written two excel
lent pamphlets on the rule of the
capitalist bankers. The first is wall
Street" and the second is called
profits and Wages" They are both
available at the International Pub
fishers, 381 4th Avenue, New York
City, for 10e each.
At present, she is engaged in fin
ishing remarkable study of United
States finance capital, which con-
tains a more detailed and thorough
analysis of the Morgans than has yet
been unsatisfactory
INDIAN jute workers, native African
1 copper miners, Chinese telephone
workers, European electrical workers,
Canadian and German auto workers
and others in many countries and
many industries are contributing to
the support of the House of Morgan.
English engineers recently convicted
for spying in the Soviet Union and
collaborating in sabotage we're en-
ployees of a company jointly owned
by Morgans General Electric and the
British armament firm of Vickers,
Ltd. Vickers, in its turn, is not be-
yond the Morgan sphere of influence.
The House of Morgan started its
career in London. Eighty years ago
Junius S. Morgan, grandfather Of the
present j. P, became a partner in
Peabody and Co., an American pri
vate banking firm that grew rich
from handling foreign exchange and
selling American bonds to British
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30

capitalists Ten years later, in 1868
when Peabody retired, Morgan be-
came the head of the firm and
changed its name to j. S. Morgan
and Co.
For three generations, the Morgan
family has headed this important
London House, in which the 20 Am
erican partners share responsibility
and profits with half dozen others,
mostly British. E. c. Grenfell, one
Of the British partners, is director
Of the Bank Of England. Sir Thomas
S. Cato lives in Calcutta and helps
20 manage the large jute interests
headed up in Yule, Cato 81 Co. He
is director Of the Mercantile Bank of
India, Ltd, and through him the
House of Morgan is linked to the
Oriental Telephone and Electric Co.,
Ltd, of India and Hong Kong.
Charles F. Whigham is On the Lon
don Committee of the Hong Kong
and Shanghai Banking Corporation.
the biggest unit of British imperial
finance in the Far East.
The New York Background
J. P Morgan the first was helped
by his father in London to get a
start in the banking world in New
York. He was in his early twenties
and just beginning to operate here
when the Civil War began. He did
not join the patriotic youth who car
ried arms in defense Of northern cap
ito1ic1,o q noi,,et tI,o CIo,yo Co,,+l, u
stayed at home to hold the fort in
Wall Street. Two transactions of
those years stand out in the record.
He financed deal in damaged car
bines. Guns condemned by the US.
Army as unsafe for soldiers who might
carry them were purchased from the
government arsenal and sold again
to the army which then placed them
in the hands of the northern SOL
diers. A House of Representatives
committee, later investigating the
graft in Civil War purchases, char
acterized this deal as fraudulent-"an
effort to obtain from the government
some $40, 900 over and above the value
of the property sold" and "a crime
against the public safety"
Also during the Civil War, j. p
Morgan and another smart young
man turned pretty profit of s160,0O0
by specializing in gold and manipu-
lating the foreign exchange rate.
AS years went by such speculative
n ventures gave place to more "sol-
iND dno1it1Oe Tn
ample, j. P. Morgan the elder, would
step into the game after the openly
piratical pioneers had gone through
round of building and wrecking and
cheating. Then J. P. Morgan would
reorganize the roads and get large
profit and a sure return. In displac-
ing the more dashing pioneers, Nor
gan of course had the help of judges
and lawmakers and ingenious lawyers.
At least once--in the 1869 battle
against Jay Gould and Jim Fisk for
control of the Albany and Susque-
hanna-he sent out gun thugs to
fight the Gould Fisk forces and take
physical possession of the property.
Later Morgan passed on from rail-
ROADS to steel, then to locomotives,
farm machinery, electrical manufac-
ture, copper, chemicals. Since the
World War the home domain has
been extended to include autos, radio
broadcasting, electric utilities and re-
tail trade. Latest of all, Morgan in
terests are now moving seriously into
aviation.
In International Banking
But j. P Morgan was always active
in international banking. Before 1870
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30

would be quite useless for France to
attend the conference"
Swiss Gold Standard Shaky
GENEVA, May 9.-Reduction of
federal salaries was blocked by the
electorate in referendum yesterday
by a vote of 483, 165 to 4o8,395. This
result will probably lead to official
departure from the gold standard, and
a policy Of initiation by the govern
ment, to effect the desired wage cuts.
The financial position of the can
tons is very bad. Berne, for exam
pie, has deficit of 100000 Swiss
francs in 5O0,O0O,OO0 franc budget.
The Swiss hotels are empty Of guests,
and the tourist trade is Switzerland's
biggest business The matchmaking
industry is likewise crippled. Many
depositors are removing their money
from Swiss banks to London, in OBJ
vious anticipation Of a Swiss infla-
ton movement.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
Argentina Shops Close
in Sales Tax Protest

BUENOS AIRES, Argentina.-The
government announces that Argen-
tine exports fell 28.7 per cent during
the first four months of 1888.
Shopkeepers have closed the stores
and shops in very many cities and
villages throughout the country in
protest against the new confiscatory
sales tax. Although most of the
stores in Buenos Aires, the capital,
are still open, practically all stores
in Cordoba, Bahia Blanca, and in
fact all outlying centers, remain
closed.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
URGE so. AMERICAN CUSTOMS
UNION

SANTIAGO, Chile, May 29.-The
Association of Retailers and Indus
trial Manufacturers Of Chile, at its
nation wide convention, recommen-
ded customs union for the South
American states. The move has met
with the decided support of the local
press, which also halls the new Chile
Argentina trade truce as step in
the right direction. Such a customs
union would bring measure of eco
nomic peace to the South American
countries, but would intensity trade
war as between the countries in the
proposed union and other economic
regions.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
S p A r K S

ROOSEVELT went fishing with his
IL boy friend Woodin who was dis
covered to be a little Morgan errsnd
boy
What they were fishing for moss
was for some way Of getting out Ca
this most embarrassing situation,
GO far the only Roosevelt who has
y opened his mouth on the Morgan
scandals has been RooSeveltis son,
who made a speech about it in Bos-
ton.
1T isn't Morgan who is to blame.
It is our laws that are 10 blame" said
the young Roosevelt who has recently
been tasting some Of the sweetness
Of being a Presidents son in the form
of various little business deals, etc.
Do you think Morgan will reward
him for that?
THE ScrippS- Howard papers, so lib
eral' and SO treacherous in their
attacks on the working class. have
been swelling with righteous indigna-
ton against Secretary Of the Treasury
Woodin.
But the ScrippS- Howard papers are
utterly and mysteriously silent about
the fact that their own attorney,
Newton D. Baker, is one Of the Nor
gan boys
Naturally, that is different. That's
In the family
ALL of the Morgan boys were fierce
n opponents Of the dole" for work
ers,
But what fat doles they were get
ting from the Big Boss!
AND how grateful they werel 1t is
n said that one Of the most conical
things was the way in which all these
nationwide celebrities crawled on
their bellies and slobbered their graf
itude for being thought Of"
THE Northeastern Methodist Epis-
l copal Church has just adopted a
resolution condemning capitalism as
"unethical and umchristian."
But the pious boys rejected a reso-
luton for the colletiv i've ownership Of
the means of production.
How sincere are these trocked gen
tlsmenl
THEY have the JOB OF appearing
radical before the workers, and
safe before their masters.
HERE is an ad clipped by s. COM
III raoe from Rochester, New York,
which Mrs. Roosevelt won't print in
her magazine Babies, Just Babies" It
is taken from one Of the local news
papers:
AURORA, Ill. May 24-CAP)-For
sale: A three year old baby gin. Her
name is Fairy.
Mrs. Eva Lsino OF Batavia, III,
made the offer publicly when she ap-
psared at a newspaper office with
this advertisement:
"lVill sell one smart and beau
tiful baby girl, three years Old, for
$500 as the last source OF living, or
viii exchange for a few days n week
for its daddy to make a living for
the remaining five in family"
WE took a vacation for two days.
w Did anybody miss US? And our
appetite for contributions is getting
sharp again.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
J. P. Morgan Is Not
the Only Wall Street
Man Who Rewards

Morgan is not the only one who
gives easy profits to U. S. govern
ment officials.
Senator Watson of Indiana has
not denied the charge made
against him that he accepted
block Of 5000 shares of Dahlberg
Corporation, one Of the companies
which is part of the Sugar Trust.
Senator Watson was the leading
fighter in the Senate for a higher
tariff on imported sugar. This
made it possible for the American
Sugar Trust to make more profits
on the sugar 1t grows here. Nat
uraIly, Senator Watson's stock in
creased in value because of this.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
100000 Pesos Back
Pay Owed Cuban Civil
S ervice Employees

HAVANA, Cuba.-When the pres
ent fiscal year ends on June 30, the
Machado government will owe its
civil service employees back salaries
totalling 100000 pesos, or one-fifth
Of the country's total budget.
The government admits that sala-
ries cannot be paid out of taxes this
year, although the government en-
ployees' conditions are truly desper-
ate, since many of them have been
unpaid for the past five or six months
despite a so per cent pay cut.
Tt is interesting to note that the
police and the army are being paid
prompay-an In fun.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
-FOUR POWER
PACT TO BE
INIT TAILED
Ceremony Will Take
Place During Next
2 Days at Rome !

BULLETIN.
ROME, May 29.-The ceremony g.
initiating the Four Power Pact be
tween Italy. France; Germany and
England will take place at the We
nice Palace within the next twenty
four hours.
PARIS, May 29.-It is becoming
more and more likely that France
will accept the Four Power Pact in
the very near future. Premier Dalai
der received assurances today that
England has withdrawn her objec-
lions to reference in the Treaty TO
the penalties under Article 16 of the
League OF Nations Covenant. Dala-
ciar is now waiting for replies from
the Little Entente countries to the
latest French Note, which urges the
view that the pact will in no way
result in deterioration of their POI
siticn. A French cabinet meeting to-
morrow will probably make the de
cis;on to SIGN, and Paul Boncour, the
Foreign Minister is already on his
way to Geneva, where he will wait for
final instructions.
French Position Insecure
The position of the French govern
ment is not as secure as it was few
weeks ago. The nationalist press still
bitterly assailS the pact, and the gov
ernment's financial policy is meeting
with stormy protest. Eight thousand
stores in Paris we're closed in a tax
payers strike together with thous-
ands more in the provinces, to de-
mand that the budget be balanced
and that taxes be reduced.
The strength of the governments
position lies in the nearness of the
London Economic Conference, and in
the tricky nature of the negotiations
now being conducted on the arms
question in Geneva, since the over
throw and reconstruction of the gov
eminent at this time would seriously
weaken Frances voice in these con-
ferences.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30

that return to the gold standard
France is one of the few countries
still on the gold Standard is an es-
sential condition for the e-estabish-
ment Of normal trade conditions. If
this question is not solved before
June IL, when the conference meets,
or unless it is discussed at the con-
ference before any other question, the
experts are of the opinion that "it
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
Argentine and Chile
Sign Trade Treaty

BUENOS AIRES, May 29-Argen-
tina and Chile, signed trade treaty
yesterday which is designed to end
the trade war that has been going
on between these two countries for
almost half a decade. A year ago,
trade between Argentina and Chile
had virtually ceased, and with the
stoppage of Argentine cattle exports,
the TranS-Andine Railroad was
closed. The new treaty is to run for
three wears.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
4 Workers jailed;
Picketed in Chicago
Against Jim CrOwism

CHICAGO, Ill. (By Mail. - Four
workers were arrested for conducting
a picketline against restaurant own
er who Disseminated against Negro
patrons. The League of Struggle for
Negro Rights defended these four
workers at their trial Paul Smith,
young militant Negro worker, was
fined $50, for which he served in the
Bridewell Prison
The L,eNA ti,cQeGh itg attognegs
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
NewHarvard President
POisOnGas inWar

WILLOUGHBY, Ohio.-Dr. James
Bryant Conant, new president of Har-
ward University, did his "bit" during
the world war by manufacturing poi
son gas at factory near Willoughby.
He specialized in Lewisite, a partic-
ularly deadly and painful gas.
The men who worked in the poison
gas plant lived in barracks, surrounded
by barbed-wire fences guarded by
armed sentries. They we're under
oath to say nothing about the factory.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
us. Ban on Gold Denounced as
"Shock to the Capitalist System"
French Threaten Boycott London Economic Conference Unless
Currencies Stabilized Swiss Gold Standard Insecure

LONDON, May 9.-RepercusSions
of the departure of the United States
from the gold standard continue to
be felt here. Under the headline
''Legalizing the Fraud"-the "Finan-
cial News writes: 1.-THE capitalist sys-
tenn has survived many shocks, and
doubtless will survive this one, but a
contract is the whole basis of capt.
aliSm, and the deliberate shattering
of contracts on this scale must leave
its marks on the system. History
yields no evidence that there is any
way of frustrating an embarrassed
and inscriptions sovereign from de-
basing the currency of his subjects
If he really is intent on doing so.
And in the face Of recent events it
would be plainly foolish to count on
any juridical obstacles being able to
impede Roosevelt from carrying
through his modern rendering of the
coin-clippers art"
This plain speaking from the or
gan of English high finance is echoed
by the London Times which de-
scribes Americas action as "repudi-
alton"
The British press in general regards
Roosevelt's move as an act of sabot-
age against the Economic Conference,
and looks to the Conference as the
place where counter moves may be
made.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30
Foreign Briefs

The Czechoslovakian government is
drafting a bill empowering the cabi-
net to proclaim Estate Of emery
ency', to suppress newspapers, censor
the mail and forbid all public meet
ings. This measure is aimed at the
growing Communist movement in
Czechoslovakia, although the bills
sponsors claim that it is intended to
quash the Nazis.
Chinese Textile Mills Shut Down.
More than 800 textile factories in
all parts of China voted to shut
down on May 81. The number of
working days in the factories remain
ing open will be reduced still fur
ther, increasing unemployment ire
mendously.
6900 Tobacco Workers Strike in
Shanghai.
The 5000 workers of the British
American Tobacco Company in
Shanghai, China, have gone on strike
against so per cent cut in wages,
and part-time work. They demand
full employment and full wages. The
workers seized the factory, but were
driven out by the Shanghai police.
Farmers Block Forced Sales in
Norway.
SheTiff's sales of their farms have
raised the indignation of Norwegian
small farmers who are over their
heads in debt to such a pitch that
| they demonstrated against the police
and Sheriffs in several villages in
Norway.
At forced sale in the village of
Mes 400 peasants marched in from
the surrounding countryside, sing
ing the International" when the
police were summoned
In the village of NIika about TOO
peasants massed to prevent the sher-
i'll from auctioning off the posses
sions Of a poor farmer,
Tax Strike of Rumanian Peasants.
The peasants of the village of Cas-
vana, Bukovina, Rumania) unani-
mously decided not to pay taxes.
SheTiffs who tried to collect the taxes
were driven off by force.
The constabulary which came to the
sheriffs' assistance, was disarmed by
the peasants, one constable being
killed and another seriously wounded.
The following day 20 peasant leaders
were arrested by the oC9stabulary.
Gandi Calls Off Campaign.
On the conclusion of his three
week fast, Mahatma Gandhi is plan
ming to call off indefinitely the civil
disobedience campaign against Brit
iSh rule in India. This is a breach
Of Gandhi's own statement, made
when he started fasting that civil
disobedience was to be suspended
solely for the duration Of his fast.
His reported readiness to call off the
campaign for good is linked with the
British insistence on formal repudi-
alton of civil disobedience before
any amnesty for political prisoners
is even considered.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-05-30

have issued q warrant for the res
taurant owners arrest and the trial
will take place on June /, at the
list. Court, Room S05. This is the
first in the campaign in the struggls
led by the League of Struggle for Me-
gro Rights against discrimination Of
the Negroes in Chicago