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

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ton of France and Germany have
gone off the gold standard, and are
competing with each other in a race
to depreciate their Currencies. Tariff
barriers have never been so high,
and they are today reinforced by
such devices as special anti-dumping
laws. quota laws, partial or complete
embargos, and surtaXes directed
against imports from countries that
have cheapened their money. Foaty-
five million workers are unemployed
throughout the capitalist world. Yet
in spite of this, in every country
there exist huge piled up stocks OF
commodities, especially of raw pro-
ducts and food-stufs, which are de-
scribed as unsaleable surpluseS. Agri-
culture, in every capitalist country
is in state of bankruptcy. Indus
trial plants are doing well if they
can operate on fifty per cent ca
pscity basis. The financial crisis has
brought down countless banks in ruin
/. FINALLY, this general picture contrasts
with that in the Soviet Union, where
we find new victories for collective
agriculture, new advances in Social
tst industrial construction, and no
unemployment
The London Conference Against the
U.S.S.R.
So world capitalism is meeting in
conference in London Is it meet
ing in order to contrive a solution
to the problems that confront it? Is
it even capable of doing such thing?
OF course not. 1t is meeting in order
more efficiently to carry on its main
fight against the socialist economy
of the Soviet Union, and to carry on
the internal struggles between the
national capitalisms that exist with
in world capitalism.
Any hope, among the capitalists
themselves, of finding solution
to the crisis, does not exist, even to-
day. two weeks before the conference
begins. CordeH Hull, leader Of the
American delegation. said yesterday
that he expected broad agreements
in principle rather than specific
treaties" to come out of the confer
enee. French official circles have
been more outspokenly pessimistic. LIE
Temps wrote yesterday that There
is nothing that permits the belief
that the war debts question will be
solved in good time" Unless cur
rency sterilization is first achieved
BY England and the United States
the French have expressed the view
that it would be waste of time for
them to send delegation to London
At all
Some idea of what the capitalist
powers do expect to arise out Of the
conference may be gathered from re-
cent speeches, such as Neville Cham
berlains speech before the English
House of Commons on Saturday
Chamberlain, who is the Chancellor
Of the Eixchequer and who speaks
with the full authority of the Eng
lsh cabinet called for an economic
Holy War" on the Soviet Union
Referring to the trial of the British
engineers, and to the anti Soviet en-
barge put into force by the English
government, he threatened the Wag-
ing of "nnfiinching economic war"
Apart from the basic conflict be-
tween the socialist and capitalist
economic areas of the world. which
constitutes the strongest bond be-
tween the capitalist powers, conflicts
are also furiously raging between the
capitalists themselves.
Anglo American Antagonisms
Hull, on his way across the Atlantic
spoke of the bitter economic war
fare" that exists today. Chamberlain
was threatening economic war rot
only against the Soviet Union but
also against the capitalist rivals OF
British imperialism, of which the
most important is without doubt the
United States The French news
papers have made repeated references
to the struggle between the pound
and the dollar" which as they say
is rendering the conference impotant
even before it meets.
Trade War Preparations
The preparations for the confer
snce resemble nothing 50 much as the
preparations for major war Amer
ies's aggressive move against England
in leaving the gold standard, was
Immediately answered by Great
Britain with retalistory currency and
trade measures. Roosevelts tariff
truce, designed TO forestall any econ
omic action on the part OF the rivals
of American imperialism did not have
the desired effect. On the contrary
the signing Of the tariff truce turned
cut to be the signing Of a declaration
of trade war, as is shown by the
innumerable separate economic treat
les recently signed by the powers in
preparation for the World Economic
Conference.
England already is saying that il
no general agreement will be found
possible by the London conference
then all the same some agreement will
be discoverable for the British En-
pire group and its "affiliates" such as
Argentina Portugal, Scandinavia
etc
America already is saying that she
is taking two schemes with her TO
London, one a scheme for general
imitation. for the acceptance by the
world Of cheap American dollar.
for the withdrawal Of quota laws
gsmst American exports and for a
podcy Of American capital export
This Is the scheme she will present
II the conference but she will also
Aals with. hsr az = thraat an alter