The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-10-31

its foremost imperialist worll
rival, Great Britain.
Relentlessly, it hammered
away at the pound and thu
French franc. -
1t seems inevitable that It viii soor
drive France OF the gold standarC
The two imperialist giants Of IT,.
world, Great Britain and tho Unit
States, are coming to closer grips ~
their life and death struggle for thc
financial domination of the capitals
world markets.
And 1t is an axiom of history, tia
financial economic warfare 500
reaches q point where 1t explode
into the deadly combat Of militarg
warfare.
Drives Dollar Down
Dismayed at the failure Of an tn
domestic purchases Of gold TO pro-
the topheavy structure OF artificial
doomed commodity prices, RooSeve,
smashed his way toward the crippln
Of any European domination Of til
world markets by shooting thc
United States bid upward to the rec
ord price OF s3196 an ounce.
This drove the dollar down pre-
cipitately to below so cents In value
1t is now worth less than 90 cent
This means that the Roosevelt in
fiationary drive Is slicing the dollars
of the American workers wages into
pennies.
And It Is with the advantage Of
cheapened wages that American
Imperialism, with Roosevelt at the
head, drives ahead In the snarling
fight with Its imperiaiist rivals for
foreign markets
Britain Prepares Reply
The fight for financial leadership
in the imperialist struggle for mar
kets is on.
The Roosevelt government Is ham
mering at the French franc. Former
Premier Tardieu today called for al
embargo on all shipments OF French
gold, in an effort to stem the drain
Of the Roosevelt aggressive buying
program. This Is the first step to-
wards leaving the gold standard.
In Britain, the leading bankers do
not trouble to mince words They
threaten quick reprisals. They have
already begun. Yesterday they lacked
up the London price to sSl.4o ar
ounce.
But this is still Al cents below the
Roosevelt price.
British imperialism will have 10
reply again with more aggressive
blows. And American imperialism
will reply in turn.
NRA Has Failed
Roosevelt tries TO comfort himself
that he will be able to manage"
this imitation.
But the very desperateness Of his
lunges in the direction Of the Euro
pean imperialist rivals Of the United
States bellies his hope,
Precisely as the Daily Worker has
been pointing out ever since March,
the attempt to bring life into Amer
lean industry by infiationary shots,
must inevitably necessitate not only
an increased frequency OF the doses.
but also q steady increase in their
strength.
It Is Of the utmost significance,
and In complete confirmation Of the
Daily Worker analysis, that the re-
cent doses of Roosevelt initiation have
not had the same upward response
from the commodity markets as the
early shots in May and June.
1t Is the failure Of AL the RoOse-
welt imitation mp to now to pump
any life into the lettering body sf
American industry, the failure u
the NRA to solve the crisis, and
the quickly spread awareness that
II has, on the contrary, intensified
the crisis, that forces the Ameri-
can capitalist class on the road a
Wild currency imitation In an effort
to get out of the crisis.
The two leading nnperialist rivals
Of the world-Great Britain and the
United States, face inevitable fur
Their intensification in the crisis Of
their home economy.
In desperation, American capi-
sdIoiu tuTnS us gaze OutWdfu. ~
begins to dream Of solving the crisis
by getting its teeth into the mar.
kets and colonies Of its rivals
American industry, artiflcially aid
ed by the effect of the cheapened
dollar in the European markets,
presses eagerly and aggressively for
ward to get its teeth into whatever
drained markets remain after the
relentless gatherings of four years Of
world capitalist crisis.
Initiation Will Fail
But the Roosevelt imitation b
doomed to failure as an economic
solution of the crisis.
Trapped in hopeless capitalist con-
tradictions, the Roosevelt government,
through imitation, only succeeds In
driving down still further the buying
power OF the masses. 1t succeeds
only in piling up more surplus"
II Is Of the gravest importance 70
remember that the infiationarv
drive Of American imperiaIss
It's last stand In Its efforts
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