The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-06-24

lessly follow its policy Of high preda-
tory prices for consumers in the
United States in order to maintain
dumping prices" abroad. 1t means
an aggravated trade war on world
scale.
ROOsevelt's internal" Program
The American delegation INDUCES
in much talk about the Roosevelt adj
ministration being concerned with
raising prices at home before there
can be any talk of pegging currency
on a world scale. This is seen as
only a move to place greater power
in the hands of monopolies, enabling
the big bankers who dominate eco
nomic life to charge high prices to
consumers and at the same time beat
down prices paid to those who have
to sell their products to the mono
polists.
The Internal program is not
something separate from the gen.
eral world policy Of American i'm
perialiSm. 1t is a part Of the whole
offensive to grab a greater share of
the world markets from rival powers.
Macdonald Sees Worse Conditions
j. Ramsey Macdonald, British
prime minister and president of the
conference, said that the action of
the United States delegation would
not lead to trade war. That state
ment is regarded as certain evidence
that trade war is already on the
order Of the day and that MacDo Donald
is merely trying to cover up the
fact
He said there was no use adjourn
ing the conference until Autumn.
Such suggestions, he said, were
foolish" because the chances are e91s
per cent that conditions then would
be far worse than now.
A Confession of Bankruptcy
Since the conference was called for
the avowed purpose of trying to find
some solution that would improve
conditions, the statement of Mac
Donald that conditions will probably
be worse in Autumn is an admission
that he realizes the bankruptcy of
the conference.
The conference will not adjourn
Immediately, however, because the
presence in London of delegations
from various countries furnishes bet
ter opportunities for plots and coun-
ter-plots than through the ordinary
diplomatic channels maintained here.
Macdonald and the British delega-
ton and the Dominion representa-
tives do not attempt to conceal their
displeasure at the aggressive fight the
United States is making to kill all
the trade advantages gained by
Britain when it went off the gold
standard in 1881. They all know 1t
means war to the limit for markets
and it is expected that steps will be
taken to retaliate.
French Furious at U. S. Action
With such fight unavoidable the
statesmen are gravely concerned
about the political consequences of a
further general drive to cut down the
costs of production which means a
higher stage of the offensive against
the conditions of life of the toiling
masses everywhere in the capitalist
world. Such an offensive will meet
with increasing resistance on the
part of the working class and the
colonial and semi-colonial masses.
The French delegation, through
finance minister Georges Bonett and
the Netherlands premier, Hendryk
Collin, gold standard countries were
gloomy over the tction of the U. S.
delegation. They realize that they
will be forced off the gold standard
before such a trade war has pro-
ceeded very far. At the same time
they holly deny reports that they
contemplate immediate abandonment
Of the g..1 Standard.
The conference has adjourned until
Monday and the various delegations
are meeting to try to devise a way to
keep up pretense Of life at least
until Professor Moley, personal repre-
sentative Of Roosevelt arrives early in
the week.