The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1933-12-04

RECOVERY" He SAID. But FOB WHOM7
Today, buried away in the Torbidding, expensive
pages OF powerful Wall Street organ. the Commercial
and Financial Chronicle, the answer Is given.
In ten short lines Of statistics specially compiled
for the eyes of the upper class not intended for the
eyes OF the workers is the extraordinary damnable
answer, the ruling class answer.
For the first nine months OF this year, the net
profits of ASS OF the largest monopoly corporations
leaped if galvanized by electric shock from
SS7OOOoOO last year to SS7SSO2O 600 this year!
of AS per cent In profits during the last
nine mOnths
That's what the Roosevelt NRA has accomplished
for the biggest wall Street monopoly companies.
That's the main purpose it was intended tor--to
load huge profits into the laps Of the Wall Street
monopolies. That purpose 1t has accomplished.
out OF whose hide were these profits chiseled? out
Of the hides of the workers and ruined farmers.
The NRA codes were the machinery by which the
employers were able to sweat profits out of the
toiling masses than ever before.
Through speed-up, through wage cuts masked
under the polite Of minimum wage" through
intensified robbery.
And even more, through the Roosevelt lacking
up Of the prices of sII manufactured goods to sky
high levels
The MA sent food up 25 per cent in six months
Clothing went even higher The farmers had to re-
OuCc oClSaSes a1lu pay
shirt, or new part for their tractors, for
supply OF fertilizer.
The way the Roosevelt program has worked so as
to monopoies bigger profits is clearly seen in the auto
and railroad industry, for example.
IN THE AUTO industry, production during the sum
squirt increased ten times as fast as employment
increased in the auto factor1esl
In the railroad industry, the Roosevelt program as
worked out through its railroad co-orinator Eastman
has permitted the roads to show huge increases in
profits in the face Of declining traffic by keeping the
number of railroad employees down to a minimum OF
one million less and through the destruction
OF many OF the working rules wrested from the rail-
road magnates through long struggle.
More production per worKerl That explains just
how the 453 biggest Wall Street corporations able
in the last nine months to hack out Of the hides of the
toing population the huge $50 per cent increase in
profit The Roosevelt N-RA. did it for them.
Meanwhile, the real wages of the millions OF Amer
lean workers driven down below the March level
OF Hoover. Even the latest report Of the A. F. of L.
admits that II proves that the REAL income Of the
American is At least LIZ per cent lower than
It was in March. when Roosevelt elected by the
for his promises Of recovery Actually the cut
in real wages was much greater amounting 20 ten per
cent
The effect Of this Roosevelt slash on the income OF
the masses is startlingly revealed by tbs figures on
Saving Banks Accounts made public two days ago in
the Journal of the American Bankers Association
These show that within twelve months there has been
drop of over TWO BILLION dollars in savings &C.
counts. The rising cost of living wipes out even the
workers neagre savings
Before Roosevelt came in the average saysnss &C.
count was figured at 1896. Now II is $685.
And at that less than person in three has any
account at all.
NOW the Roosevelt government faces q government
~ debt OF $2S 100000 It's all in government bonds
And the Wall Street banks. insurance companies in
Vestment trusts, by far the greatest part of these
government debts"
Who got al this tremendous fortune that the gov
eminent borrowed? Over IS per cent OF went for war
preparations and In enormous subsidies to Wall Street
banks, monopoies, etc-to the very same CORPORA
lions who are now reporting these tremendous profits
Let every worker and small farmer ponder ON this
Fact that within the last SIX months Roosevelt has
handed out through the n. r. A. over Sill 900 900
In subsidies to Wall Street railroads banks and
monopoly industries.
The present Roosevelt Chairman of the RFC
Jesse H Jones, got $63 100000 for his own little
bank in Oklahoma. Just like Dawes got $s5 900 900
for his bank in Chicago under Hoover.
These subsidies to the Wall Street monopolies were
supposed to provide new Jobs for the jobless and
raise wages for the employed.
The actual result has been the opposite Tn.
hinge subsidies have stayed at the top where they
we're intended to stay TO interest bonds rents
fixed charges, and dividends TO Wan Street.
WHo Will pay for these huge Roosevelt subsidies te
Wall Street through the RIG. and the NRAf
1t must eventually out Of the masses in
TAXES That explains why Roosevelt EXTENDED the
Hoover excise taxes that take eooooooOo out of the
poorest section Of the population every year.
To pay for these subsidies Roosevelt through the
processing taxes has already levied an indirect SALES
TAX Of over two billion dollars on the consumins
masses ~
Meanwhile the 100000 jobless have not been able
to get one cent Of Unemployment Insurance for them
selves and their families Roosevelt gives eleven Bill
LION to the Wall Street monopolies who in turn in
crease their profits 425 per But he denies assr
ance to the starving obess because he says the bulge
Under Roosevelt, the RIG. hands out $40 to the
/ bankers for every 81 for relief
And even the sS,3o000o0oo Public Works Fund
which was to provide jobs and give wages to the
100000 jobless, has been over IS per cent spent
already to not more than $4,000 Jobs resulting and
With starvation wages on the jobl