The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-05-15
Who Will Get The Silver
Dollars!

EARLY this week Roosevelt will get
IL draft of the new "Silver Bill which has
been worked out by the Treasury and the
"silver bloc" in Congress. The whole sub
ject of silver has become prominent in the
capitalist press.
This new silver legislation can only mean
further slashes in the buying power OF the vast
majority of the working class and impoverished
farm population
The silver plans of Roosevelt and the Congress-
men are supposed to be in the interest Of the
little man" the small farmer, etc.
This is an illusion The effect of the Roosevelt
silver plans will be only to give some quick easy
profits to the handful of silver spectators, Wall
Street stockholders of silver mines and Wall Street
banks and brokerage houses who have stocked up
on silver The very holy Father Coughlin will make
nice easy profit of about quarter of million
dollars soon as Roosevelt signs the silver pact
But the millions who listen to this silver-tongued
faker will only get it in the neck
DOOSEVELTS plan is as follows: he will buy up
~ all the silver from the spectators at so cents
This will cost the government S125 900
and will have to come eventually from the masses
in taxes or some other way. Against this silver
$125,000000 of paper money will be issued Then
Roosevelt will be authorized to buy silver in foreign
markets until the ratio of silver to gold as backing
for the paper money of the country will be at
ratio of $75 Of gold and $25 of silver for every
500 of paper money. This will mean an additional
cost of $3.50 100000 with the issuance of $3.50 900
more paper money.
In other words RoOsevelts silver plan is an
other step the road of imitation This is the
road that has already cheapened the dollar to
so per cent of its former value. This is the road
that has Shrunk every pay envelope in the country
to close to half of what it was before 1929
BY the silver plan, of the rich cotton
plantation owners may temporary" sell more cotton
abroad-at the expense of lower wages to their
choppers. Prices will rise some more.
The silver plan Is supposed to give the small
farmer, the Masses money. But how will
the small, impoverished farmer get hold of any
of this new money? Where will he get it? Most
OF 1t will go to the very people who
have too much already to the Wall Street specu-
lators, to the rich landlords to the big farm
corporations.
And even if the little man" gets some Of this
new silver money it will be shrinking in value
faster than he gets It, as result OF swiftly rising
prices
The working class, the laboring farm popuIa-
ton, must get together to fight this new silver
plan. They should fight it by demanding increases
in wages to meet the higher costs of living. They
should demand adequate cash relief for unempoy-
ment insurance, union wages on all government
work relief projects. They should fight for can
collation. of all mortgage debts which weigh the
impoverished farmer down. Not profits for the
silver SPECTATORS the handful of rich land
lords and cotton planters, but relief and security
for the majority of the toiling population, the
workers and farmers! That Is our answer to the
Roosevelt silver imitation.