The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-01-10

$4,000 have been given jobs through
the P. w. A. war building.
The next item in the emergency
budget is C. G. c. camps-s342, O00, 600.
Even the Secretary Of War has ad-
mitted that these camps are part Of
the Army training ground for the
coming war. Thousands OF jobless
youth are herded into these isolated
camps under the military command
Of Army officers, in the name Of "re-
lief to the jobless youth"
R. F. C. Billions For Wall St.
Then we come to the most stag
gering appropriation of all in the
next year emergency" budget of
Roosevelt, the 1870, 100000 to be
handed out to the R. F. c. This
will make the total expenditures of
the R. F. @. since its birth last year
to about $4,000 ,000,O00l
A leading Wall Street paper Won
dered yesterday how Roosevelt was
going to spend all the six billion he
wants for the next six months and
1t hit upon the answer-the r. F. c.!
Is there a worker in America who
has not been following the endless
stream Of money that has been pour
ing from the R. F. c. into the banks,
railroads, trust companies, mortgage
companies, etc?
The R. F. c., ballyhooed as an in
strument for recovery" it is now
clear lis the agency whereby the Wall
Street clique Of finance capital is
using the capitalist State to shield
1t from the blows of the crisis, to
guarantee its profits and investments.
And Roosevelt wants to give it an
other four billion within the next
fiscal year! For what?
For loans to bankrupt banks
Sl,S50,0O0,000 already handed out.
Fer direct subsidies to stockholders
Of bankrupt and weakened banks
through purchases of preferred
stOck-S823, 100000 already author
lied, and another billion on the
way! For huge loans to railroads.
almost billion dollars so that they
can pay off fixed charges" in
terest payments to bOndhOlders!
For mortgage holders who cannot
collect on their mortgages, and who
desire to exchange their worthless
mortgages fer guaranteed U. S.
Government bonds!
-Four billion through the r. F. G.
to protect profits and investors!
Four billion more to guarantee the
farm and home loan mortgages,
through guaranteed U. S. Govern
ment bondsl
Here is the capitalist pIundenng
reality behind the Roosevelt "emerg-
ency' budget-war building and sub
sides to Wall Street monopoly! To
make the masses carry the load of
the crisis To shift the losses of
monopoly capital on to the backs
OF the workers and impoverished
farmers through government 'loans"
to be paid for by wringing crushing
taxes from the masses, by driving
down the working class portion of
the total national income through
wage slaShes and the infationary
price scissors!
The entire Roosevelt budget is
PANS gnu pAANCA VI bAtC 0TINE
of the Roosevelt government - to
get the Wall Street capitalists out
of the crisis through protection Of
profits and--imperialist wari The
loans to the railroads for "equip-
ment," the maintenance OF bank
rupt industry. the rapid Improve
ment OF the harborS and BRIDGES"
the military training in the C. c.
Q. camps, the military construction
Of the p. w. A. and C. w. A., the
tightening Of the grip of Wall
Street monopoly on agriculture
through the A. A. A., the tireIess
zeal to shield the profits of the
Wall Street mOnopolies, and the
gigantic war building program are
mart Of the Roosevelt organization
for the coming iinDerialist war
They are part and parcel of the
whole New Deal-N. r. A. program
for the beating down of the masses
and the aggressive expansion for
markets.
1t is a sinister fact that Roosevelt
in his new budget proposes to spend
sixteen billion dol1rs in the next 70
months, rate that exceeds the 1917
war spending, by four billion dollarsl
What is the Relation of the Budget
To the Crisis?
How is the money going to be
raisedP What will 1t mean to the
Government credit? To the work
ers wages? Taxes? How will IL
affect the jobleSs2 What must we
DO to fight this hunger-war budget?
Ito be concluded tomorrow