The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-08-11

This development, coupled with
another significant fact reported
by the United States Chamber of
Commerce, that unsOld stocks of
goods now total IL per cent higher
than last year, unquestionably
points to new storms of crisis.
The growing poverty Of the
masses" Marx, the root cause of
the crisis, is vividly reflected in
the reports Of the National Indus
trial Conference Board, which
states that distribution and trade
moved generally downward in June,
with retail trade in department and
chain stores declining both in
dollar values and in physical
volume"
The renewed accumulation Of I'M
sold goods and the steady decline
in the amount of goods purchased
by the American masses are but the
two sides of the same development
the intensifcation Of the funda-
mental factor in the world capt.
talist crisis.
And inevitably these signals of
the renewed outbreak Of further
economic crisis are also signals of
maturing political crisis.
ONCE the last week of June the
y weekly index Of business activity
published by Business Week" re-
veals drop of five points, from IS
to 81, the sharpest decline in this
index in the last twelve months.
The progress of this index re-
veals that the war and imitation
program Of the Roosevelt govern
ment succeeded in ncreasing pro-
duction from so, the low point
reached last March, to SO in
December, 1888
Since December, however, all the
efforts of the Roosevelt government
to expand business activity have
failed, and were effective only in
barely maintaining the level
achieved by the enormous artificial
inf1ationary stimulation of 1888,
Today American capitalism has
again reached the point where the
inhationary effects of the 1888
Roosevelt measures are rapidly
wearing off, and the abyss of fur
Their crisis stares it in the face.
HOMRADE STAIN, at the Seven
y teenth Party Congress, pointed
out with the true MarXist-Leninist
keenness that the bourgeoisie of
the biggest imperialist powers had
succeeded in overcoming the lowest
point OF the crisis. And he warned
very realistically that the factor Of
the normal eating away of ac-
curnuIated surplus must not be
overlooked as factor making for
revived production
It is in the light of this insight
Of Comrade Stain that the appear
ance of new SURPRISES of lHlsold
commodities, towering IL per cent
above last year, takes on its real
meaning.
For this proves that the eco
nOn1ic measures Of the govern
ment have failed to solve the
fundamental question of the capt.
talist crisis, the widening gslf be-
tween production and the world
market, and that the temporary
rise from the lowest crisis levels
is rapidly coilapsing.
After twelve months in which the
N. R. A. codes were aimed at
severely restricting monopoly
production of the small business
man, after prolonged, deliberate
attempt to plan" production of the
biggest monopolies in accordance
with the demands of the market,
American imperialism once again
finds itself confronted with the
monster that will destroy 1.-THE
monster of unstable surplus COM
modities in the presence of squalid
poverty.
THUS far, it is true, the biggest
L Wall Street monopolies have
done excellently at the hands of
the Roosevelt government. The
enormous profits reported for the
first quarter, surprising the profits
Of the same period last year, are
themselves being surpassed by the
reports coming in every day for the
second quarter ending June. The
record of 80 large Wall Street
corporations recently reporting their
earnings shows profits AZ per cent
higher than for the first three
months Of this year, Sc per cent
above the first quarter last year,
and most startling of all, 1875 per
cent higher than the highest point
reached in 1888!
Yes, indeed, the biggest Wall
street monopolists are still gather
ing the golden fruits of record
breaking profit which blossomed
under the care of Roosevelt.
But the really significant fact is
that these profits are the result OF
a production boom which is already
passed, the boom which reached its
peak last December. From now on
new and more desperate measures
will have to be taken by Roosevelt
to find new sources of profit fol
his Wall Street masters.
ALL these developments once agair
"A confirm the scientific precision
and correctness of the analysis Of
the Communist International.
1t was the Communist Interna-
tional alone, under the Marxist-
feminist guidance of Stain, which
pierced through the demagogiC
trappings of Roosevelt's NRA. pro-
gram and revealed to the masses