The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-01-06

'ment finances.
It had an instantaneous Ell
feet on the value of the dollar.
lowering it to an extent which Will
Immediately be reflected in the Ky.
rocketting prices for the masses ib.t
necessities Of life. me -.
A panic on the government u,;;j
market was barely averted, whoaeses
government rushed in to prop lfor 81
tottering federal bond issues. 'atari
crash in bonds rejected the und,
mining OF government financial ste
bility and the rush Of investors to
unload their government paper.
Not only does the budget itself
provide big sums for war, but its
whole Misunderstanding directly TO-
wards imitation, towards huge sub
sides for banks and war industries.
towards sharper conflicts between the
United States and Britain, as well
as France and Japen-speeds the
whole movement towards war as
capitalist way out of the crisis.
Linked with n. X. A.
The whole nature Of the budget
shows it Is organically linked up with
the N +. a., and all of Rooseveit's
other projects to help the big COR
porations at the expense of the toll.
ing farming and city masses. as well
as at the cost Of the petty bourgeolsie
In this crushing budget, the Rocse-
velt regime has two ends in vieY:
the undermining of the workers Iiv-
ing conditions Through imitation ana
heavier taxation) and the smashirr
OF the workers organization and then.
struggles Of resistance to the fero-
cious attack envisaged in this infia-
tion-var program.
Comments from various national
and international capitalist sources
clearly indicate that the budget il
self Is a rapid thrust towards infia-
ton.
R.F.C. $4,000, 100000 Present
Particularly astounding in the bud.
get, even to capitalists who them
selves share in the spoilS, is the huge
sum Of $4,000, 000, 900 which is handed
to the big corporations and banks
through the Reconstruction Finance
Corporation.
All capitalist newspapers ASA but
do not answer the questions: Where
Will the money come fron7 who
will pay7"
Tho hI,e,a 1ooG 20 an am 49, 49,.
debt 10 be acquired during the next
six months will be hurled at the head
OF the entire working class. The
tremendous slashing of living stand
ards achieved for the bosses BY the
MIRA viii be greatly intensified tS
this new imitation thrust.
War financing methods are to he
used In an effort to raise the $1,000
0O0,o budget, according to the latest
statements Of treasury officials. Pa
triottc campaigns similar to Liberty
Loan" drives will be inaugurated, The
government will Issue all sorts Of
paper (bonds, notes, treasury car.
tificates, short term loans, long term
losns) IN order to raise the money.
The Washington correspondent Of
the New York Sun relates that Roose-
welt could not make clear to the cap
italist reporters how he will be able
TO hand to the big corporations and
banks the $4,000 100000 In the sur
prtsingly short time set in the budget.
Even II he heaps the money into
Their treasury by the shoyels-fuu, Il
VIII be difficult to get nd OF 1t in
the specified time.
Exceeds War Time Debt
The colossal debt OF $32, 900 600 0oo
which is piled, exceeds the highest
wartime total by four to five bill
tCoutansed on page u "a
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"6uwipan&~ q AGRICULTURAL Rpo6w "A !.