The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-01-17
Initiation Hunger War

proposed monetary and gold laws, re-
veals that from the policy of infationary
sniping the Wall Street government now
resorts to the use of the heaviest artillery
against the tOiling masses through drastic,
direct imitation.
Stripped of its high-sounding theo-
retical verbiage the Roosevelt proposal sig
nifies the government Capitalization of gold
control in the interest of finance capital, in
ternally for attack on the American work
ers, farmers and petty-bourgeoisi and in
ternationally for the most virulent economic
warfare
Roosevelt takes over control of the coun-
try's gold reserves. He DEGREES that here
after the masses shall be paid in paper
money with reduced purchasing power for
their work.
He Immediately sets the value of the
dollar at from so to 60 per cent of its nor
NAL gold value, thereby decreeing ma
tional wage cut for all workers in the most
brutal and direct form. The actual result
will be pauperization of tens of millions,
the establishment of coolie standards for
the American workers
To anesthetize the masses, to soften the
impact of the terrific blow, Roosevelt de-
clares that this is means of stabilizing the
dollar, of establishing Sound currency"
Every step of his infationary program
has been paved with lying promises, with
damagogy, deceit and swindle.
The Herald Tribune, a foremost Wall
Street spokesman, declares that while
Roosevelt tactfully closes the front door to
imitation which would reduce the value of
the dollar to zero, he "leaves the back door,
wide open to an endless barrage of initiation
THAT it will stir to the highest pitch the
4 most gigantic financial and economic
war among the imperialist giants, leading
to the imminent danger of a new world
slaughter for markets, for colonies, for i'm
perialiSt domination, is admitted indirectly
by the capitalists themselves, and is shown
directly by the facts
On the Uery day that Roosevelt sent
his gold message to Congress. the stock
- market began to plunge into speculation
in Gsgr industries. Anticipating the StiRsE-
tation of lUar production, stocks of the
steel, chemical. motor railroad and utH-
nteS shot upJgards to an increase of as
high as So a share.
Al the same time, prices of all basic
commodities, Whent, cotton, rubber,
rushed upwards, fOrecasting an in,nte-
diate rise in the retail prices the workers
UiU hare to pau for all the necessities of
life
The foremost conflict of the imperial
lists, that between the United States and
Great Britain for world hegemony, has
fiared up as never before.
The New York Times on January 1G de-
clared:
"T'he possibility of conflict between the
operations of the neJU So, 900, 900 900 stab
HizatiOn fund of the United States and
Great BTitaiH's Equalization Fund Oc-
Cured at once to foreign exchange dealers.
WITH such large sums at the disposal of
the tU0 countries, gigantic currency
War might arise if policies of the funds
come into conflict"
Behind this monetary war; behind this
furious war for world markets, with a
money weapon second to none, we have the
stark fact that the United States is build
ing navy second to none"
While Roosevelt speeds ahead with inf1a-
tion, the N.R.A. codes are designed to hold
wages down in an iron vice The National
Labor Board, with its lackey assistants on
the A. F. of L. bureaucracy, mobilize their
forces to smash strikes
The rise in prices will rapidly slash real
wages. The process that was begun with
the passing of the N.RA will now take on
the speed of an express train.
The Daily Worker, through its Washing
ton Bureau, has already published the facts
brought out at General Johnson's hearings
on prices, showing that prices hare risen
from ~ to $50 per cent on UGri0us COM
modities under the N.R.A.
DR.. Edward S. Mead, professor of fl
nance of the University of Pennsylvania,
commenting on Roosevelts direct initiation
drive, referring to wages, said:
Real wdges - the purchasing pOper
of ntoney IUages-ICiU fall if retail prices
rise. Minimum, LCdges fixed By the codes
lcH assist the employer in holding money
lCdges d0Wn TO present IeUeIs."
The workers will be held to the iron
anvil of the N. R. A., while the Roosevelt
regime whacks at them with his powerful
hammer of gold.