The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1935-02-04
World Front
By HARRY CANNES

- By HARRY CANNES y
LOndOn's He'll Kitchen
They Smell War in the Air
Two Rotten Spots
WORLD schemes cooked up
" in the diplomatic kitchen
at Downing Street, London's
foreign Office, mean no good
to the toiling and colonial
masses of the world. British
imperialism never liked the
Franco-Soviet peace pact. This pact
emphasized the growing rift Of the
capitalist powers, which the Soviet
Union utilized for its peace policy.
Spring Is coming on and with "A
war talk in the Far East. U. S. Sec
rotary of State Hull did his bit by
rejecting the Soviet's offer for debt
negotiations.
British Imperialism, chief orpsns
izer Of the anti-Soviet front, was
concerned about the Franco-Ger-
man conflicts, Hitler had armed
Germany to the teeth. The French
rulers feared German fascisrn's
huge armies, the poison gas stores.
the feverish armament manufac-
ture, the rapid increase of the air
forces. Hence the support to the
Soviet peace policy and the Eastern
Locarno pact.
DREMIER Pierre Etienne F1andin
and Pierre Laval, Foreign Min
lister of France, are now in London,
talking matters over with Ramsey
Macdonald, Stanley Baldwin and
Captain Anthony Eden.
1t is reported a four point agree
ment has been reached. This will
be put up to Hitler.
The agreement is definite effort
to bring a strain on FTanco-Soviet
relations. Germany is now offered
armament restrictions. This Is then
covered up by the usual tripe about
"a general convention for the limi-
tation Of ornaments" France is Of
fered removal of German fortiflca-
lions on the Rhine along the
French border. A few pious words
are uttered in support of the East
ern Locarno pact, for security and
non aggression and maintenance
of present boundaries, to cover up
the main purpose of the proposed
agreement" Lastly, Germany is
invited to return to the League Of
Nations.
BRITISH imperialism has its ex-
~ perienced eye on the Far East,
where the war danger is now the
greatest. They want to pave the way
for support to Hitler in his pledged
assistance to Japan in the event
of war against the Soviet Union.
Hence the bait thrown to France
and Germany.
TWO very bad rotten spots have
1 developed on the world apple Of
recovery" that has been dished up
during the past year. One is the
crash of the huge grain concern,
Strauss & Co., London. The other
is the series of crashes of Chinese
banks. The London smash-up OF
$50 rs A. trIo{rr 6x,aS rr.ai,, oO,o1a1.Y1a
is reported as the worst business
failure in London since the Hattry
collapse in 1929. That was followed
at the time by a deeper plunge Of
the economic crisis. The present
losses are well over 5000, 00o Way
off in India one of the officials Of
Strauss & Co. committed suicide.
The situation in China is much
worse. RooSevelt's silver policy.
while raising prices for the silver
spectators, brought havoc to the
Chinese masses The high price OF
silver is draining the country Of
silver, the chief money commodity
of China, making it almost impos-
sible for the starving peasants, and
the small business men to get any
loans. Usury rates have gone up
tremendously. In Shanghai, for in
stance, interest rates are up to the
unprecedented figure of 20 to 80
per cent. In the interior OF China
they were always higher, and are
now around 100 per cent, or more.
1T is New Years in China now.
l traditional debt settlement date.
The heavy call for funds has forced
banks to close. They do not have
the silver to pay.
An example of the stringency Of
the silver situation can be CLEANED
from figures on silver holdings in
Shanghai. Handy & Hartman, sil-
yer brokers, report that the hold
ings in Shanghai were Isl ,546, 900
ounces at the first of the year. A
little more than six months ago
they we're 449,840,0Oo. In other
words, in this short period 40 per
cent of the silver has been shipped
out! And that despite the stringent
laws against it.
The full effect of this situation
will not be felt until the planting
season. Then the starvation, usury
burdens and misery of the peasants
and workers will fully ripen.
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