The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1935-02-06

for the Nation are back at the
needle for more. Now they want to
set up a Central Bank without the
currency Issuing restrictions which
exist at least psychologically for the
Federal Reserve. They want to re-
monetize silver. (The U. s. Treas
ury disclosed that Father Cough
Inns radio league had silver hold
ingS from which they would get d.
rect speculative gains from this).
They want the new Central Bank to
issue legal tender notes" to retire
the United States obligations as
they fall due. This is much more
recklessly inflationary program than
the previous steps.
The Roosevelt government this
week sent Congress a bill to begin
to execute this program. With
characteristic demagogy the govern
ment put it forward as a measure
to strengthen" the Federal Reserve
But even the government influenced
Associated Press described it as a
move toward Central Bank such
as Vanderlip wants.
Seek Veterans Backing
Another strong fascist threat in
all this is that it offers the posi-
bility to the financiers of bribing
a few of the middle-class, veterans
and little business men to rivet them
under the influence Of leaders who
will later serve them up to the
forces of open fascist dictatorship
There are indications that the
financiers have thought of this:
groups backed by such financiers
as Vanderlip and Morgan partner
Stotesbury's step-son, j. H. r. Crom-
we'll, recently joined in a monetary
convention" offering to pay the
soldiers bonus-in currency-but
only as part Of the entire new
Central Bank imitation program by
having the Central Bank issue new
currency to pay the bonus these
financiers could have around ST.
900, 100000 worth of imitation at one
pop. This would be gypping the
veterans in the process of bribing
them, for it would give them money
of less buying power than their adj
justed services call for. But by
paying them cash, it would renew
the confidence of many in theil
reactionary leadership These re-
dictionary leaders of the American
Legion, Veterans of Foreign War;
and Disabled American Veterans
have been listed already by Senator
Thomas as approving Of this
schemesl
Big Farmers, Too
The reactionary leaders of "agri-
culture" the heads Of the old big
farmers "cooperatives," are in on
this scheme too. They would benefit
from it-but not the majority Of
the farm population, the tenant
sharecropper and agricultural la
borers. And the Committee for the
Nation has been aware of this for
long time.
Months ago it sent out an ele-
gantly printed argument for SAY
ing capitalism" by building UP
farmers "a section of them to be
friendly to capitalism. In arguing
for this, the Committee recalled
how the kulaks resisted the VIC
torious Russian workers and work
ing farmers revolution.
Close to Roosevelt
How closely President Roosevelt
is working with this Committee fol
the Nation crowd is strikingly illus
trated in letters sent out from The
latter's swank headquarters at 20s
East And Street.
On last September S, they sent 6
selected group a communication
warning that there is danger thai
the masses will take things int
their own hands," and urging 'im-
mediately broadening the oppor.
tunity for profits" to offset the
peril. In this document, Committed
Chairman James H. Rand, a known
intimate of Roosevelt, boldly stated
When we first began educating
the country to accept the policy Of
revaluetion we were told thai
no leader can go too far ahead o.
his followers; the country must be
educated; don't let up Recently
the message came indirectly to III
again: The need for monetary ed
ucation is still very great"
This direct implication that the
government was willing to go aheac
but waiting for the propaganda
work to be done on the inflationarl
program was followed by a request
that its recipients see that attached
propaganda literature reach 100,.
900 of the nations leaders"
Soon after this, the committe,
sent out letter saying they hae
word direct from the White
House" that President Roosevelt
had read one of their publication:
with much interest"
And within just about month
after the first Sept. communica.
ton, President Roosevelt reaf
firmed his determination to re
store prices" some more! Then the
committee wrote all it's member
and supporters: "If the Presiden
can be supported so that he car
carry through business will be.
come increasingly profitablel"
Then came the monetary con
vention now, the President
Administration proposal for legisla,
| ton.
This is one of the ways fascism-
like warts being made in America
TOm0rrow-The conclusion of
the series on Wall Streets fascist
conspiracy.