The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1935-02-23
World Front
BY HARRY CANNES

Hearst on British Recovery"
The Lira Slips
More Serious Than Reported"
WILLIAM RANDOLPH
- HEARST often gauges
his propaganda to his own be-
lief that his readers are fools
or idiots. On Friday, for ex-
ample, he prints very promi-
nently, an editorial by Robert
H. Hemphill, described as afnsn-
cial authority" wherein he speaks
of "the secret of England's rapid
recovery"
For the past week the entire capl-
talist press has been filled with
news which faotually proves British
capitalism is on the economic toboe-
gan. To Hearst an increase of the
unemployed by 100000 in one month
may be considered recovery" lust
as a 100 per cent rise in food pro-
duction in the Soviet Union is con-
sidered scarcity"
A few days ago we quoted the
statement of Sir William Beveridge.
economic authority in the London
School of Economics, in which he
showed the highest point of British
recovery" that Hearst crows about
was II per cent below the 1922 level
At that time we pointed to the fact
that this confirmed Comrade Stains
estimate of the special nature of
the depression. We said Comrade
Stain made this estimate six
months ago, when in reality it was
over a year ago.
On the very day Hearst boasted
about British recovery" as an ex-
ample for the American bosses, the
British press headlined the COLLAPSE
Of Francis Wiley & Co., the LARGEST
wool dealers in the world. At the
head of this company is Lord
Barnby, of the Federation of British
industries, recently returned from
a trip to ManchUkuo. The Wool
Lord urged British cooperation with
Japan in Manchuria, thereby in
spring Japan's war plans against
the Soviet Union. The Lord re-
turned home to find his wooden
firm sprawled beneath his feet.
THE wool collapse is but one of a
4 series In tin, peanuts. sllellac
and wheat. What is more, the lead
ing London banks are involved, and
there isn't the slightest doubt that
new downward plunge in the
British crisis is on the way.
Britain and America are not ex-
ceptional in this respect, as Is the
won't Of Lovestone to say. In Italy
the financial situation is becoming
openly desperate. The Ira has ac-
tually plunged off the gold standard.
Mussolini has not only stopped the
outgo of foreign exchange and Sc
curities in Italy, but as we'll the
income Of foreign commodities.
At the French border, all freight
trains are stopped. The Ira is
dropping on the foreign exchange
markets. Here the basic cause is
quite involved First the crisis of
Italian fascism drives it to war
moves against Abyssinia. The cost
of the Abyssinian war maneuvers
intensifies the financial crisis.
THE same situation is driving Hit
Ter to war against the Soviet
Union. Unemployment is growing
by leaps and bounds in fascist Ger
many. The banks are top-heavy
with Nazi paper. Banks have
been SO loaded recently" writes the
New York Times correspondent,
with short term government obi
cations, that they were in danger
of being unable to finance ordinary
private business, unless the Reichs-
bank INDUCES in inf1ationary meas
ures."
So far has the financial crisis
progressed in Germany, that Hitler
will not even make the next budget
public.
If the United States is sitting on
a volcano of internal class struggle,
the fascist lands are already sliding
down the lava of smoulderink
eruption.
IN JUGOSLAv1A, the mass dis
\ content has broken out into open
struggle. Thirteen peasants have
already been slaughtered. Veba
Popovich, Minister of the Interior,
blames extremist propaganda" But
again the New York Times CORE
spondent sees the situation as more
serious To quote him: your cor
respondent learns that the riots were
far more serious than was reported
officially. More than 1900 peasants
At times on Tuesday
and yesterday local authorities were
in danger of falling into the hands
OF the rioters. Excitement is run
ming high, with the possibility of
renewal of trouble by the peasants.
who have been greatly aroused by
the bloodshed"
This is Hearst's idea of British
and European recovery.
No one can deny Hearst's loyalty
to fascism. SO far as fascism is
concerned Hearst's orders of tie
Spanish American war still hold.
"Ynll nai1lt the mixtures Ill r,,aka