Evening star., 1945-08-13

on the other, 1t encourages British
capitalism to use panic and crisis as
methods whereby Socialist govern
ment with majority can be pre-
vented from fulfilling its program
before it has time to weaken the in
nuence Of big business on American
economic life.
That this is an accurate diagnosis
is revealed by a note in the London
Times Of August 8, which points out
that when lend-lease ceases at some
stage after the defeat of Japan,
Britain will have need for a loan
from the United States which it
cannot be expected to grant it for
social experiments while it is not
sure OF our financial stability.
This is really to say that no
country looking for United States
aid in recovery from the war can
go Socialist by peaceful means ex-
cept with Neutrality-suspicious., and
American permission will not be
given. II this is meant, and I do
not see what else it can mean, all
national states except the Soviet
Union must now either accept a
subsistence standard of life or re-
gard themselves as virtually terri
tories of the United States. What
ever their democratically elected
governments may decide, its final
ratification depends on Washington.
Is this the new edition of the good
neighbor policy?
Rumor Recalled.
The argument that the Socialist
program cannot be fulfilled without
the aid of American capital is not
a simple one. We should not seek
to borrow for purposes of nation
alization; that would be an internal
economic transaction. 1t must
therefore mean that the Attlee gov
ernment can only obtain a loan or
loans If our internal social policy
has American confidence. That has
a grave bearing upon the right of
the Premier and his colleagues
themselves to determine, with the
consent Of Parliament, the priorities
in their program.
In this there is an unpleasant
echo of the rumor (which 1 believe
to be untrue) that in 1881 the Fed
eral Reserve Bank of New York de-
manded cut in unemployment pay
as condition of loan to support
the pound. 1t might mean that,
in ability to import food and other
necessary materials, we would fail
because our exports were insufficient
to cover their cost. We are as good
as being told that the boundaries
OF our legislation are set by the in
fuence it may have on American
power to maintain capitalist econ
omy.
The American electorate, say In
1948, would not be given a chance to
be impressed by the success of pro-
democratic socialism. The Krock-
Hazlitt thesis is that we are to be
saved from ourselves.
. I hope it Will be found that
Baruch, Hull, Jones and those
thinking like them will be shown
to have forgotten that there is
another America than theirs. 1t is
an America that put Roosevelt in
power in 1882 and was faithful to
him to the day of his death. 1t is
also an America which still remem-
bers the great depression and has
not forgotten that men thinking
like Baruch and Jones, whether they
call themselves Democrats or Re-
publicans, were largely responsible
for that grim experience. I know
Socialists cannot expect aid or
comfort from economic royalists.
But they are confident that the
millions who believe in the New
Deal and the -Four Freedoms will
not easily consent to the sacrifice
of British democracy upon the altar
of economic royalism. For those
millions would know that the sacri-
flee of British democracy would
inevitably mean that American
democracy would inexorably become
the next victim.
tCopyrisht. 1945. Overseas News Agency,
\