The Daily Worker Newspaper, July 21, 1924, Page 3

Monday, July 27, 1924 RANK AND FILE SPANKED A BIT - BY BOOKBINDERS Can’t Be. Tuo Curious of Union Finance The efforts of the few rank and file members present were defeated when they tried to pass resolutions reduc- ing salaries of the officers and lifting the censorship of the officials on the union paper, at the convention of the International Brotherhood of Book- binders in the Hotel Morrison. Denunciation of capitalist organiza- tions formed in Canada to enforce open ghop conditions was approved by the convention. / (Continued from page 1.) tories and general industrial paraly- sis. Comrade Dunne vigorously de- nied Comrade Varga’s statement that Comrade Pepper was the only repre- sentative of the American Party who foresaw the coming crisis. The party had foreseen it but believed that the crisis* would not come as quickly as was estimated by Comrade Pepper. They were now fully prepared to meet the coming crisis buf believed that the rapidity of its arrival was over- estimated. The St. Paul conference did not re- sult in the formation of a mass party, but in the gathering together of vari- ous elements including groips of not get beck to Berlin until the au- tumn of 1922. \ Brandler In Saxony. Yet another fact should be pointed out: the policy of the former Central Committee was endorsed by the Ex- ecutive until the October defeat. Therefore, if the German Party {8 in- deed guilty of any sin, the Executive is equally guilty, because it has acted with ‘utmost vigor against the oppgr- tunist policy.. It was asserted that Comrade Brandler had deliberately chosen Saxony as the battle ground for the application of the united front which was to culminate in the “work- ers’ government,” for the reason that the Communist masses in that coun- try were already contained with op- portunism. THE DAILY WORK must be made good by moral factors: Political insight, militant courage, self sacrifice, etc. The military and technical preparations will partly be effected in the actual course of the struggle. Necessity for Armed Fight. start of the fight is for everyone to be convinced that the fight must be fought, and that he must take part in it. This conviction begets the desire to find éne’s own weapons, and it is render every stick in the house, every hammer in the factory, and even every | bare fist, a mighty weapon wherewith \to fight the enemy. The party has large masses with the desire and con- The most essential postulate for the quite possible that this desire will) done little or nothing to imbue the| ER Dunne and Zetkin Address 5th Communist Congress tional shaping of the party and its in- sufficient theoretical schooling, and the faltering, vacillating policy of the Central Committee, which has mani- fested itself particularly in its attitude upon the trade union question. I will recall only the hesitant attitude of the party leadership towards the workers’ congress, the weak action for gaining admission into the trade unions and for capturing them. Must. Face Our Errors, Comrades, I regard it as essential that you should be quite clear as to what errors and weaknesses are to be jovercome so that the party may be- jcome really consolidated and in the highest degree capable of action, The party will never overcome these er- \rors if you declare that every success- |ful action is due solely to your own nomy and private property. the strength, of Parliament. letariat. last long as Comrade Treint said: in process of formation, mediately develop into the the establishment of the proletarian dictatorship. In other countries workers’ government stage. severe character upon capitalist eco- It is therefore obvious that a Labour Gov- ernment can never maintain itself by It must base itself on the support of the or- gans of power of the revolutionary workers outside parliamenc; the soviet congress and the arming of the pro- The petiod of real revolu- tionary workers’ governments cannot the workers’ government is dictatorship In many countries of western Europe, the fight for the possession of power will im- fight for it will perhaps have to pass thru the} Page Three Ee YOUNG BISCUIT WORKERS EAGER TO BUY EXPOSE Young Worker Puts Over N. B. C. Campaign By BARNEY MASS. As the employes of the National Biscuit company poured out of the gates, they rushed the League newsies and purchased copies of the “Young Worker.” Its appearance had been expected. The result was that 700 copies of the Young Worker were sold. Bosses stood in the doorways looking jeeringly on as the biscuit The fact of the matter is that Com- |sclousness of the necessity of the} kers bought the paper. bankrupt farmers. Until the indus- makers boug! pap Want Woman A. F. L. Executive. ~ Resolutions were presented to the convention demanding the release of Thomas Mooney, insisting that the American Federation of Labor ap- point a woman as representative of the Bookbinders on the American Federation of Labor executive, coun- ceil, and ruling all the male unions of the Bookbinders in New York City be Amalgamated into one union. The hottest argument of the con- vention so far centered around re- solution 18, which demanded that the financial statements of the union be printed in the Bookbinders’ Union. The resolution was finally defeated by the supporters of the International officers by a vote of 68 to 28. Robert E. Haskin, of local union No. 8, led the fight to have the finan- cial statement printed in the Journal. He said, “There are members in the progressive organization of our In- ternational Union that are interested in knowing, where the money goes that they are paying into the Interna- tional Union. It is very hard for the tank and file members to get that. Only One Vote. tige “There have been sneers at the rank and file ‘membership, but where would we,be if it were not for the rank and file membership. There is no doubt in my mind, that we may make mistakes. Officers are human as well as members. They may spend some money in some way that the members don’t approve of. Every member of this Brotherhood, if he thinks his money is not spent right, should report his objections, and he can’t object if he doesn’t know where it's going.” e Mr. Wenzel, local union No, 4, was the lone delegate who asked to be re- corded as voting for resdlution No. 11. This resolution proposed the re- duction of the salary of the president from $5000 per annum to $3500 per annum, and, of the International sec- retary-treasurer from $4800 to $3500. The resolution demanding the re- lease of Thomas Mooney “resolved that our delegates to the convention of the American Federation of Labor ask that body to use its good offices as well as all other means at its dis- posal for the immediate retrial and release of Thomas Mooney.” ‘ Favor Old Age Pension. The convention went on record as favoring “the adoption of an old age pension as soon as such plan is feas- ible, and for this purpose the appoint- ment of a committee to make a scien- tific study and thoro investigation and report its findings to the next con- vention.” “The fight for the labor movement in Canada has been ngich aggravated by the formation of societies known as the National Catholic Syndicate and the Canadian National Union,” says the report of the committee on Canadian affairs which was unani- mously adopted by the convention. “Both of these organizations are used by the employers to defeat organized labor. . These organizations are of national scope and wield a large in- fluence on certain sections of the workers in Canada, thereby making imperative that an active campaign be undertaken to bring about the bet- ter organization of the bookbinders and bindery women of Canada.” Catholic Unions For Bosses. “The Canadian committee also de- sires to go on record as favoring and recommending the desirability of us- ing every effort in seeking closer affiliation with the a ae Trades Unions,” “We are glad to report ‘that in spite of the efforts of the National Catho- lic Syndicate to organize our people in Montreal, Local Union No. 91 more than holds its own in that city.” The Canadian committee reported that the International president offi- cially attended the labor day parade in Montreal, 1923. Yugo-Slavs Smile at Russia with P| Reservations Added VIENNA, July, 20.—M. Ninhtch, Yugo-Slav minister of foreign affairs, in passing thru here after the con- ference of the Little Entente said that Crecho-Slovakia and his own country were ready to recognize Soviet Russia but would tolerate no propaganda. In the event of war between Russia and Romania on the Bessarabian situation. M. Ninehich said that Yugo-Slavia would probably maintain a “friendly neutrality” toward Rumania. He said trial masses were drawn into the party, it would possess no basis as a real mass revolutionary party. But at present the American working class was too well employed, well paid, fed and clothed to be in a revo- lutionary state of mind. Turning to the problem of Ameri- can imperialism, ‘Comrade Dunne pointed out that Latin-America, which contains a population of 110,000,000 Spanish-speaking peoples, had large- ly replaced the lost German markets as far as the United States was con- cerned. The population of South America was on the whole hostile to American imperialism, and it was the task of the American Party to organ- ize these workers to resist the Ameri- can imperialist class. Emphasizes Negro Issue. The American: trade union bureau- cracy, controlling four millions of workers, was the world’s most reac- tionary trade union leadership. It was the first line defender of capi- talism and fought for American im- perialism. The principal task of the American Party was to embrace and lead the whole 20 millions of Ameri- ca’s industrial proletariat. It was a clean-cut fight between the Commun- ists and all sections of the bour- geosie. Then ten to twelve million Negroes, the most bitterly exploited face in America, were led by people whose function it was to keep them servile henchmen of the bourgeoisie. They were being driven into industry to compete with the white workers. They constituted a serious problem, coupled with which was the influx into the industry of two million farm- ers, driven off the land by bankrupt- cy. The agricultural group was of decreasing importance as an econom- ic and political factor, and the Ameri- can Party must not base its tactics of the united front on the farm pro- letariat. The American Party was now becoming a mass party and was united behind its present leadership. Its experience in the past two years had brought it knowledge and ability to deal with the complicated Ameri- can economic struggle. Need Organization in England. Comrade Dunne then referred to the criticisms ‘of the British Party, which, he observed, the British comrades seemed to resent. When Comrade Zinoviev had said that in England there was a tradition of ‘small par- ties, the British delegates had seemed pleased. It seemed as if they thot that, if they had been a big party, they would have been out of tune |with the traditional development and would have been wrong. The British Party needed an intensive organiza- tional campaign linked up with the political work of the party. It would not gain the membership it needed by diffused propaganda and abstract Communism. He believed that appli- cations for membership were much better. than a great ny abstract speeches. a Clara Zetkin Speaks \ The next speaker was Comrade Clara Zetkin who was greeted with loud and prolonged cheers. Comrade Zetkin: If we are now en- gaged in weighing and reviewing the road already traversed, it is Because rade Brandler did attach supreme im- portance to the development of the situation in Saxony, yet it was not be- cause he considered the Communist masses contaminated with social-demo- cracy, but rather because he errone- ously imagined the social democratic masses to be so impregnated with our influence that they would join us in the fight. Foiled Fascist Coup. There was yet another important reason for choosing Saxony as the battle ground. It was the talk of the town that the fascists in Berlin were going to restore the monarchy on the 9th of November. The only way to frustrate this plan was to retard the fascist march from the South, in Sax- ony and Thuringia. If the events in Saxony did not bring about the prole- tarian revolution, they have at least contributed to the fact that the fascist attempt on the 9th of November re- sulted in nothing else but the Hitler farce at Munich. The majority representatives seem to share the view of Comrade Zinoviev that the October retreat was due to a wrong application of the tactics of workers’ government, To my mind the October defeat was due to a number of causes, which should prompt us to. criticise severely the attitude of the party prior to October. Revolutionary” Situation. Thanks to the occupation of the Ruhr, the situation was doubtlessly extremely revolutionary from an ob- jective point of view, and it already began to grow even subjectively revo- lutionary. All of a sudden, so to speak, hundreds of hot springs bub- bled forth from the ground that was rent by an outburst of volcenic forces It was the task of the party to merge these waters into one strong stream and to set to this stream its cours¢ and its goal. In other words, the fight was to be waged tor the conquest of power. Blames ioadenili This did not happen. The party did not take timely cognizance of the revo: lutionary situation, nor did it take ad- vantage of the situation with suf- ficient consistency and vigor. And by far the larger part of the blame rests upon the leadership of the German Communist Party, because it should have led the way instead of waiting to be driven into activity by the masses. It was the duty of the party to lead up to the common every day demands of the proletariat to the de- mand for the conquest of power, and to challenge a civil war, not abstract- ly, but utilizing “and intensifying the movement for the ameliorating of the misery of the people. The party failed to utilize all the opportunities for ac- tion in parliament, in the communal councils, at public meetings and de- monstrations, so as te transform every ery-for bread, clothing, or education into the cry: down with the capitalist dictatorship! The party failed to con- centrate and to permeate the factory councils and to organize into points of |armed fight. By its policies and polit- ical activities it failed to get into in- nermost touch With the masses that are to be engaged in the fight, neither in the whole of Germany nor even in Saxony, where the fight was to flare up. Huge Mistake, Under these circumstances the com- mon “workers’ government” of Com- munists and social-democrats was in- deed a huge mistake. The only sense in’ a workers’ government was if it | would be formed as the crowning effect of a tremendous mass movement, backed by the political organs of pro- letarian power outside of parliament, by the workers’ councils and by their congress, and above all, by an armed working class. The very. reverse was done. The workers’ government was to be the starting point of a mass movement, and of the arming of the proletariat. Under these circum- stances it was inevitable that some mistakes should be committed in the application of the tactics of the United Front. And so it happened. The fever- ish hunt for arms had the effect of frustrating the very revolutionary po- licy which was to arouse and to rally the masses, and to get them to use the weapons in the fight. The net result was: no weapons and no men. Masses Not Prepared. Brandler had to admit subsequently at the Chemnitz Conference that the Communist Party was fighting while the masses were not ready to fight. And it was this sad state of affairs that urged him to refrain from ap- pealing for a fight. It was asserted here that the retreat did not express the revolutionary sentiment which existed among the masses. Nothing of | the kind. Of course, the party, the leadership as well as the membership, ‘was inspired by a strong and honest | desire to fight. Nevertheless, the bare fact was that the masses were not pre- pared to fight, because the party failed to make proper use of the spontaneous it was allowed to flicker out uselessly. ; The Cuno Strike. The same thing happened at the time of the Cuno strike. The Cuno strike was certainly an abortive at- tempt to lend political color to the movement of the masses, but it re- vealed also the great lack of political maturity for the revolt, for the cap- ture of power. Not otherwise was it possible, for the masses allowed them- selves to be lulled by the social-demo- cratic bourgeois hotch-potch of the Stresemann-Solmann Hilferding gov- ernment? Then came the Emergency Powers Act, the dispatching of Reichs- wehr troops to Saxony, the persecu- tion of the Communist Party, and the remained dumb. No message came lutionary readiness and willingness to fight. The Hamburg Battle. But you will tell me, What about Hamburg? Well, Hamburg support for mass action. Neither did Ignored Partial Fights. _ it infuse the breath of life into the militant organs of the united front, by making the proletarian hundreds ac- tive and by giving them a definite aim, to serve as the defense corps of the workers in their daily struggles. How are these mistakes to be ex- plained? The party was convinced that the fight for the conquest of we wish to outline the path for the next courageous advance, for we are all united in the conviction and the desire that we must speed the courses of the revolution. In this respect the central points are the October retreat of the German Communist Party and the tactics 6f the united front, two subjects of international importance. ‘We have listened to the statement of the majority representatives of the German Communist Party about the October defeat and its causes. We were entertained to a grotesque mis- representation of the past, and to @ heavenly glorification of the present. It was asserted that the October de- feat was the inevitable outcome of the petty bourgeois, opportunistic policy sued by the Communist Party since 1921, which was calculated to liquidate the role of the Communist Party as an independent and leading revolutionary class party of the proletariat, and thus to deprive it of its right to exist. There are several facts, which give the lie to this assertion. We are told here about Brandlerism and Radekiém, regardless of the fact that until quite recently Radek was one of the most ardent champions of the left wing. Brandler, who is reproached with hav- his policy quite conscious- ly and tically since 1921,” power would be inaugurated by an extreme effort, in whfth all the forces. would pull and work together. It con- sidered the ‘partial fights and the par- tial demands merely as the premature dissipation of the energy of the masses. It did not consider the fight for partial demands as a means of recruiting, mobilizing and educating the proletariat for the mass fight for power. This wrong view is indeed a fatal social-democratic legacy. When the party at last saw the full meaning of the revolutionary situation, it made a belated effort to rally the mass-or- ganizations and to equip them mili- tarily and technically for the armed rising. Must Educate Masses, Of course, military and organiza- tional preparation are both necessary things. But they alone do not suffice, They must go hand in hand with tire- less and consistent education of the masses to the necessity and inevitabil- ity of the armed fight. It was Na- poleon who said that 80 per cent of the guarant ef victory are of a moral nature. This is twice, ten-fold, true of civil war, On the outbreak of the revolutionary fight, the masses will have to take into consideration the military and technical preparedness of did] the counter-revolution. The deficiency of my view. All the sincere admir: tion which I felt for the couple 0} hundred brave souls who fought like lions at Hamburg could not make me obvious of the mortifying fact that these fights were not accompanied by any action of solidarity either from the ranks of our party or from the ranks of the proletariat at Hamburg. A few hundred were allowed to fight unaided. (Thalmann: “Because they had no arms.”) I am aware of fiat, Comrade Thalmann, but what the devil become of the resolve to requisi- tion arms by force? Under those circumstances not only the party mem- bers but the whole of the Hamburg proletariat should have been inspired. by the call to arms that was once ade by Herve Tear the croi out of the ground, Turn the crosses into swords! I noticed no resolve of this kind. And where was this spontaneous actton of solidarity, even in one industrial dis- trict of Germany? The militant revo- lutionary resolve of,the party proved an illusion, All these facts lead me to the con-| clusion: The party has not yet con- solidated its forces and its activity to. rally the masses to action by our prop-| aganda and education, to unchain the activity of the masses, and to get the masses into the conquest of power. No doubt the October defeat was part- ly to blame for this, as well as the economic situation, the exodus from the trade unions (for which, by the way, the party is partly to blame), the wholesale victimization of com- rades, and so on. But there were revolutionary outburst of the masses; | fascist dictatorship. Yet the masses | from the masses to indicate their revo-| ‘interpret in their own way the resolu- tions of the world congress. This must | comrades: | is a very strong argument in support laneriest waste alocicliah heritage of the old Central Committee. jand the same breath that you are both impotent and almighty. Greater tasks are facing our party than ever before. ‘We must be prepared for them. Arming for the Struggle. It is very possible that the world |situation will rapidly become jthe basis of the Experts’ Report is working in this direction. We must exert greater energies than ever in or- |der to win “over the masses and to fling them into the fight under our leadership. The party has begun to arm for the forthcoming struggles by its. agreement with the Communist parties. of the neighboring countries. I welcome this feature. But we must not forget in our in- ternational mobilization that imperial- ism must be defeated by the proleta- riat in their own country. Therefore the proletarian masses in Germany must be mobilized. I have so far heard nothing of the concrete slogans and measures that this necessitates. More- over the-proletariat must find allies in order to overthrow the domination of the capitalist class. What is our at- titude towards the national question, the peasant question, and towards the question of the petty-bourgeoisie? Where are the practical concrete de- ductions from our policy? The United Front, How? The present situation lends in- creased importance to our attitude to- wards the proletarian united front. It is certainly one of the most important duties of the World Congress to reach |complete clarity on the subject of the united front, a tactic the culminating |point of which is the workers’ and |peasants’ government. Neither tHe re- port of Comrade Zinoviev nor the discussions have dealt with sufficient clarity with the question as to how the united front is to be concretely |earried into effect. Comrade /Zinoviev spoke in the manner of a Bible or | | biblical commentary how the resolu- tion of the Fourth Congress is to be understood. I frankly declare that it has not been explained how the united front is to be put into effect. “Have Done With Words.” On this subject I hold with Luther: “Have done with words.” The resolu- tions of the World Congress must be regarded as authoritative without ex- planations or comments. When they no longer suffic{, they must be changed. We need unambiguous texts. If we permit explanations written by be understood, then we must recog- nize the right of other comrades to not be, in spite of our great respect for the chairman of the Communist In- \ternational. It will lead in practice to the breakdown of unity, the break- Union for Life and Death. We must clearly understand that the united front must be a union for life or death of all proletarians who’ are rebels against the capitalist profit- system and the bourgeois state, a firm revolutionary fighting brotherhood un- der the leadership of the Communist Party. Two preliminary conditions are necessary for such a united front. Firstly, that the Communist Party must be a firmly consolidated, disciplined, centralized unit with unshakable prin- ciples and convictions. It must never conceal its true character. In its ac- tions it must never allow itself to be bound by considerations of other par- ties. It must always act with extreme firmness and independence as the revolutionary leader of the masses. The second condition for the united front is that we must be capable of improving’our contact with the masses and their daily struggles for the daily needs of the proletariat and the pro- ducers in general. I cannot accept the statement of Comrade Zinoviev on the question of the workers’ and peasants’ govern- ment te the effect that the workers’ and peasants’ government was only a pseudonym, @ synonym, or some other “nym” for the cytes ot the proletariat. Not by Parliament. The Labour Government can come only as the expression of a reyolution- ary mass movement.’ This {6 also true even if a parliament is its god- mother. The workers will expect that it should conduct a revolutionary la- doubtless some other causes too. For instance the inadequate organiza bour policy. This is impossible with- out dictatorial attacks of the most work and that every weakness is a If you do so yow will be saying in one Zinoviev independently, or by Zinoviev | |misled by Radek, and are content with |his opinion as how resolutions are to | Pacifist-Democratic. ocratic wave, regarding the tance of which the opportunists are so eloquent, is very powerful or can last very.Jong. Basing myself on this conviction, I am of the opinion that every spark of power the proletariat can win must be exploited to the full. The world domination of the workers. The ideas of the Social Democrats cripple and deaden the faith of the workers in their own revo- lutionary strength and degrades them to body-guards of the bourgeoisie. Therefore the Communist Internation- al must regard it as its first duty to root out every trace of reformist-op- portunist tendencies. We must also cies are not merely an inheritance of {the past, but that they continually arise out of the present situations. They are based on the desire of un- enlightened workers to escape from the hell of poverty as quickly and as “cheaply”. as possible. On the other |hand, the same situation, the hesitat- ing progress of the revolution, gives rise to another danger, a danger from |the Left. It is the danger of the point |of view which leads to Putschism; in other words, the conviction that the party must undertake revolutionary, and decisive action without the masses and for the masses; that mass action can be replaced by party ac- tion. Masses Necessary. I have noted this point of view run- ning as an undertone to the asser- tions that the German Communist Party in October should have at- tacked in the fight for power even though the masses stood passively on one side. It was the concealed, cause of the offensive in the March action. be such, that the party should become the planning and leading brain, the organized backbone and the passionate forward-driving heart of the masses; the life of the party must become the life of the masses. Bolshevik Party! Masses and party, as active sub- jective factors of the revolution, be- long together. For this purpose the communist parties must become steadily bolshevised. They must be- come permeated with the attitude and adopt the practice of what in my opin- jon is the organizational and political superiority of bolshevism. It is the princfple that a revolutionary party cannot tolerate merely paying memi- bers, that every member must be an |active, working, fighting member, ful- | Alling definite party duties. We must fill every party member, every work- ing man, and every working woman, |with the conviction that altho their will. and their deeds may be but a drop, nevertheless At may be the drop }whfth will fill the cup of the revolu- tionary will-to-act to overflowing. If we succeed in working and fighting in this manner, the revolutionary wave will again well-up from the depths of objective forces and to it will unite itself the will of the masses under the leadership of the Commun- ist Party, tense for the fight, driving the wave of revolution forward with irresistible power, so that it swallows up bourgeois society. Let us exert every effort to make the wonderful, proud slogan of the young soviet- pioneers a reality in our party: “Al- Ways ready.” Send in that Subscription Today. “NOES” GAIN AGAINST TRIBUNE'S BROADCAST OF BIG MURDER TRIAL ning against the Chicago Tribune battle to broadcast the Loeb-Le pold murder trial, in spite of the efforts of the “paytriotic” sheet:to win support by enlisting the opin- jon of the strike-breaking | s' attorney, Robert E. Crowe, vote to date is all for the ‘no many of whom add comments pro- testing vociferously against the broadcasting proposal. Workers couldn't listen in to the trial with all its salacious and sor- did detail because of their employ- ment, and angry :nothers do not want the trial broadcast because of the difficulties of restraining young people's attention. I do not think that the pacifist-dem- impor- instruments of power but by the op-| portunist, reformist contamination of | be perfectly clear that such tenden-| Our attitude to the masses must| Many of the girls and boys were afraid to purchase the Young Work- er just outside the gates. “I will buy one up on the corner,” was common- ly heard from many of the workers. Signs have been placed in every de- partment threatening discharge if caught buying the Young Worker. Girl’s Pay Reduced. very the bour. laéute. An acute situation may arise|geoisie has been shattered to its| The girls are particularly interest- with extreme rapidity in Germany,|depths. It no longer maintains itself |@4 im the fight being carried on by the since the reparations agreement and |by the strength of its legal and illegal’ Youngs Workers’ League and, gath- ered in bunches, they discussed the conditions inside of the plant with the members of the League. They told of a girl working for $17 per week, but forced to lay off on ae count of the illness of her mother, who found her pay reduced to $15 per week after returning to work sev- eral weeks later. Fe While, the employes are being sweated, getting an average wage of $15 per week, the National Biscuit is enjoying its most prosperous year in its career, as attested by the record earnings of the six months ended June 30, 1924. Doubt as to National Biscuit Co.’s ability to cover the in- creased dividend requirements result- ing from the recapitalization of 1922 has now been dispelled even in the minds/of the most,skeptical. The net income is announced at $5,706,374.60 after taxes and allowances for pre- ferred dividends. This runs to $2.78 a share on the 2,046,520 shares of common stock outstanding, as com- pared with $4,964,406.50,,or $2.42 a share in the corresponding period last year. | No Dividend to Workers. The company’s recapitalization in 1922 took the form of the declaration of a 75 per cent stock dividend and a reduction in the par value of the stock from $100 to $25 a share. In effect, stockholders received seven shares of the new issue in exchange for one share of the old, so that pres- ent dividend rate of $3 a share is equivalent to $21 a share on the basis of the old capitalization. On the same basis the présent stock, at current quotations around $60, is selling at $240 a share, whereas the highest was $263 a share. These figures show that the stock- holders who have retained their hold- ings have profited handsomely. What share of these profits did the young biscuit makers, receive? * Net earnings of the first six months of 1924 equalled approximately $19.50 a share on the old stock or $39 a share annual rate. Net income of $3,941,147 after charges and preferred dividends was reported for the year ended Dec. 31, 1921, a sum equivalent to $13.48 a share on the 292,360 shares of common stock then outstanding. When “going over the records, it must be admitted that very few com- panies have made such remarkable gains. This can be somewhat attri- buted to the increased demand of their products, but the principal rea- son is that the conservative policy of ploughing back the earnings into the property has been mostly abandoned. It has not impaired its working capi- tal to additional financing of improv- ing the plants. Damn the conditions of work, dividends are what these plutocrats are out after. Young Workers Slaves. -It is estimated that $2,250,000 will be spent this year in adding to plants. At present bakeries are under con- struction in Los Angeles and Chi- cago, an important addition is being made to the Buffalo plant, and new units are also. planned for Boston, Cincinnati and Cleveland. While the National Biscuit is growing and reap- ing greater and greater profits, the conditions of the workers go from bad to worse. The employes share very little with the bosses in the expansion of the industry they are building. The ones responsible, the young biscuit makers, for the establishment of this power- ful company have the least to say and are given no consideration in its management. Considering \the in- creased earnings, it is time that the |workers were getting some increase in salary and the conditions under which they work, bettered to the ex- tent of raising their level to that of human beings and not slaves, Fascist Warrior Gets His ROMH, July 20.—General Garibaldi, war hero and: recent convert to the Fascist ranks, was buried with milt- tary honors. | Send in that Subscription Today, point reached by the $100 par issue |