The Daily Worker Newspaper, December 23, 1927, Page 3

’ FOREIGN NEWS BY Federal Reserve Banks and Morgan Mai ntain Mussolini J. P. Morgan & Co. will extend a $25,000,000 loan to the Italian Fas- cist Government, it was learned yes- terday. The loan will be made inj connection with the attempt to sta- hilize the Italian lira. In addition to Morgan & Co. the United States Federal Reserve Bank vnd the Bank of England are said to haye been involved in the negotia- | jernment aid to avoid sinking’ into | tions for Italy’s return to a gold basis. The $25,000,000 loan is only the latest of a series which Morgan &| Co. has floated for the maintenance of the Fascist government in Italy. * ee TRIESTE, Italy, Dee. 22.—Govern- ment by decree is now endeavoring artificially to stabilize the lira at 19 cents to the dollar. Such was the de- eision of Mussolini’s cabinet at Rome this afternoon. This is its pre-war basis. the international money market can- not be established because it was an- nounced after the close of the stock exchanges, but it means a pronounced | deflation of Italian currency. Heavy Inflation Past Year. The past year was one of heavy inflation with the lira constantly fall- ing and the masses of workers bear- ing the burden in the decreased pur- chasing power of their wages. The lira rate in percentage of dollar parity | fell from 17.7 in August 1926 to 28:3 in August, 1927, the latest official figures of the treasury department, | put it is now something in the neigh- borhood of 81 to the dollar. With this rise in currency issues | wholesale prices fell by 25 per cent and retail prices by 16 per cent and the cost of living by 8 per cent. Fur- | ther wage reductions are impossible This is to be put into effect | tomorrow morning and its effect upon | prices to adjust themselves to the} new system. | Big Industrialists Gain. The recent inflation resulted in thousands of small industrial and com- wall which benefited the big concerns inasmuch as it reduced competition, but even the big industrialists for the most part had to depend upon gov- bankruptcy. tempt to rescue the big industrialists from jan impending crisis by placing the burden upon the workers and par- | ticularly upon agriculture “as it automatically have the effect of re- |dueing incomes from farm products. serious every day and unemployment }is widespread. Even the wholly un- | reliable figures of the fascist govern- ment admit that unemployment has increased from 112,000 as the 1926 laverage for the year to more than | 800,000 today. These | dreds ;time are below the subsistence level. i mete Anti-Semite to Aid. Roumanian Students BUCHAREST, Dec. 22. — The #it- \est move of the Bratianu government in the case of the young fascist stu- dents, charged with rioting and pil- laging during the recent pogroms in | Transylvania, is the appointment of the notorious anti-Semite, Prof. Cuza, as counsel for the defense. Cuza’s appointment has aroused a because wages are now below the sub-} fistence point. The proposed stabili zation will enable those now holding money to realjze a considerable reduc- | tion in prices because it will take zone time for wholesale and retail {Latin American Ships Carry Millions Worth Of Goods to U.S. S.R. BUENOS AIRES, Dec. 22.—The | steamer “Christian Borg” has sailed for the Soviet Union with a cargo of merchandise purchased by the Soviet Union’s commercial delegation here, This is the third ship to sail for the U.S.S.R. this month with a cargo totalling four million dollars. Two of the hoats sailed from the Rio de la Plata and one from Chile, the last making the first direct freight shipment between the So- viet Republics and Chile. $ —> Great Assortment o° All Makes of | Tyrewriters. Portables, New and Re- built. All Guaranteed. Moderate Prices. For Sale, Rental and Repairs. Open: 10 A.M. to 9 P.M. International Typewriter Co. 1648 2nd Avenue. W YORK CITY. ; storm of protest from all progressive jand labor sections in Rumania, but \the protest has been ignored by the | | courts. The majority of the students have merical establishments going to the | The present stabilization is*an at- | The crisis in Italy is growing more | working part time and those on full | THE DAILY WORKER, NEW YORK, FRIDAY, DECEMBER 23, 1927 CABLE Will Aid Slaughter | | | | { Alfred is Batson, an enroute to China to join the Nanking American, army as a captain. His appointment is in line with the Nanking policy of recruiting foreign soldiers. Filipino Politicos 22. — Re- endorse the |appointment of Henry Stimson as | Governor General of the Philippines, it was learned yesterday. In an address in the House of Rep- resentatives, Pedro Guevara, resident commissioner, declared: “The appointment of the new Goy- ernor-General was heartily endorsed by the Filipino people thru their con- WASHINGTON, Dec. |formist Filipino leaders the appointment was confirmed by the | Senate there was general rejoicing. | “In my belief,” he continued, “Govy- ‘ernor Stimson will be afforded the | | for promotion of the best interests of both countries.” | Stimson spent several hours yes- terday conferring with members of | the insular committees of both the | House and the Senate. | Laud Col. Stimson are admitted | | to be actually unemployed, while hun- | of thousands of others .are | stitutional representatives and aiter | | most cordial cooperation, so essential | |atready been released, and it is open- | | , Alfredo Calles Ill ly charged here that the trial of the | zs , students is a political farce necessary | PHILADELPHIA, Dec. 22.—Al- for justification in the eyes of foreign | fredo Elias Calles, son of president powers and for pacifying the a | Falles of Mexico is ill of appendicitis Bet. 85-86th. | NEWS OF THE PROGRESS OF THE REVOLUTIONARY MOVEMENP IN ALL PARTS OF THE WORLD Every Week in THE INPRECOR (International Press \ Correspondence ) fs ‘ THE LATEST NUMBERS No. 67" a special nifinber on the opposition in the Russian Communist Party with special documents and discussion, features an article No. 68 by N. Bucharin on “The Russian Revolution and Social Democrac In addi- tion this. issue ures arti- eles on the leading events in the labor movement of all countri®s, SEND FOR BOTH COPIES 10 CENTS EACH Subscribe for this interesting vevoMtionary publication $6.00 a Year—$3.00 Six Mos. Sole American Agents Workers Library lishers 35° z. 125% St. NEW YoRK i na te jities at home. ‘Soviet Union Raises International Loan ion has raised an international loan| of $800,000 for the purchase of loco- | motives and coaches from the Swiss {firm of Brown and Bouverie. “The loan was negotiated by Maxim Lit~ vinoff, Vice Commissar of Foreign Affairs, when he attended the Prepa-/ ratory Arms Conference. English, Americans and Swiss par- ticipated in the loan. ee pasate _ _ Rivera Cashes In! MADRID, Dec. 22.—Barcelona and | Madrid went “lottery mad” today as ithe drawings in the national lottery | were made. | The first prize was 15 million pese- | tas —- approximately $2,500,000, a goodly fortune in United States cur- rency and a sizable amount in any money. EUROPE’S POOR FREEZES IN * COLD. PARIS, Dec, 22.—Suffering among ithe poor has become frightful in the | cold spell which has gripped all north- jern France and in Paris has cracked | open several of the Seine bridges so \that traffic can not cross, i OR ae LONDON, Dee, Thousands of unemployed are suffering in the icy cold that has settled over England and Scotland. For Rail Equipment. GENEVA, Dec. 22.—The Soviet Un- | |here today at the home of Senor A. | Ortego, Mexican Vice Consul. Calles came here to attend a concert. He will be taken to the home of his uncle Arturo Elias, New York, as | soon as his condition permits. | SEIZE 4 IN SALVADOR. SAN SALVADOR, Dec. 22.—Two men have been arrested here charged | with being in the pay of Honduras for the purpose of supplying arms to parties interested in overthrowing the government of San Salvador. The | men were working on the estate of the former president of Salvador Melen- dez. . GEORGE TAKES A REST. LONDON, Dec. | George is sailing for Brazil where he | will enjoy a rest from political excite- |ments. He is reported to have been | induced to make the trip by the glowing praises of another imperial- ist, Rudyard Kipling, who .recently | visited the country. GERMAN RADIO STATION Li ARGEST | BERLIN, Dec. 22 What is me- ported to be the world’s largest radio station has been opened at Zeesen, Germany. The masts are nearly 700 feet high supporting a five strand antenna 920 feet long. The station! is ground with a copper mesh buried forty feet underground. ITALIAN PRINCE MAY WED. A report is current that Prince Humbert, of Turin in Piemont, will wed Princess Marie Jose of Belgium, | upon the Prince’s return from a trip | to the Holy Land. By E. G. W. | J. W. Seligman and Company an- nounces a ‘loan of $50,000,000 to the! Republic of Peru. It is said that this | \will constitute the ‘first series of “a | \Peruvian national loan... author- lized for the purpose of refunding the ‘entire external secured deat of the republic.” The proceeds of this first series will be used for the “retiring | of certain loans, service charges on which are comparatively high; for the jStabilization of Peruvian currency; for the payment of Peru’s share of the capital of the Mortgage Bank of Peru (soon to be created); the construction and improvement of dock. and ship- ping facilities in the harbor of Callao; ete,” The bonds will be issued under a 'fiseal agency and under a loan agree- iment which will provide for the issue ‘of additional series of the loan. | Peaceful Penetration. | In the section of the ad dealing with security of the loan it is made plain that the payment of the loan to Seligman and Company will take precadence over all other obligations in Peru. It also states: “The republic of Peru is the third liaseeat country in South America and has a population estimated at 6,000,- 000, It is rich in mineral and agri- gultural resources. It is the world’s third largest producer of silver and |for many years it has exported large |quantities of low cost copper. Its petroleum resources, considered of \great potential value, are being rap- | idly developed by capital from the | United States and other foreign coun- tries.” But the ad omits to say that Standard Oil control 90 percent of the jexports of Peru’s oil and owns out- | right over 70 percent, Controlling Banks. Up to the present British capital investment in Peru was larger than American. Britain controlled the rail- {ways and banks and public utilities and currency was calculated in Brit- ish pounds, But now with this loan of 50,000,000 (first of a series) American interests will assume control of banking. The establishment of the Mortgage Bank of Peru will give American capital |control of lands which formerly were under British control. The provision to retire all the other external debts under the pretext of excessive charg- es, will leave American interests the undisputed bosses, Thus the United States is tighten- | ing her control over Latin America and American capital is slowly and very steadily driving Great Britain from the map of the western hemis- ohere, che dele de doe ch eetecte deeded det 22.—David Lloyd! MACHADO, WALL STREET PUPPET, GRIPS HIS JOB ‘Liberals Hit Coolidge | Visit to Havana | WASHINGTON, (I (FP) Dec. 22.— Gerardo Maehado, the dictator who} | caused hundreds of workers to be | killed during his first year in office, | is now putting through a servile con- gress a series of measures that will keep him in office for two years be-} yond the term for which he was| elected, A revolution is preparing. | Cubans, led by many of the veterans | of the War of Liberation of 3( years | |2g0, want to know whether they will | |have to fight only Machado or must | fight also the armed ‘fortes of the | | United States. Wall Street's Hero. Machado has made himself the hero | of the American interests, and of the American embassy in Havana, by his ruthless crushing of strikes and his suppression of the unions of railroad | workers and tobacco workers. He has used the national lottery, with its thousands of lucrative ticket- selling | agencies, as a means of buying the | membership of the Cuban congress, | and by fluent promises of reform or! by denial of the ugly facts of his| | record has ‘stilled protests. Fear U. S. Guns. Since 1917, when Woodrow Wilson | declared against any recognition of a revolutionary regime in Cuba, the | hope of overthrowing a dictator has | heen discouraged. In that year the Gomez revolt against President Men- | oeal failed becaused.of the attitude | of the United States. Now ten years have brought a tremendous increase in American investments in Cuba, with consequent fear of revolutions. Ma- chado feels perfectly secure within the no-recognition trenches against his whole country in revolt. That is why the leadership of | Cuba, including Col. Carlos Mendieta | and former Vice President Varona, Cosme de la Torriente, Pedro E. Be-} tancourt, Aurelio Alvarez, Gen. Jose Marti and a long list of others who have been high officials in the con- gress, cabinet or diplomatic corps of thérepublic, have signed an appeal against Machado’s program. They do not want the Coolidge visit to Havana to be used as a prop to the dictator- | ship. CURE FOR SEA SICK. MUNICH, .Dec. 22.--Sea sickness, or the “concomitant derangement of opposing nerve forces,” as Dr. Dam-} mert, a German physician describes it, can be cured by the inhalation of oxygen through a face mask, he as- ace [nearly a View of the water front at Havana, Cuba, which is being decorated for the reception of the delegates of the Pan- American congress.’ Insets are of President Coolidge (who will address the conference) and “Butcher” Mach- ado, Cuban dictator, who will prob- ably open the conference. Give Czas Agent U.S. 8.8. evel Echoes of the Ru and the Black Tom exy | Jersey in 1926 were he: eral court here yeterday wher 2 announced that a check for a sum of million dollars fo warded to Serge Ughet, fi agent of the Czar and the Kerensky provisional government. The check was ordered pay: Ughet by Federal Judge F Winslow following a suit against the | Lehigh Valley Railroad as the result of the destruction of munitions, which had been bought and paid for | revolution | t’s Puppets Meet j Rex sctienatie to Greet “Flying Fool” When He Arrives in Nicaragua Meceawitz rs | |fore the Pz Page Three AND MAIL FROM SPECIAL CORRESPONDENTS Where Wall Stree DENOUNCE 8. 8 | MARINE CORPS: IN HICARAGUA Union Elections Latin America n to Watch BUENO acios, to- } lawyer de la Torre. fj ming elections tion’ of Ni- the United n American nion h appeal to all na- tions of South Central Ameriea to t of Nicgragua come i gression, of the Latin 1 travel te Nica- the tactics ns whichi of the ayerring es will not in- in favor of Am that the 1 | > in the ¢ er the Cons tive or the Lib- eral candidate, the American State Department has already announced, that it will not recognize Emiliano Chamorro should be elected, and it is felt trroughout Latin America that the purpose of the American armed fo at the polls can have no other result than the suceess of | Adolfo D | The protest of the Nicaraguan | Feder: of Labor places the issue of American intervention clearly be- n Federation of the Nicaraguan which body is arriiele d. | Labor with | Spanish Textile. ‘Strike | Ends After Third Menth by the Russian government, in the | Black Tom explosion. | The Russian government was! awarded $984,104.62 damages. As USSR Conditions: _ MADRID, Dec. ra strike h has lasted almo: months, workers have re- Peis Spanish textile the Soviet government has not been} In spite of” reports of “unrest,” eal turned to the mil stormy ses- recognized by the United States, the Lehigh Valley Railroad paid the money to the United States treasury end then Judge Winslow ordered the tion board brought nt resulting in the Ukraine i: the worl jof the extremely prosperous and | sion of the art and peasants solidly back; about an agrecr joviet government, according | res ;to Dr. Henry Moseowitz, chairman of The tex place during money paid to Ughet. z the Executive Committee of the!the strike of t and coal It is expected that the Soviet gov-| American Ort Reconstruction Com-| mi ernment will take steps to stop pay- mittee, who-has returned from an ex- | ment on the check to Ughet. The Troubled Royalty | LONDON, Dee. In his speech proroguing Parliament today, King | George declared that the unemploy- tensive tour of the district. Dr. Moscowitz, who visited the Jew- ish agricultural settlements, lauded | the large land grants made by the | Soviet Union to Jewish settlers and the easy credit terms granted the| colonists. s Vesuvius is iolently according ment situation is giving him some " _-— — ea the fore ade by Dr. Akitune anxiety. Parliament will meet again BUY THE DAILY WORKER | Imamura, who red the lead- December 7th. AT THE - NEW: SSTANDS Far East, | erecereeeverrrere a le + =) In Joint Recital With Paul — Althouse 4 | Tenor + Metropolitan Opera Pa Star | a Sascha Jacobson . Violinist PLEA SPA EES SAAAAL EE AALAL LEAD ALAS AdAAdh ede + 4th Anniversary Celebration “DAILY WORKER” | -- Friday Eve. J anuary 13 ,Doris Niles, At Jimmie Higgin’s Book Store, 106 University Place. Mecca Temple 8.15 P. 55th ST. and SEVENTH AVE. Nina Tarasova In Costume Recital of Russian Folk Song. | Interpretations | bog . . x ° International Dancer, in a Group of Russian Gypsy and Folk Dance Creations TICKETS $2.75--$2.20-—$1.65—$1.10—75e. Local Office DAILY WORKER, 108 East 14th Street. 30 Union Square. Freiheit, EE a a a —<