The Daily Worker Newspaper, November 8, 1929, Page 6

Published by the Co! prodaily Square, New York Address and mail a Publishing Co., Tne., Telephone Stuyve: Page Six @aily, except Sunday, 1696-7-8. Cabie: 4 st Cin Rew York only): By $3.00 a year: fail (outside of New York): Wy TO { SUBSCRIPTION RATES: / $4.69 wixe(months: $3.50 ix! months; $2.50 three months $6.00 a year; $2.00 three months The Central Control Comn a Los. Angeles SDEC to expel from the P: ager of the Daily Worker and | SDEC. This action against Rav statement of Oct. ist, in revision of the line of the Sixt Gitlow, Wolfe and others, expelled the Comintern and against the Par and of the line of the Sixth Worl frame-up in connection with Lovestone’s r and otherwise slanders the Party and the Co Ravitch is trying to spread this renegade line all Party members in Los Angeles are warned to have mocking with him. former man- | = Los Angeles ¢ the receipt of his followers of the CI | the Party of | National Office, | ntern. CENTRAL CONTROL COMMIT CHAS. aoe a DIRBA, A Lovestoneite Trick I, the undersigne nailed from the counter-revolutiona purporting | t oshow that I have su 4 hereby wish to state that I have had nothing to do w of Commu- | nism and denounce this attempt to frame me up in their destructive counter-revolutionary scheme. (Signed) MAX ALLEN. Leading Trotskyists Turn Against Trotsky (Wireless By Inprecorr) MOSCOW, Nov. 7.—The Trotskyist fac Boguslavsky, have app 0! for readmission.to the Party, cond drawing their signatures to all Tr< sky’s actions and expressing unr ne of the Cpmmunist Party of the Soviet U <t International. Sixty other former opp’ ists declaration. The Working Women Takes Her Place in the Class Struggle E* By ROSE WORTIS. From the remotest corners of the world to the United States, the citadel of world capitalism, the workers in every part of the globe are celebrating the 12th anniversary of the Russian Proletarian Revo- lution. The Russian Revolution has a particular significance for the work- | ing women of the world. It has torn away the bourgeois mask of hypo- | erisy regarding woman's position in society, where on the one hand | the rich women live in luxury and idleness, while the women of the working class bear a twofold burden of slavery both in the homes and | ni the factories. The Russian revolution has placed woman in a new | role shorn of all bourgeois sentimentality, a proud and independent | worker, the builder of a new life and a new society, women with & broader vision who is ust as ready to take up a r the revolution as to devote her time and energy to the daily task of reconstruction work in the Soviet Union. | The emancipation of the Russian woman from her age-long slavery has had a profound effect on the working women the world over, and has given rise to a new trend in the movement for the-freedo mof women. Inspired by the accomplishments of the working, women is the Soviet Union, to whom the proletarian revolution meant not only economic but also social emancipation, the working women in the capi- talist countries are gradually realizing that not in allying themselves with the women of the master class can they gain their emancipation; that their problems are identical wtih that of the men of their class, and can only be solved to the extent that the prob’ of the working class as a whole can be solved. This ted at the In- ternational Women’s Cnogre Moscow in recent years, where delegates from the most back y developed countries came together to relate their expe struggle and gain new inspiration from the accom Russia. The women of the United S the women are entering the ranks of the m by side with the men workers. Here too v heroines, who, like the women of the R ents, condemning Trot- | y with the political | nd of the Commu- join with this neces in the cla shments of the women in ind. Here too orking class side our women labor evolution risk their all } in defense of their cla A ree mple of our wonen | martyrs in the class war was El a victim of the Fascist terrorism in G During the past year ged by the work- ing class of the United Stat and long hours, have been in those indu numbers. In the str of the textile wo: ford, Little Falls, and the present gigantic women workers (many of native Americe mecessity, have cast aside their superstit come out as the leaders and champions of their class interes ‘women in the food industry, the needle trades, the shoe indus are playing a leading role, fighting in the front ranks. These struggles of the working women have brought to light the hypocrisy of the ruling clas: who parate abou tthe canctity of wo- | manhood and motherhood. They have proven that where the class interests of the bosses are at stake no distinction whatever is made between man an dwoman workers; that both men and women aloke are but a means for profits to the bosses. These revolts of the women workers in every part of the country have been craried thru against the will and over the heads of the official trade union bureaucracy, whose strike-breaking role has opened | the eyes of the women workers té the effect that their only hope for organization lies with the militant trade union movement of the country —in the new nidustrial unions based omf the class struggle. The splen- did represerftation of 72 women delegates at the Trade Union Unity Conference in Cleveland is a convincing demonstration that the women workers are ready for organization and are in a fighting mood. The strike-breaking brutal role of the entire capitalist state ma- chinery in these struggles waged by women workers has not only opened | the eyes of these women to the need for militant action on the econcmic field, but has also served to awaken their political consciousness. They have come to recognize the role of the capitalist parties thru their state administratio: They have also become acquainted with the role played by the socia! party, as expressed by its mayoralty can- didate, Norman Thomas, who, while the Ay aig leaders were on trial solidified himself with all the enemies of he workers. These women have also learned that in all their struggle the Com- munist Party and its press has championed their interests, has helped to organize the defense of their prisoners, has guided ahd encouraged them. They have come to learn that not olny in their struggles, but in every fight of the workers against the bosses the Communist Party fights for the interests of the workers. They have come to know that the Communist Party is the only political party of the working class ‘that is really fighting against capitalism, that is unmasking the paci- fist propaganda of the capitalists and their lackeys of the Socialist Party. it are working women of this country are beginning to realize that the finely phrased speeches of the Miss MacDonalds on the pacifist aims of the imperialist governments of Great Britain and the United States are but a smoke-screen to cover up the real facts from the ‘working women; that behind these phrases the roar of cannon can already be heard, particularly directed at the Soviet Union, which is successfully gonig on with its work of social reconstruction. The time 4s fast approaching when the women workers, who have been regarded by the bosses as a reactionary force, an instrument to be used agéainst the men workers, will assert themselves, and just as the women of Russia wil] take their place in the struggle to overthrow sm. _ In the present election campaign that is going on in this city the workers, who have fought bravely and heroically on the econ- must a expression to ee spirit of militancy on the . Party, of peorking class ic, New Bed- ruggle in the south, the reed by economic and prejudices and have The werercess ma Safe ‘The Meaning of the Stock Market Crash By LEON PLATT. Within the last two weeks there took place the most serious and one of the greatest stock breaks that ever occurred in the financial history of the United States. The careful consideration of the causes of the present financial crises and its effect on the economic future of the U. S. is of great importance to our Party and to the American | working class. The fact that this great financial bankruptcy took place in the so- called era of capitalist “prosperity” is in itself a factor deserving spe- cial consideration. Though the financial history of the U. S. knows many financial catastrophies that shook the country to its foundation, yet the financial break that occurred recently has many significant features which are a specific outgrowth of the present day position of American capitalism. The capitalist class itself considers the recent stock crash the great- est that ever occurred in the United States in a “peace” period. The recent events on Wall Street most emphatically exposed the rotten foundation of American capitalism and of decaying world capitalism generally. It shows that capitalism is unable to prolong its existence by artificial means. It completely exposes the parasitic nature of capi- talist economy, which itself is undermining the very roots of capitalism. THE CAUSES FOR THE STOCK CRASH. The capitalist press, widely read by the working masses, refuses to make even an attempt to reveal the causes of the recent financial crises. The most powerful banking intrests, high government offi- cials, and every organ of capitalism is attributing the collapse. of the financial market to confusion, psychological effects, over-specualtion, unsound judgment of the investor and other such reasons. Every form of capitalist propaganda is, continuously issuing statements that the crash on the stock market is accidental and is not a reflection of the industrial and economic conditions in the United States and, conse- quently will have no effect on the future course of industry, trade ‘and employment in this country. However, the observer of the recent events on the stock market, the reader of the financial press will clearly see, as it will later be proven that the stock crash was not an accident, but a direct result of the existing economic conditions in the United States and that the col- lapse of the stock market could not have been avoided. The more ser- jous financial organs of American capitalism are forced to admit this. The Magazine of Wall Street of November 2, writes editorially: “Could the debacle which is undermining public confidence been avoided? Alleviated or postponed possibly—but not en- tirely avoided—is the honest opinion in and out of Wall Street.” No one will deny that there was speculation—in a simple language gambling on the stock market. However, this speculation is not a phenomenon in itself but a result of certain economic conditions exist- ing in the U. S. at present. For us therefore are important the econ- omic factors, that brought speculation on the market and made it the source of income and the method of capitalist accumulation. To understand the causes of the stock crash, one has to take into consideration the economic conditions in the country today, which in brief are: the growing disparity between production and consumption and consequently growing overproduction and existing surplus capital looking for spheres of investment. The shrinkage of the market, which is becoming more accentuated-through the diminishing buying power of the masses, through the permanent agricultural crises and increased output of capitalist rationalized industries, The struggle for markets becomes more sharpened with the par- tial recovery of European industries and increased resistance to Amer- ican competition on the world market. ‘ All the above mentioned fac- tors combined are continuously narrowing the spheres of investment of the surplus of American capital. To meet this situation American capitalism further consolidated its position on the inner market, through established higher tariff rates. It increased its investment in distributive industries, it developed a large luxury and semi-luxury trade, increased its investment in amusement corporations and other unproductive enterprises, The parasitic nature of capitalism making huge profits by. per- jodically cutting coupons and trading on the stock market is not a new phenomenon. In the present period of finance capitalism, the capital- ist only further becomes divorced from production and parasitic meth- ods involve ever larger sections of the capitalist class. American capitalism finds itself.in a position where speculation on the stock market offers a tremendous outlet for its accumulated sur- plus capital. However, the great profits made on the market was in the sale of stock whose value was artificially fustrated far above their real value. Such accumulation certainly could not be maintained for very long. Yet prior to the crash the Annalist (published by the New York Times) of October 18 wrote: " “It is pretty plain unless the observer wants to «deceive * himself, that we have on our hands an inflationary situation of very great possible peril, and that we,do nothing by way of remedy, except to let nature take its cours®, . « Ng “ The parasitism of capitalism was further demonstrated by the continuous flow of worthless “water” stock, completely out of propor- tion with the total capital assets of the corporation issuing such stock. This situation only further undermined capitalism and led a the in- One of the most, serious” ea ieseting Wall “Let it be stated with positiveness . ... that this market has been flooded for some time before the actual breaking of the panic, with perfectly worthless issues.” Another form of capitalist piracy that led to the present finan- cial crisis is the bankruptcy of the small investor. We here only want to mention, those from whom money was extorted for the right to sub- seribe to additional or new stock issued by corporation. The capital secured from such transactions was never fully invested into industry. From the compilation of the experiences in such investments it was proven that in 1928 from a billion dollars obtained in such manner, only a half of it was used for improvements of plants and equipment, the other half was reloaned for stock trading. The value of such in- vestments are best described in the above mentioned editorial of the Journal of ommerce. “These tights in many: cases proved to have a Value that was entirely illusiory—they were as rotten as the otHer typs of securities already referred to.” Thus what took place on the stock market was not an accident but a direct outgrowth of the present economic conditions in the United States, which are in turn a direct result of the present day contradic- tions of capitalism—the limited possibilities of American capitalism to invest its surplus capital in production and in productive enterprises, and therefore having to resort to stock trade on a grossly inflated basis which led to the unavoidable financial crisis, The situation today is not a local one. Even the bourgeoisie must recognize that capitalism as a whole is threatened and not any par- tieular branch of capitalist economy. “It is not true that the present situation is a localized evil, which hurts a small percentage of the population that has been engaged in “gambling.” It is a national situation and it needs a national remedy.” (Journal of Commerce, October 31.) The violent stock speculation involving American capitalism as a whole, the nature of American prosperity was based, in spite of the relative continued activity of American industry not on the actual present earnings of capitalism, but on its perspective earnings. The violent readjustment on the stock market, which must also take place in industry had to come the moment capitalism lost its balance. The present crash on the stock exchange already represents with itself not only the entrance of American economy in a crisis period but it also means an outburst of the undermining factors, which for a long time existed in American economy but were concealed in the “prosperity” of American capitalism. CAPITALIST STABILIZATION AND THE STOCK CRASH. In the present financial crisis the apologists of capitalism state that “business is sound,” that “what took place on the stock market will not affect industry, trade and employment” and the public is urged to buy stock and have faith in American prosperity. President Hoover, Assistant Secretary of Commerss, “us Klein, Lamont, and other giants of the financial world make statements that the financial crisis is not effecting American economy as a whole. In other words according to them, industry and finance are two separate things and are not mutually interconnectéd. This bourgeois theory is shear non- sense. It is advanced with the purpose to hide the damaging effects of the violent stock break on the entire industrial and economic sys- tem of the United States. Lenin long ago established the theoretical truth that the present era of finance capi tal means fusion of banking capital with industrial capital, and consequently a crisis in finance capital must have its inevitable effect on industry. The more serious and critical organs of finance capitalism have to admit that. The Journal of Commerce of October 31 writes: “Business has already suffered as a“result of the panic con- ditions on the stock market. It will suffer further. The suffer- ing will be due to the fact that sound finance is essential to sound business.” The Journal of Commerce of November 4 had to admit that Presi- dent Hoover, and the assistant secretary of commerce are talking non- sense when they said that business was not affected by the stock crash. “The statements that have come from Washington sources about lack of connection between speculation and business are, of course, as nonsensical as they are dangerous to those who believe them.” _ It is true that in the crash were hit first and completely wiped out the small investors and speculators. However, one of the out- standing features of the created financial situation is that large finan- cial corporations were also affected. The. capitalist press speaks of the “great losses sustained by bona fide investors.” Today the great investors and speculators on Wall Street are also the ‘directors and owners of American industry, who in the present period of decaying capitalism have to resort to stock speculations as a means of capi- ban aceumulation, The financial capitalist press is openly admitting fact: “There is no such separation between speculation and busi- ness even in theory, while in fact the heavier speculators have been active business men, who in too many cases have allowed themselves to become involved and have been crippled by the decline of the security prices.” (Journal of Commerce, No- vember 4.) ‘ Of cotirse the Journal of Commerce speaks of “allowed them- selves to be involved” without seeing the fact that capitalism could not help itself and had to follow this course. THE CITY. ~z2" OF BREAD Reprinted, by permiasion, from ‘The City of Bread” by Alexcader Neweroff, published and copyrighted by Doubleday—Doran, New York. (Continued.) Silent and endless, the Kirghiz steppe holds them fast in its embrace. Broken-down locomotives litter the road bed. The engine works its steel elbows up and down, pants frantically with exertion, but never seems to get away from the spot. It schrieks for help in its hoarse voice. It patits, exhaling a dense white cloud of steam. The white steam melts away, mingles with the black smoke from the stack, . The wheels rattle, the car trembles. The Kirghiz steppe refuses to let them go forward, silent and endless it holds the train fast by its winding tail; only when it comes toa downgrade, the engine tears loose madly, turns its head at the surves, snaps in two, winds along like a slender snake. It bears down on the bridges with rollicking wheels, snorts in exultation, works dilli- gently with its steel elbows. Now it leaps to a hill like a freightened hare, now it drags its long still tail behnid it, with the painful effort of an old man, Mishka lay and looked out happily at the wide Kirghiz steppe, the distant smoke rising from a “valley, the big camel that held his small head high. The camel looked at Mishka’s train, turned his small head on its arched neck from side to side, then plunged his black lips into the thorny weeds by the wayside again. Not a village in sight. Only bald mounds and vultures of the steppe perched on the mounds. But the sky was as it was in Lopatino, and the sun as in Lopae tino too. “A soft little wind blew in through the open door. The mujiks lay stretched at their ease, wrapped in contented dreams. Beards pointed peacefully upward, pails and kettles clattered rhythmi- cally. One mujik was picking at the spot where a flea had alighted, Tnother pulled a louse from the seam of his shirt, squashed the un- fortunate on the lid of his wooden chest, and laukhed. “A good louse—pity to kill it.” “What do you kill it for then?” “For traveling without a pass. He creeps under my shirt and sits there, so the Tcheka won’t find him. He rides quietly for two stations, then starts to: bite me. I carry him, and he bites me— the sly little devil!” The whole car roars, rocks with laughter. Only Yeropka, the little mujik, gazes sadly at his watch. He had spent a long time at the Orenburg market looking for some simpleton to buy his broken watch. But he had not been able to find one. His comrades laughed at him: “The fools have all died, uncle, you’re the last one.” A sad business for Yeropka,-the little mujik. He opens the watch case, and sits there staring at it gloomily, as if it were an ulcer. Beneath one lid the hands stand motionless, beneath the other the wheels refuse to go. Twelve thousand rubles thrown out—gone to hell! And for twelve thousand rubles you can buy fifty pounds of wheat. Absolutely gone, damn fool!—he would never forget it. Showld he smash the cursed watch against a rock? That would be a pity! The twelve thousand rubles sucked at Yeropka’s heart like twelve leeches. His head was confused as though. he had been drunk. The mujiks teased him: “What time by your watch, Yeropka?” “What, Yeropka, till not ticking?” “He's twisted its head off by mistake.” “You'll get some ont to buy it all right. A thing like that never loses its value. Only you mustn’t show it to any one when you sell bares The car roared, the peasants amused themselves with Yeropka’s misfortune. Semyon with the red beard had picked up four women’s skirts at Orenburg. At first he was delighted with his purchase, had already reckoned the profit he would make on them. But when they had gone two stations, he began to regret it. A disquieting rumor*was going around the car. The Kirghiz women and the Sart women.did not wear skirts at all, but went around in trousers like men! Semyen with the red beard crushed the cursed skirts together savagely. He let his head fall on his sack, and lay there nose downe ward; then he jumped up again with unhappy, baffled eyes. He cursed the Bolsheviks and their Commissars (as if they were respon- sible for everything!) cpat, ground his grief between his teeth, and once again let his head fall upon the sack. Iva® Barala was trying a boot on his left foot. three pairs and was as happy with them as a little child. ones they gave three poods of grain, but his were not old at all. Barala scraped the soles with his nail and announced loudly: “You can wear them two years vets by God! Soles like iron— couldn’t cut them with a knife .. . Mishka felt better. If the Kirghiz women wore trousers, then it didn’t mattér about Anis grandmother’s skirt. Anyway,\he wouldn’t have got much for it— it was an old one. He felt his knife, smiled to himself: _ “Sharp as a razor! Cut any stick!” Prokhor circled about Mishka like a pigeon, started conversations with him, snuffled through his nose, mumbled ingratiatingly. Pretty good, if the boy’s uncle really was a Commissar. All sorts of people nowadays. Some grown-ups are good-for-nothing; then agani some young ones can hold their own with the best. Better stick to him! He might be very useful some time. Prokhor’s beard swung back and forth like a pendulum before Mishka’s nose, and Prokhor’s voice was friendly, enveloping Mishka from head to foot. He drew out his bread wallet and handed Mishka asmall piece. — “Take it, Michael!” “Why don’t you eat it yourself?” “Go ahead, eat, don’t be ashamed. When you have some, youll give to me. One must act according to the word of God... .” Mishka took it, and announcd airily, blowing on: the dusty morsel? “My uncle is going to give me half a pood of dried apricots.” “You?” “My mother.” “Apricots—that’s fine stuff—but they must be very dear?” “Certainly! But what’s that to my uncle? He’s rich!” Mishka spoke like a regular grown-up mujik, he wondered at him- self: “What fools they are! They believe every word! .. ... (To be Continued) ‘The Japanese Say It With Flowers The bourgeois gab-fest of the Institute of Pacific Relations at Kyoto, Japan, designed to allow colonial and semi-colonial intellectuals assume,an importance imperialist realities deny them and to serve as a field of imperialist intrigue against colonial revolution, contributed a bit of sarcastic repartee the other day, when the Chinese (who ac- tually spoke for American imperialism), upbraided Japan for its im- perialist position in Manchuria and were answered by the former Jap- anese ambassador to Washington, Hanihara, that Japan’s relations in Manchuria were the same as those of United States in Cuba and He had bought For old Ivan i Haiti, and that Japan was unable to from a position based on national necessity. Short of letting them smell pes pyhead that is plain Amarican imperialists could expect f1 (