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SATURDAY, DEC. 4, 1920.
ful source of interminable wars, each more mur
derous and savage than the last. The only antidote
to this pernicious policy is the overthrow of the
class that formulates it.
Getting down to brass tacks, Mr. Gundy re
ports that it was shown at the Conference that
the international debt of the belligerent countries
of Europe is now 155 billion, whereas before the
war it was 17 billion, an increase of over 900.
The external debt is 11 billion to the United
States, and 8 billion to Great Britain. The specifi
cation of these enormous sums of money is mean
ingless to the average wage plug, but is sufficient
to show that the capitalist system has been
proved, in the most convincing manner, to be . un
able to cope with the crisis which has arisen in
consequence of the inherent contradictions of
Speaking of the increase of currency, Mr.
Gundy states that the currencies of the various
countries have increased enormously; Geat Bri
tain's by 250. France's and Belgium's by 380,
and Germany's by 833cr,. The effect of this upon
prices is apparent. "The condition in Germany
now is," says Mr. Gundy "that if a man owed $100
at the outbreak of the war, he could pay it off
for $4 in gold today."
Now, Mr. Wage-plug, what say have you or I
had in the matter of the issuance of this cur
rency? Absolutely none, and yet we are the people
who are affected most.
Vice-President Brand, of the Conference, show
ed that the Conference had to decide upon a plan
whereby every country could raise enough money
to pay its debts. "If sufficient money cannot be
secured by raising the revenue to pay expenses, it
will mean increased currency, which will cause
higher prices, and a deficit." A bright outlook.
"Inflation of currency and borrowing by gov
ernments and municipalities must cease" says
Mr. Brand, "and every possible effort made to in
crease the wealth of the countries by greater pro
duction, harder work, longer hours and greater
taxation." Do you get that, Mr. Wage-plug?
YOUR country was represented at this Confer
ence. "The method adopted in Sweden, United States
and Great Britain to check inflation was to
put up the rate of interest. . . . The increase in
rates in Sweden PREVENTED INCREASE OF
WAGES AND INDUSTRIAL UNREST." How
are you going to deal with that, Mr. Craft Union
ist of the A. F. of L.
The commission on international trade, a part
of the Conference, reconmmended that tariffs
must not be increased too much, and embargos
must not be placed on any of the countries. No
credit must be given to any country that does not
consider its neighbors as it does itself. It would
be interesting to have the views of the various
Manufacturers' Associations on these items. But
how, in the name of common sense, is the golden
rule, mentioned above, to be applied under a
system of cut-throat competition?
The commission on credits recommended that,
as the time lor government credits is over, credits
should be given by banks and other organizations,
to similar institutions in the borrowing countries.
There is the voice of FINANCE CAPITAL, the
Emperor of the Earth. How can any sane man
expect "democracy" to exist under such an em
pire? No, comrades, their deMOCKracy is not for us.
The howl for democracy comes from the petty
bourgeoisie, chafing under the dictatorship of
"big business." We don't count.
The Financial Conference is a confession of
failure on the part of the ruling class Forces
they do not understand are at work. Such of the
facts as they have seen fit to make public, bear
witness to their incompetency, to their pig-headed
refusal to acknowledge the economic truth of the
fundamentals of the Socialist philosophy set forth
fifty years ago, by Marx and Engels. The gigantic
machine they sought to control now control
them. They have failed.
AND THE ALTERNATIVE? THE ONLY
ALTERNATIVE. WHAT IS IT?
The organization of the workers for the control
of industry, and the distribution of the products
of industry That is the alternative. And the
means to this end? What are they? AGITATION,
EDUCATION, ORGANIZATION. Organize into a
solid industrial phalanx, form shop committees
for the distribution of literature, join study
classes, labor colleges, THINK FOR YOUR
SELVES, and when the time comes, ACT FOR