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The toiler. (Cleveland, Ohio) 1919-1922, December 18, 1920, Image 14

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Persistent link: http://chroniclingamerica.loc.gov/lccn/sn88078683/1920-12-18/ed-1/seq-14/

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MflB 14
SATURDAY, DEC. 18, 1920.
antil I hear from reliable authority that these
criticisms would be justified. And we have heard
thing of the kind from such authority. It is
sly from the avowed defenders of capitalism, or
from the far dirtier renegades from the working
dass movement that we have heard such things.
And anything proceeding from them I take with
a large grain of proletarian salt.
I am sorry for the Anarchists. I am sorry for
Anyone who gets in the way of the marching
working class once it really gets started. But I
am certainly not going to whine about them, nor
am I going to stab the Russian workers in the
back, because of them.
Chairman General Executive
By J. I R.
Bruce Barton in an article "Just What Would
Bolshevism Do To Me," lays particular stress
opon the confiscation of the small capitalist's
bank-savings in Soviet Russia. Just think of it;
aonfiscating peoples' bank-savings !tt Isn't- that
tyranny? Isn't that taking their food, clothing,
abetter, comfort and happiness away from them?
Now the question arises, is this a thing which
governments are not immune from confiscating
peoples' bank-savings? Or is the confiscation
"moral" based upon whether it is a capitalist gov
ernment or a workers' government which is be
Sind the confiscation. If we are opposed to total
ooofiscation; why shouldn't we be opposed to
partial confiscation? Why shouldn't we be op
posed to confiscation of bank-savings-buying-power
through depreciated money? If the Soviet
lovemment of Russia confiscates the capitalist's
fcank-savings, then isn't it only doing the same
thing as the capitalist Governments did and do?
Didn't the German capitalist government issue
cuh a large amount of worthless currency that
the German mark has hardly any purchasing pow
er? Didn't the Italian government, depreciate the
Italian lire from 15 for $1.00 to approximately 30
for $1.00? Didn't the French government, and its
nIBes, depreciate the French franc to somewhere
m that proximity? Didn't the English govern
artrat, and its capitalist statesmen, depreciate
Hte English pound from the neighborhood of $4.86
to the approximate amount of $3.48? And havn't
these governments' activities caused all the sub
wjiinate nations such as Poland, Norway, Sweden,
ItetvU, Finland, Holland, Austria, Spain, Egypt,
India, Australia, Canada etc. to have depreciated
money, depreciated money of account, depreciated
deposit accounts, depreciated currency, and depre
ciated bank-savings?
Doesn't analyzing this manifestation of the
world's capitalists and capitalist governments'
confication of bank-savings-buying-power through
depreciated money bring to your mind a parallel
confiscation equal to Soviet Russia's? Only Soviet
Russia's confiscation expropriates the capitalist
class ; whereas the capitalist nations' confiscation
by-depreciated-money expropriates the working
class and those that are being precipitated into
the working class.
As a conclusion let me quote from page 68 of
'The collapse of capitalism' Herman Cahn: "The
insolvency of the banks involves the social insol
vency. The latter refers not merely to the public
debts, now so great, not even merely to the entire
class of negotiable titles to revenue, such as bonds
and stocks, nor even all money obligations it in
cludes the impossibility of paying for raw mate
rials or wages. The gradual undermining and
sudden collapse of the whole world's banks de
stroys the great bulk of the money so indispens
ible under capitalism. Only tijie bulk? Is it think
able for a moment that when production is par
alyzed and before it can be resumed on a complete
social basis the only basis then possible that
the necessaries of life will be at the exclusive
disposal of those who happen to be so fortunate
as to have some pocket money? Of course not.
Gold and tokens will be outlawed instantly. The
hour of money has struck."

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