to The Menace of American Capitalism a son December 20th, 1919.
THE COMMUNIST Page Eight wealth and his connections those of Rockefeller, in the re organizing the National City Bank of New York. Another (Continued from page 4)
cotton goods agency, that of Jay, Cook and It is from the United States that able outlet for the surplus populations of Co. was re modelled and became the basis of the First National Bank of New York: the ideas emante most forcibly which Western Europe. That part of it lying to These three firms, together with Messrs.
will secure incorporation in any project of the north of the Gulf of Mexico and south of the Great Lakes and the 42nd parallel has. Kuhn, Loeb and Co. a bank whose partners international regulation erected upon a been most suitable for settlement and for were of Germantie origin, and whose relaproperty basis. George Washington, at commencement of the new republic, de the development of industry and commerce, tions with Rockefeller have been considerscribed the Supreme Court as that depart of farm culture and of stock raising by the able, constitute the central structure of United States banking.
more energetic whites of Central and Northment which must be considered as the key When America came to be railroaded, and ern Europe. Vast stretches of this tract stone of our political fabric. The Fathers are irrigated and traversed under conditions this began on a grand scale after the comof the American Constitution erected government intended to last for ages favorable for navigation by the waters drain. pletion of our most important lines left our and laid down the principle enunciated by ing to the Gulis of St. Lawrence and Mexico, contractors and iron masters seeking for new lands to conquer, there developed a Madison that landholders ought to have a and whilst neither flat nor low lying, are share in the government to support those yet within agreeable elevation for colonisa veritable mania of speculation, and Euinvaluable interests and to balance and tion by Britishers and others of like habits ropean money rushed in frantic floods into check the other. They ought to be so con and acclimatisation. The great Mississippi the pockets of Goulds, Vanderbilts, Sages stituted as to protect the minority of the Missouri Laurentian basin, as well as the and other worthies. Between 1850 and 1872, new Congress gave 155, 000, 000 acres of public opulent against the majority. The Senate, Atlantic sea board, has afforded a home for the multitudinous families ex lands to the railway corporations, advanced therefore, ought to be this body and answer them enormous loans and allowed them to these purposes. The men who are promot pelled from their homelands by the soing the League of Nations have their eyes called primitive accumulation of capitalist help themselves to as much stone and All too many on the past as well as the future, and, with landowning, as well as for the superflous timber as they wanted.
of these railroad corporations were mere a fake interpretation and presentation of and independent workers whom machinethe foundation of the US are now production drove out of handicraits. Plan legalised frauds, enabling politically acbeginning to build the structure of perma tations originally taken up in Crown grants. complished promoters to acquire public nent peace The pioneers of this project perhaps like Pennsylvania, in settlement of domain and European cash on the plea of are such men as ex President Taft, who is a debt, or obtained by lobbying and intrigue building a track it was to dangerous to now most enthusiastically supporting it about Parliament and Court in London. or. explore and, oft times, difficult to locate.
at other times, settled by the emigrés of By the middle of the seventies, the BritTaft can bring Republican backing to faith, or the pioneers of traffic and of trap ish capitalists, who had bought hundreds of Wilson, or he can withhold it, and the Re ping, the original United States drew unto millions of dollars of United States scrip publicans control the Senate. wirich themselves tens of thousands of persons from Peabody and Morgan during the Civil must ratify the Peace Treaty Taft it elbowed out by the selective process of War, entrusted Morgan Junior with the rewas who said, in his acceptance speech at capitalist competition or radical minded organisation of their properties, and for the the commencement of the presidential cam shop keepers, farmers and workmen who next thirty years, Morgan, received paign of 1912, the Republican party is the sought freedom in vain during the genera wound up, re organized, consolidated and nucleus of that public opinion which favours tion or so following upon the close of the re floated railroads, industrial establishconstant progress and development along Napoleonic War. They took passage in the ments, steamships and land companies for safe and sane lines and under the Constitu early steamships, and whilst many stayed his British clients. He charged a fairly stiff tion as we have had it for more than 100 to prosper in New England and New York, and somewhat elastic commission, years, and which believes in the mainte others pushed on across the mountains down shook in a lot of water and shook out into nance of our independent judiciary as the the Ohio river on to the prairies. The rail his own coffers plenty of cash, he saved the keystone of our liberties and the balance ways brought more and ever more to fill up guinea pig investors in European parasitwheel by which the whole governmental an empty continent. In the north the in ism hundreds, if not thousands, of millions.
machinery is kept within the original plan migrants settled to escape from the Old Morgan exchanged legal claims on other (American Socialist Campaign Book, 1912, World and to be self supporting in so far people toil for a ruling class in the main 51. Taft was and is utterly the tool of as they might. In the south, not settlers, too incapable or too indolent even to look the Interests. Bluntly and frankly he has but the servants and slaves of planters and after the proceeds of its own extortions.
denied his belief that all people are fit for companies struck along the seaboard tow From selling United States public and self government.
ards Mexico to grow cotton, to cultivate private bond and stock issue to British inThe men who meet at Paris to formulate sugar cane and to rear cattle. Merchants the League of Nations have a kindred aim and landowners in the east used their polit African War to selling British Treasury isvestors, Morgan came during the South to those who gathered at Annapolis. They ical power to appropriate the domain on to are intent upon safeguarding the financial which the European dispossessed were desues to American purchasers. He became oligarchy whose capital is New York. They ploying, and to destroy their economic persona grata with King Edward VII. and was one of his honored guests at the Coronaare patently and openly anti Bolshevist. independence before they won it.
These tion.
They may offer to discuss with it when the magnates prospered by controlling the ex nership of Morgan and Co. came The great London New York partseas are ice bound and they cannot land men change of finished products and raw ma largely to dominate American railroads, or munitions to help the propertied elements terials between the settlers and the land American iron and steel, American insurto overthrow its power. Then they parley whence they came, in exporting cotton and and, perleying, make a virtue of their open importing the fabrics of textile Britain.
ance corporations, American mortgage mindedness.
trusts and American agriculture. It swayed Many of the nobles of this country acWilson has made no secret of his hostility quired stretches of land in the United States, velt and Taft. It dictated to Grover Clevethe Administrations of McKinley, Rooseto the Soviet principle and practice. He notably the Dukes of Devonshire, Suther land. Its Steel Trust lawyer, Senator Knox, fights with other weapons than Clemenceau land, Rutland, Portland, Northumberland, became Secretary of State, and was virtual and George. He talks for months. He did and Bedford, and the Earls of Derby, Powis. premier from 1904 to 1912. It directed the with German Militarism. He creates an and Yarborough. The mercantile and bank policy of the Republican Party. Morgan atmosphere. He manoeuvres, as every ing firms of London and Amsterdam helped the Magnificent helped to establish the negotiator should, and as every general to finance American business with sterling Navy League, and was one of its most ought, íor position.
The world must, if capitalism is to pre exchange. The dry goods agents of Manlavish patrons.
chester and of London houses transacted vail, be Americanized as to its political in their affairs with the dry goods importers (To be continued)
stitutions. Economic forces, when sufficient down Wall Steet. Certain of these opened ly powerful, stamp their impress upon up branches in London, notably George political society. What has been and is the Peabody and Co. which became Peabody, drift of the world economic forces, in so Morgan and Co. and ultimately Morfar as they are capitalistic, we will now gan and Co. Then there were the great PLIES cotton brokers, who handled the essential Acour RUSS staple of Lancashire, the classic home of The North American Continent has pro ward were such a firm, and Mr. Stillman capitalism. Messrs. Stillman and Woodvided for several centuries an almost illimit went from cotton broking to contribute his Spots That Won Come Out discover The Migration of Money SOMET Autin همراهمه