Page Fight THE COMMUNIST December 27th, 1919.
The Menace of American Capitalism.
fact.
and had, just outside Penn city of Philadelphia, a cynical memorial to Christian (Continued from page 4)
brotherhood busy on 250, 000, 000 of muni.
tion orders in the biggest ordnance factory All this means that Standard Oil has sponsibilities and extraordinary opporon earth. Charles Schwab, its president, crept into the monetary domination of South having under his control the Union Iron tunities. We must as a nation think Bulletin internationally, America, the Far East, and is a powerful Works at San Francisco, the Fore River foree even in India, and what were European Yard in Vew England, and other establish9 1017.
The Bulletin commented on this speech preserves of British and French capitalism. ments set out to lielp the Government transas follows: form the United States into one huge facWilsons Sea Shuttles This new slogan for the United tory for the production of ships. He, first States industries was thus started eighBanking and exchange were the first con of all, bought up several big steel works, put teen months before the big Republic siderations, and after that, the provision of a down immense new rolling mills for shipactually entered the European War. It native mercantile marine. This the ubiquit plates, and proceeded to lay out new Bethlehas now been widely popularized, as ous American International Corporation set hem yards in California and in New well as intensified by that tremendous out to obtain. It began by taking over the England. Then, says Syren and Shipping Pacific Mail Steamship Company and then (Jan. 1, 1919. he was persuaded, on the This American International Corporation acquired the New York Shipbuilding Com personal appeal of President Wilson, to be has groin to to be an incomparable influ pany. In April, 1917, the Vice President of come Director General of Shipbuilding. By ence in American and World politics. The the Corporation stated in International October of last year, the Congress had next step in its onward march was for the Marine Enginering :voted 449. 000. 000 for shipbuilding purNational City Bank to acquire, by consent We are generously equipped, ready poses. Great inland bridge building plants of the Federal authorities, the stock of the to begin our struggle for our place upon were employed turning out standard frameInternational Banking Corporation. This the ocean. We have arrived at a work which was sent down to the coast to concern was formed in 1901 and was the crisis in our commercial history. If be assembled into ships. By the autumn of pioneer American bank to organize and we grasp it our trade will be immensely 1918, the Official Bulletin could claim operate a system of foreign branches. For extended.
that they had more yards, more ways, and seventeen years it has been specializing in Meanwhile, McAdoo had set up the United more workers than any other nation, in the finance of American trade with Asia, States Shipping Board and, in this very fact, that there were now 200 shipyards with particularly China and the Philippines. month, established the United States 1, 020 building berths. The deliveries to (Board of Trade Journal, Jan. 16th, 1919. Emergency Fleet Corporation, a Federal the Shipping Board in August. broke all Its formation was the outcome of the wide concern in which the Government held world records in the production of oceanspread interest in Oriental trade, which was a majority of the shares, and which, with a going tonnage, and established the United oused by the United States obtaining con capital of 51, 250, 000, set out to purchase States as the leading shipbuilding nation of trol of the Philippines. Its Shanghai office and build ships to charter or to lease the world. The aim of the in regard was opened for business on May 15th, 1902.
citizens to operate in the foreign trade. This to the shipping was officially put forward The Peking, Hankow and Tientsin offices new Corporation not only took over all the by the head of the Shipping Board when he were opened a few years later, the first for interned German and Austrian ships lying said :the purpose of assisting the American group in harbors, but by the autumn of 1917 Our railroads must no longer stop at which had just become interested in the the Shipping Board had requistioned every the ocean. We are building a merchant Chinese reorganization, or Six Power Loan. ton of shipping under construction in fleet of 25. 000. 000 tons. Vast American The Corporation has subsequently acted as American yards. The larger part of these passenger and cargo liners will run the financial agent of the American group in vessels were being constructed for English regularly to every port in Latin Amer China.
companies. This drastic action placed in ica, the Orient. Africa, and Australia.
Its office in Bishopsgate, London, is at the hands of the Shipping Board 403 vessels Cnce more we shall have a real present the designated depository of the or 500. 000 tons. Worlds Work. Dec. merchant fleet under way, backed by War, Navy and State Departments of the 1917. About this time, the American Inter far reaching policies for efficient operUnited States Government.
It is reprenational Corporation secured from ation.
sented most influentially on the board of the Morgan and Co. control of the International No wonder The Compendium remarked Russian Corporation Ltd.
Mercantile Marine Co. and others of the in September last :The parent, American International Cor fleets of the White Star, Leyland, American. On the high seas, the war is already poration, includes several great firms of and other lines, and a community of interest won.
But America is only beginning.
public works, harbor and hydro electric con with the shipbuilding firm of Harland By the time her programe has been tractors, such as the Siems Carey Construc Wolff, Ltd. Since that time, the Belfast carried out she will be leading the world tion Company, which, in 1916, sought and firm has been making vast extensions on the as a ship producing and ship owning obtained Chinese consent to build 2, 600 Clyde, at Liverpool and elsewhere. It was state. in the new league of nations.
miles of sailway and to engineer a Grand this deal that caused the Federation of Britain will cease to be the predominant Canal Waterway only to be balked by British Industries to send out a frantic maritime party.
Japan on both occasions. All these firms It is the 90, 000, 000 of ships belongdesire, with the Federation of British In ing to these lines which the GovernThese ships are to carry American exports dustries, to win access to Siberia, the most to the uttermost ends ofthe earth and to ment would not permit to be sold to a Britgigantic prize offered to the civilized world ish syndicate, whose alternate kicks and bring back the imports in which the world people will pay their tribute to the National since the discovery of the Americas. They sqeals have been causing the writer much City Bank of New York and all it represents.
know how the contractors entered Mexico to amusement during recent months. The (The third installment of this informative story build railways and remained to possess the Hamburg American Nord deutscher Lloyd will appear in The Communist next week. material basis of its political super structure. and American pool steamships, before the They do not believe in military violence, but war, did a prodigious trade to the East, to in commercial penetration and financial per Central and South America and to Europe, The Red Army meation.
are now under the control of the American (Continued from page 5)
The National City Bank has developed a International Corporation, the protection strong connection with South America, of the Emergency Fleet Corporation over to the Soviet lines. Courses of inwhere Wilson son in law, William Gibbs and the sprcading fulds of the Star Spangled struction for the illiterate are held almost McAdoo, concluded a series of commer Banner.
every day, and one Red Army has a movable cial agreements in 1915 with these debtor To beat the German submarines, the university attached to it at which lectures republics, left derelict by the drying Emergency Fleet Corporation embarked on are delivered by members of the War Counup of European investment markets, and a colossal shipbuilding effort. It made the cil, of the Political Education Department, made it possible for them to dispose of their American International Corporation its etc. Nothing is left undone to permeate the crops by dollar instead of sterling exchange. agent, and this body founded the American Red soldiers with the Socialist and RevoluThis bank now runs a special magazine, International Shipbuilding Corporation to tionary spirit and to impart to them a clear The Americas, devoted to the Monroe look to its shipbuilding business. world understanding of the war aims of Soviet Doctrine and the cult of Pan Americanism. record yard was laid out at Hog Island on Russia. Of course, the Red Army gets all At the end of 1917, 400, 000, 000 of South the Delaware, to construct fifty ships simul the papers which are published in Russia, American commerce had come to be trans taneously, and to build into them 500 tons but has several papers of its own, which enacted in dollar exchange, where London of steel a day. The Bethlehem Steel Cor joy great popularity, as the contributors are ruled before 1914.
poration had been making enormous profits for the most part the soldiers themselves.