THE CLAY STANGGLE Devoted to International Socialism Vol. SEPTEMBER OCTOBER, 1917 No. The New Labor Movement of the West By AUSTIN LEWIS Socialist Terms of Peace By BOUDIN The Russian Revolution and Its Problems By KOLCHIN Recent Development of Capitalism in Japan By S, KATAYAMA Our Old Masters and Their Modern Substitutes By FRANZ MEHRING PUBLISHED BY THE SOCIALIST PUBLICATION SOCIETY, 115 WORTH ST. NEW YORK CITY