Attack on Leon Blum Prelude To Fateful Election Contest
Garwy, Peter
Attack on Leon Blum Prelude To Fateful Election Contest Force, of Democracy and Socialism Mobilize to administer Crushing Defeat to Fascist Reactionaries By Peter Garwy Our Special...
...Inflation may be a good thing for same these who ewe money on contracts made dariag a period of high price* and cannot repay because of comparative existing lew prices...
...But for that matter, deflation is equslly bsd for the worker for falling prices destroy profits and cut dOwn business- activity, with the...
...It is not the first time that nationalist reactionaries have resorted to killing as an argument in political contests...
...This is about 60 per eeat Sttere than they held t«o year* earlier and about three and one-half as much as they held in 1929...
...Tats is hdssfiaa...
...The Anti-Fascist Laws This was immediately realized by the left group of the French Chamber...
...So yea see, Henry gets it coming and goto *™?%HeArta...
...all, the French working classes, who are visibly gathering {their forces to turn from the defensive to an offensive against the fascist reactionaries, is also of tremendous international importance...
...Most people think of this the other way around...
...Any rise in the price level constitutes inflation...
...This time, however, there was not merely the murder propaganda of the "patriotic" press, but also premeditated action by the organized Fascist League, who systematically creates an a n t i - Marxist mass psychosis and prepares for civil war after the fascist pattern...
...First of all inflation is a relative term...
...Before the day was ever, the Government gave proof of its determination and ability to act decisively...
...BuT when the bonus bill was Wnflp1,'ilitfMitd'JitJen .fiiHiet mil fi raised by issuing bonds or certificates of indebtedneas, the hern* "s©und"aad no serious obi^tsSasMt»wHatt^Bff^Mn»t^if^ ^fc*a-»**^~^.' difference m paying the bonus°bJ treasury issue and by treasury bonds, as has already been indicated, is that one method has no profit eWtmre *ad the-other...
...And it was no accident, either, that the attempted assassination of Jaures' disciple and closest follower, Leon Blum, coincided with the war-menacing aggravation of foreign political conflicts, discussion of - the Franco-Soviet mutual aid pact and the expected stiffening of sanctions against fascist Italy...
...The "banks which are members of the Federal Reserve System hold in excess of twelve billion, dollars of the' Governments' obligations, direct debts or contingent guarantees...
...As such ft is one type of inflation...
...Then as now, instigation to murder by the reactionary "patriots'' was chiefly responsible for the crime...
...wants his pay envelope to have steady purchasing power., The capitalist system with its cycles of booms and depressions, periods ef high prices and law tsttea, inflation^ r*^^><^^^^^^^^^^P to mainta^mm^f^n^^moded price-arid profit system the, worker is made the goat.*" Is the goaf xiu to the ass...
...The systematic incitement to murder by the French admirers and imitators of National Socialist methods against leaders of the left parties could not but inevitably lead to the tragic events of Feb» rnary 13...
...This inmade' poTs i b Te^i^^ew-aeal** Irsrma sJf ^aiiillsaa...
...This may go to another bank or come back to the same bank...
...Unfortunately, the demand of the Socialist group for th» arrest of the ideological instigators of the misdeed, Lean Daudet, Maura* and Pujo, was not heeded...
...The new deposit may be drawn against the check...
...mg with it the interett burden for w&amt ^at^MiTinnate* to the bsnkers...
...The anti-fascist laws, one .recalls, were already passed by the Chamber under Laval, though after ever, of the adoption of these laws, a rather strange interlude during which, on behalf of the leader of the fascist "Croix de Feu" (Colonel de la Rocque), the right-radical Deputy Ybernegarais, hypocritically offered the Left mutual disarming, and the offer was at once accepted by Leon Blum...
...The sssaolt upon Leon Btum clearLrsssi r> tsrs leniency am tion "of how**necessary and how useful Laval's fall has been...
...When it makes the...
...In this wsy the deposits of the banks increase and decrease as the banks increase and decrease their assets through their tending and investing policies...
...Did the American people went to.-alJrHpliltta same.harrowing experience of , these unhappy countries...
...Then, too, the nationalist press was poisoning the political atmosphere with murder bacilli and the physical perpetrator was to be' regarded only as its blind tool...
...The fascists ever since could not forgive the Socialist leader for thwarting their transparent maneuver, thereby making possible and forcing through the immediate adoption of the anti-fascist laws...
...It is in France that the fate of European democracy and European peace will be decided—the two prerequisites of the forward march of Socialism...
...That deposit is gone —liquidated, we say...
...This is titat the snore assets the banks have, the more deposits they have...
...Inflation injures the creditor dans because income on their fixed investments loses in purchasing power...
...The fascist reactionary forces have opened the election campaign with the assassination attempt of February 13...
...It will be up to the People's front, which is organizing a mighty wave of demonstrations throughout the country in order'to give the fascist leagues a clear demonstration of the irresistible will of the masses to protect their freedom and democracy...
...The result is that the government has increased its debt during the period of the current dollars...
...In spite, howthe Fascist I iqanaa hams not baenv fflslwfosn~iW*fn W''I nss of the time in order to adapt themselves to the changed legal status...
...ad infinitum, to forestall all these social evils it should he dathaJaV to eofitinue the process of pflmg up the federal debt by bond issues which enrich the bankers...
...Only through a miracle did the Socialist leader, the most hated by the fascist reactionary forces, escape the murder band that attacked him...
...On the eve of the great war, the renowned Socialist leader and apostle of world peace, the unforgettable Jean Jaures, fell victim of a dastardly assassination...
...It takes the borrower's promissory note which it includes among its assets, and in exchange writes * deposit In ins account...
...Imh n^»aij'jb,.»-a*_" m'tj, . ^^^^^^^ sTv#snl areata^ • Pal WD4n / 01* w«emC gTrmrt "off am met^menV^rree love, atheism, destruction of home and fsmily, etc., etc...
...To understand why ^ls 'is'w>4'w* must appreciate a fundamental principle of banking...
...They think that the more deposits the banks have the more assets they can buy...
...If dots not take anything from any other deposit...
...Still, with this admirably quick action of both the Chamber of Deputies and the Government, the case is far from being closed...
...For this reason, the forceful reaction of democratic France and, |first of...
...It will now be brought before the French people, who, after the assault of February 13 will, no doubt, reject the introduction of Hitlerite methods of political murder...
...The perpetrators wore the badges of their respective leagues...
...They pointed to France, Germany, Italy and Russia...
...It was no mere accident that Jean Jaures, the apostle of peace, was assassinated by a "patriot" on the eve of the world war...
...And the tragedy of it all Is that so many people believe the story 1 the bankers, thus making it possible for tail group to control and dominate the entire economic ays- j tern, v^^^^^ ' «_^n^ term...
...Since February 1933 the federal debt has expanded some ten bfflions...
...What the bankers want us to believe is that the money they create by the strokes of a fountain-peh on bank ledgers hi good, sound money, hat the money created by the government and secured by all the wealth of 'the nation is bad, unsound money...
...subtraction from his account it adds nothing to any other account...
...When Congressman Wright Patman ofrOTs" proposed Set the payment of the soldier's bonus should be made by direct treasury note issues, the hankers and their economists set up a howl from one end of the country to the other...
...French Democracy For it is the fate of freedom and peace that is endangered by the fascists in France as elsewhere...
...Only the heroic intervention of a handful of building workers saved the gravely wounded and bleeding leader, Leon Blum, from death...
...Sure enough, Congress has been rery generous to the banks by turning over this constitutional Vrr -'-[ r "1 1 i,-" i ii 1 nil, i- i \T„ jS^N^fcilitV'w** w hmm Jh*ti^~<Swmmjg* **sfW H ase^BM&^^^a^aB^^HS...
...These banks have resources in the country...
...The bank reduces the borrower's account by the amount of the loan snd returns his note.to him...
...pi^";%»^aa^^^^a^^^aj|ay^y, j...
...They obey their "leaders...
...Down with Sanctions...
...ft is Ian erenta* Off tLp-k—ss- ir/hfM*m ^me^flw ffcgfi #*kah a** .^sw^^^^er a^s^SrSpW ..^ewamBsesems^v , "^pej^om - wpaip fewHfc t^intorest^oT'the 'bondt^VVhln ttetoker beaw tids ipre?**^ as to suggest that the government rtiwM «BMiaele in on^tbe poor jlaaaii^^tBa^^^aTll dmv stitution gives Congress the sole power to create money aad to regulate its value...
...Well, that', what the Patman plan of paying the bonus by treasury notes...
...result that he loses his job...
...It will, first of all, be up to organized labor, which forms the foundation of this People's Front and is the bulwark in the struggle for freedom and peace...
...To issue printing-press money to nay off the bonus would mean the beginning of the end...
...By Irving B. Altman Editor, The People's Money IN order to keep'the banks ear relief—direct-relief, not workreMef—the government has been resorting^ the practice of**orrowing credits from the same bankers to make good the growing deficits...
...The decapitation of the Left as a prelude to civil war, therefore, had to be thwarted and frustrated by lightning and drastic action of the State...
...In either event the deposit is used as money and remains in existence until the borrower re^ pays the loan...
...Spontaneous" was merely the "deed" itself when by chance they ran into Comrade Blum, but death to Blum has long been on the, "order of the, day" of the fascist leagues, openly propagated in their press and plotted in their conspiratory centres...
...Inflation is bed jdsr the worker because his wages PU1 net keep pace with mounting prices of food, clashing ami shelter...
...ISie Inflation and Deflation Hit Purchasing Power of Workers Government Credit from Banks Is Inflation, Too, But Money-Lenders Who Collect Interest Approve...
...There was immediate and complete response on both sides...
...It was no accident, finally, that the raving assailants of Leon Blum shouted, as if possessed: "Death to Btum...
...Whert the Roosevelt administration came into power the Federa 1 debt amounted to twenty billions, now it is -Up to jsfnr flirty billions...
...Within a few hears the necessary decrees dissolving the "Ligue d'Aetkm Francaise," the "Federation des Camelots du Roi" and the Federation des Etudiants d'Action Francaise" (which is the Student Organization) were voted by the Cabinet and took immediate effect...
...Therefore, when -the banks increase their holdings of government bonds by such large amounts, they are creating additional deposits, and these deposits circulate in the country as money...
...Attack on Leon Blum Prelude To Fateful Election Contest Force, of Democracy and Socialism Mobilize to administer Crushing Defeat to Fascist Reactionaries By Peter Garwy Our Special Corretpondent IT was to be expected...
...The assault upon the Socialist leader was not the act of a single misguided person but of a gang consisting of members and adherents of the semi-military "Action Francaise," the monarchist "Camelots du Roi" and the fascist "Croix de Feu," all of whom are organized and trained after the manner of the Hitlerite Storm Troops...
...Hi a n i ttm % ' mft b' lugs OI gov eramenX DOuub fly* IHW hanks have financed these expenditures...
...aaaj And it Is the latter method, carry...
...The left parties of the People's Front will have to: turn this campaign into a crushing defeat of the entire reaction...
...v,-,;.a'.r m...
...Their economists and financial harlots of the . press east up pictures of social horrors and economic chaos that would ensue as a result of setting the printing presses to work...
...At that the reverse of the lending process takes place...
...To clear this Up we need but consider what hap^ pens When a bank makes a loan...
...The "Delegation des Gauches," the federation of left parties from the Radical Socialists, down to the Communists, under the leadership of the Socialist group in the Chamber, immediately set the Chamber in motion in demanding swift and effective 'measures on the part of the government...
...In the former case there was the part played by a nationalistic-jingoistic press and a shameless reactionary propaganda, which only indirectly resulted in an individual act of terror...
...There is, however, a great difference between 1914 and 1936...
...The stem announcement by the 'hew Cabinet ^baaf/«anr*au».t, in the alarmed and shocked chamber of Deputies, of lii—nliate steps to be taken against the actual wirepullers and instigators of murder, the Fascist Leagues, truly reflected the sentiment of the CfcamHarThai situation can no longer be tolerated...
Vol. 19 • March 1936 • No. 11
