IN the United States enter-
. ed the Second World War
there were 31 large corporations
each having $1 billion or more in
total assets. By the end of 1952
there were 66. In 1952 alone 6
companies joined the group, com-
monly known in the U.S. press as
the “Billion Dollar Club.” :
At the end of 1952 the “Bil-
lionaire Club” consisted of 22
banks, 13 life insurance compan-
ies, three other financial corpora-
tions, 17 industrials — including
the eight U.S. oil companies —
six railroads, four utilities and
one retail trade concern. Total
assets of the 66 giants totalled
$174,318,786,952.
In all there are 660,000 ;
rations in the U.S. But the 66
_ giants in 1952 held 28.3 percent
of all assets of all corporations.
Through interlocking director-
ships, affiliates, or through - fin-
ancial inter-connections, they con-
trol over 75 percent of all corpo-
rate assets. .
*

Eight major financial groups
have emerged, which overshadow
_ lesser groups, and to which the
_ Major companies can be directly
: assigned, the basis of identifica-
_ tion being the question of. con-
trol over the company and who
exercises such control: These
eight groups and their assets (in
billion dollars) are as follows:

Financial No. of

Groups companies Assets
_ .Morgan-First
50.3

36.8
8.1
78°
6.6
5.8
47
18

121.4

_ The 66 billion-dollar corpora-
tions illustrate vividly the fin-
ancial oligarchy which has been
_ created from the merging of
_ bank capital with industrial cap-
ital. The oligarchy consists of

J fd
=—=QWt &wwWND

"TALKING POINTS ON US. TRUSTS
_ Eisenhower's cabinet front for

big boys of Billion Dollar Club —

JOHN FOSTER DULLES

127 men, each of whom is a
director of two or more of the
largest companies. Bankers are
Girectors of industrial corpora-
tions. 5

Among the 127 is Winthrop W.
Aldrich, present U.S. Ambassador
to Britain. -

He is a son-in-law of John D.

Rockefeller, Jr., the Standard Oil
magnate. a

Eisenhower’s cabinet ‘repre-
sents the most open rule of mon-
copoly capitalists in U.S. history.
Members of the cabinet have held
directorship or official connec-
tions in 86 corporations with total
assets exceeding $20 billion.

ok

Billion - dollar corporations

directly represented among Kis-

enhower’s appointments include:

General Motors, General Elec-
tric, du Pont (which owns_23 per-
cent of General Motors stock),
Mutual Life Insurance Co. (New
York), American Telephone and
Telegraph (Bell System) through
its subsidiary New York Tele-
phone Co., First National Bank
of Boston, National City Bank of
New York, Union Pacific Rail-
roads, Chase National Bank, Met-
ropolitan Life Insurance, New
York Central

{ am the child who slept in

For me—for | was dead.

But those days are Past.

Innocently, when the sirens
When the moon had paled.
f am the child embalmed in

ity was mine to know,
Not death around me.

. The earth must heave and

Childrn destroyed by war,
Who will laugh and. play no

To mighty horse-backed
But none to a child like me.

Erected to a war-horse,
Horses and men
But—what of me?

Oh, the earth must heave a

Children destroyed by war.

Whe will laugh and play no

lam the child

After the planes roared overhead.
My mother wept in Guernica

I lay by a tree-lined street in France
After the cross-marked plane had passed.
Once I played with a coal-black kitten,

Tam the child who skipped to the shelter

In London the people counted their sorrow

The way my liberating brothers found me,

In every place where we lie sleeping, i

There are monuments to soldiers
And to those who died at sea,

generals,

There is even a handsome edifice

get monuments,

_In-every place where we lie sleeping,

_ =M. HATFIELD.

the dust

wailed, nie

’

the snow,

sigh with weeping,

more,

nd sigh with weeping,

more.

Railroads, and —
' of Shell Qil..

_ ism, and war.

in the U.S,

Westinghouse Electric Corpora-
tion.

The following list of cabinet
members selected at random,
bears this out: :

Secretary of Defense Charles E.
Wilson. Former President and

director of General Motors, which

Paid him $566,200 in’1951.

Secretary of - the Treasury,
George M. Humphrey. Was a di-
rector of over 30 companies, in-
cluding Pittsburgh-Consolidation
Coal Co., of which he was chair-
man. His salary in 1952° was
over $305,000. :

Secretary of the Army, Robert
T. B. Stevens. Was a director of
General Electric, Mutual Life In-
surance Co. and of New York-
Telephone Co., and chairman of
J. P. Stevens and Co., a leading
textile company. ©

Secretary of State, John Foster
Dulles. Was a director of Inter-
national Nickel, chairman and
trustee of the Rockefeller Foun-
dation and close to the Rocke-
feller interests. His law firm -of
Sullivan and Cromwell handles
Rockefeller, Morgan and other
big interests. From his partner-
ship in the firm, Dulles amassed
a fortune. y

In the words of Senator Morse
‘(“Congressional Record,” August
3, 1953), the Eisenhower appoin-
tees are staging “a crusade for

more Cadillacs for more bankers” |

and are Engaged in “the great
business of making life pleasant
for the upper classes.”

Sa oer:

Big business and the military
are also closgly intertwined. For
example: 3 4
__ General Lucius D. Clay, form-
er commander of U.S. armed
forces in Germany, is now chair-
man of Continéntal Can (Morgan)
and a ‘director of Marine Mid-
land Corporation and of General
Motors, of Lehman Corporation,

- Wall Street banking house, and of

Newmont
(Morgan).

General James Doolittle of the
US. Air Force is vice-president

Mining Corporation

Other military men with big
business connections are Admiral

.Ben Moreel, General Joseph T.

McNarney, Rear Admiral Walter
A. Buck, Admiral Jonas Howard
Ingram, etc. ‘

As well as having a determin-
ing influence of foreign policy,
members of the “Billionaire
Club” have a strict control over
home affairs. In the field of edu-
cation, for instance, they dom-
inate the boards of universities,
business schools and ‘institutes of.
technology, thus controlling fin-
encial affairs and the appoint-
ment of teaching personnel and -
imposing thought-control over °
the students. For instance:

Carnegie Institute of Technol-
ogy in Pittsburgh is dominated
by the Mellon interests. /

John D. Rockefeller III is a
trustee of Princeton University.

Benjamin F. Fairless, chairman.
of U.S. Steel; is a trustee of Ohio’
Northern University.

And so the list goes on.

*

In the present period of men-
acing depression the giant corpor-
ations are tending directly and
through their agents in govern-
ment to step up the drive to fas-
cism, spear-headed by McCarthy-
But the determin-
ed action of the American work-_
ing people and their allies, the
Negro people and the farmers,
can curb the power of monopoly

Jey

{THIS INFORMATION IS FROM BILBION-
AIRE CORPORATIONS, PUBLISHED BY THE
U.S. Lasbor RESEARCH ASSOCIATION. )

. $ocial life,

ALBERT EINSTEIN

By ALBERT EINSTEIN

JOE McCARTHY

‘No flowers until last
witch-hunter silenced’

[AST SPRING in Princeton some 200 educationalists, ministets;

e . . . . . bat wpe # eS
writers and scientists met in Princeton to honor Albert Einstein’s

75th birthday. The famed ‘scientist did not attend the conference

but he submitted his written answers to five
academic freedom and political inquisitions.

With McCarthyism on the ram-
page in the United States, and
Congress having outlawed the
Communist party, it is timely to
recall what Einstein said.

Dr. Einstein declined a pro-
posal that a delegation bring
flowers to him and was quoted
as saying: “You may bring flow-
ers to my door when the last
witch-hunter is silenced, but not
before.” os

Following are his answers to:
the five questions:

1. What is the essential nat-
ure of academic freedom and’
why is if necessary for the pur-
suit of truth? j :

“By academic freedom I under-
stand the right to search for
truth and to publish and teach
what one holds to be true. This
right also implies a duty: one

“Must not conceal any part of
what one has recognized to be

true. It is evident that any re-
striction of academic freedom
acts in such a way as to hamper
the dissemination of knowledge
among the people and thereby
impedes rational judgement and
action.”

2. What threats to academic
freedom do you see at this time?

“The threat to academic free-
dom in our time must be seen in
the fact that, because of the al-
leged external danger to our-
country, freedom of teaching,
mutual exchange of opinions, and
freedom of ipress and other
media of communication are en-
croached upon or _ obstructed.
This is done by creating a situa-
tion in which people feel their
economic positions~ endangered.
Consequently more and more peo-
ple avoid expressing their opin-
lon freely, even in their private
al This is a state of
affairs which a democratic gov-
ernment cannot survive in the -
long run.” - ; 3

6h _ What in your view are the
Particular responsibilities of a
citizen at this time in the de-
fense of our traditional freedoms
@s expressed in our Bill of Rights?
_ “The strength of the Constitu-
tion lies entirely in the determin-
ation of each citizen to defend
it. Only if every single citizen
feels duty ‘bound to do his share
in this defense are the constitu-
tional rights secure. Thus, a
duty is imposed on everyone
Which no one must evade, not-
withstanding the risks and dang-
ers for him and his family.”

4. What in your opinion’ are

the special obligations of an in-

tellectual in a democratic society?

“In principle, “everybody is
equally involved. in defending
the constitutional rights. The in-
tellectuals in the widest sense of
the word are, however, in a spe-
cial position since. they have,
thanks to their special training,
a Particularly strong influence
on the formation of public opin-
ion. This is the Treason why

-announced that

PACIFIC TRIBUNE — SEPTEMBER 3, 1954 — PAGE a ee

questions relating to

. om
those who are, about to lead us
toward an authoritarian goveri- —
ment are particularly concerned
with intimidating and muzzling-
that group.
the present situation especially —

important for the intellectuals 10

do their duty. - :
“T see this dutv in refusing 10
cooperate in any undertaking that

- violates the constitutional rights

of the individual. This holds 10.
particular for all inquisitions —
that are concerned with the prt
vate life and the political affilia-
tions of the citizens. Whoever
cooperates in such a case be
comes an accessory to acts
violation or invalidation of
Constitution.”

5. What in your opinion is the
best way to help the victims of
Political inquisitions?

“It is important for the defense
of civil liberties that assistance
be given to the victims of this —

the pee

defense who in the above-men-

tioned inquisitions have refu
to testify, and beyond that to all
those who through these’ inquisi-
tions have suffered material loss
in any way. In particular, it
will be necessary to provide legal
counsel and to find work for them.
“This requires money, the col--
lection and use of which should
be put into the hands of a small
organization under the supervi-
sion of persons known to be
trustworthy. This organization
should be in contact with all
groups concerned with the DEC a
servation of civil rights. In this
Way it should be possible to solve
this important problem without
setting up another expensive

fund-raising machinery.”

| Flashbacks 4

H
BT:
‘

40 years ago
(From the files of the B.C.
. Federationist, Sept. 4, 1914)
Shingle weavers in New West- —
minster struck against a wage cut —
from 16 to 13 cents a thousand
imposed by Fraser Mills and
other shingle mills. re

15 years ago |

(From the files of The Advocate,

Septic 1939)4

Seven of the Dominion Coal

Company’s 10 pits at Glace Bay, |
N.S., were idle as 9,000 mitiérs
struck against speed-up condi
titions and failure of the com-
pany to sign a new contract.

IO years ago

a

(From the files of The People,

_ Sept. 2, 1944)
The Labor-Progressive party _
it had already —
named 10 candidates in B.C. in
preparation for the néxt federal
election. : eae

»

It is, therefore, im