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

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"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