Russian Repudiation.

Star (Christchurch), Volume XLIV, Issue 373, 15 March 1932, Page 6

Russian Repudiation.

To the Editor. Dear Sir, —Allow me to comment upon the New Zealand Welfare League’s reference to the debts which were contracted in the days of Capitalist Russia, but immediately repudiated when Socialist Russia was set up. The Capitalist world to-day is struggling under a crushing burden of debts, the honouring of which represents to the nations a necessity for reducing the living standards of the workers. This, in many cases, has resulted in open revolt, due entirely to the Capitalists’ immutable Jaws being put into operation. Take England as an example. The interest on the money necessary to fight the Battle of Waterloo in 1812 still remains a portion of the national debt, which is bleeding England at the rate of £IOOO a minute. Another instance of the wickedness of Capitalism is seen in Australia. That country pays £29 a minute interest on a national debt of which (out of a total of £1,100,000.000) £750,000,000 represents that nation’s liabilities incurred during the World War. Our own wee country finds it necessary to introduce drastic reductions in the living standards in order that interest dues arising from our national debt of £286,000,000 shall be in accordance with Capitalism's laws and customs honoured in full. The whole world of Capitalism is in similar desperate financial straits, and no separate country can help itself owing to the danger of open revolution. If the Welfare League have any intelligence it must know that New Zealand must inevitably be reduced to the condition of desperation, which is a direct challenge to our culture and civilisation. Now let us take Socialist Russia, which is governed by the workers for the workers. The workers were justified in repudiating, in full, debts contracted under a government which had no consideration for them other than as a means of making profits. Freed from the colossal debts and shackles of Capitalism, the Soviet workers, in spite of organised opposition, have placed that immense country on a sound basis of Socialist society, with not one man out of work; in fact, 2,000,000 workers short as a result of 519 new factories being opened this year. Their standard of living is continually on the up-grade owing to the Socialist principle of production for the benefit of all being put into operation.—l am. etc., J. EDWARDS.