"Whither England?" by Leon Trotsky. Published by Good Press. Good Press publishes a wide range of titles that encompasses every genre. From well-known classics & literary fiction and non-fiction to forgotten−or yet undiscovered gems−of world literature, we issue the books that need to be read. Each Good Press edition has been meticulously edited and formatted to boost readability for all e-readers and devices. Our goal is to produce eBooks that are user-friendly and accessible to everyone in a high-quality digital format.
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Leon Trotsky. Whither England?
Whither England?
Table of Contents
FOREWORD
CHAPTER I. ENGLAND’S DECLINE
CHAPTER II. MR. BALDWIN AND “GRADUALNESS”
CHAPTER III. SOME PECULIARITIES OF ENGLISH LABOR LEADERS
CHAPTER IV. THE FABIAN “THEORY” OF SOCIALISM
CHAPTER V. THE PROBLEM OF REVOLUTIONARY FORCE
CHAPTER VI. TWO TRADITIONS: THE GREAT REBELLION AND CHARTISM
CHAPTER VII. THE TRADE UNIONS AND BOLSHEVISM
CHAPTER VIII. A FORECAST OF THE FUTURE
INDEX
Отрывок из книги
Leon Trotsky
Published by Good Press, 2021
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On March 5, 1925, the Bank of England raised its discount rate from four to five per cent. following the action of the New York Federal Reserve Bank, which had raised its rate from three to three and one-half per cent. In the City this served as a harsh reminder of its financial dependence on its transatlantic cousin. But what else could they do? The American gold supply amounts to about $4,500,000,000, while the English does not exceed $750,000,000, i.e., about one-sixth as much. America has a gold currency, while England is merely making desperate efforts to reestablish one. It is therefore natural to find that when America raises its discount rate from three to three and one-half per cent., England is obliged to fall in with a rise of from four to five per cent. This measure reacts to the disadvantage of English trade and industry, by rendering more costly its necessary supplies. In this way, America is showing England her place at every step, on the one hand by the methods of diplomatic pressure, on the other by measures of a banking nature, always and everywhere a pressure of America’s gigantic economic preponderance.[2]
