NIXON SCANDAL SHAKES

Dejected Nixon (above) and dollars piling up in the Chase Manhattan bank vaults (right).

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Party Building Fund 186a Clapham High Street London SW4 7UG Join our readers' discussion ON October 22 last year, 2,200 delegates at the All Trades Unions Alliance conference in Birmingham voted unanimously to proceed with the transformation of the Socialist Labour League into the revolutionary At the beginning of February, draft political perspectives and programme for the party, submitted by the SLL's Committee.

On March 11, the greatest day in the history of British Trotskyism so far, over 10,000 trade unionists and their families THE NIXON scandal in the United States may well be endangering the position of the dollar.

Over the few days there has a rush sell dollars marks, which could soon reach panic proportions.

This takes place despite the fact that the US currency twice been devalued by international agreement in the 18 months.

There are estimated to be $100,00 United States, and the country's sh are seven times its external reserves.

If the President is driven out of office as a result of the revelations there would be acoast- lations there would be a covicetutional which President Spiro Agnew would be too discredited to fill.

This could result in a run on ne dollar internationally which vould reduce the world's money markets to chaos and lead to a stock market crash on Wall Street.

Yesterday the gold price in London climbed to $93.25 an ounce from the overnight record level set on Wednesday. Since Monday London share prices have fallen by over 20 points.

So tense is the situation that crowded into the Empire Pool, Wembley, to see the Pageant of History which presented the great struggles of the working class in Britain.

This rally was a gathering together of the representatives of the forces that will build the Since then we have launched our £100,000 Party Building Fund And in every area the Socialist Labour League is holding meetings and conferences to discuss, amend and improve the resolution on the party.

The task is becoming more urgent every day. The TUC past few days there has been for European currencies. D European currencies, particula rly has last O in circulation outside the ort-term financial liabilities recession could be triggered off even by talking about the possible effects that the Nixon affair could bring about.

There is no certainty, then, that even if Nixon clings to office the international economic consequences can be avoided.

The crisis has produced a deep division in the American ruling class. Behind the 'Washington Post' and the 'New York Times' stand powerful East Coast financial interests who want Nixon out.

Nixon represents the 'new money of the West Coast, genleaders, left and right, have capitulated completely to the Tory state pay laws. Behind the backs of their members - and protected by the Communist Party — they hold secret discussions with Heath.

We urge all our readers to join us now in the campaign to form the revolutionary party.

Continuing today, Workers Press will publish the views of workers from all parts of the country and all industries on the draft programme for the revolutionary party.

We urgently ask all our readers to study the resolution and to participate in this discussion.

$80,00 O'SaIm 21 580.000. TUỆк erated during the inflationary boom and intimately linked to crime and stock market manipulation.

Against him the entrenched barons of East Coast finance capital are pressing for an end to the artificial - inflationary boom which is eating into their wealth.

They are demanding far greater economic concessions be extracted from European capitalism than are envisaged in the forward recently by Henry Kissinger on Nixon's behalf.

The statement of Treasury Secretary George Schultz that the US will expect to gain more than it gives at the September GATT talks with the Common Market and Japan is not enough to satisfy this lobby.

The big New York banks are already taking action to put an and to thakaam • thrin ena to une Doom oy raising tneir ine city of London. Ine talk of base lending rate immediately boom today is nothing more than by 4 per cent but with more a façade behind which the most substantial rises planned for the savage deflation and attacks on near future.

The West German banks are being prepared.

The Institute of Marxism-Leninism of the Central Committee of tie Communist Party of the Soviet Union in 1972 issued a compendium of documents, articles, extracts, speeches and resolutions aimed at discrediting Trotskyism and distorting completely the truth about the relations between Lenin and Trotsky. The • book is called 'On serializing attack. The series will commence copy now. Telephone circulation 400 50 200000 4* NOTEs 4,000 5* displaying a similar desire to see the boom brought to an end. Under their pressure the Brandt government has imposed an Iper-cent tax on investment and plans budget cuts which will certainly generate widespread unemployment.

Only a few days before these measures were taken the executive manager of the Dresdner Bank, one of the 'big three' German banks, said he would not be opposed to a recession to 'dampen inflation'.

The main trend in the world economy is now quite 'definitely in the direction of deflation and slump. This throws into sharp relief the phoney character of the talk of boom from the Tory government and the CBI.

This talk may help to smooth the way for the trade union leaders to enter into class-collaborationist talk with the Tories. backed, of course, by the Communist • Party.

But it certainly does not fool the financiers and investors of tha rit. aflandon Tha workers' standard of living are an extensive reply to this Stalinist next week. Be sure to order your 01-622 7029.

Press, 11,