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Wallace Demagogy on Capitalism
Exposed by Dobbs

(23 August 1948)

Source: The Militant, Vol. 12 No. 34, 23 August 1948, p. 1.
Transcription & Mark-up: Einde O’ Callaghan for the Encyclopaedia of Trotskyism On-Line (ETOL).

Farrell Dobbs, SWP presidential candidate, issued the following statement in response to Wallace’s August 12 radio speech:

In his radio speech of Aug. 12 Henry A. Wallace characterizes international capitalism as “the truly great menace which needs bridling and our own country is the head quarters for international big business. Our own Government today is dominated by the men of international big business.”

Nothing so much as this statement shows the inconsistency and demagogy of Wallace. On May 24 at Portland, Oregon, Wallace described himself “as the best friend capitalism has in the United States today.” There is only one inference that can be drawn from these speeches and that is that Wallace is ready to defend the vicious system of capitalism despite the fact that it is “the truly great menace.”

But apparently that is not the impression that Wallace wants to leave with the working class. Without showing how he would turn the trick Wallace promises to transform the capitalist rattlesnake into a cooing dove. A vain hope. Marx long ago predicted the course of evolution for the capitalist system. The monopolistic and imperialist character of capitalism flows from the dynamics of capitalism itself. Wallace must either accept this evil or work for the overthrow of capitalism. He cannot have his cake and eat it.

The Socialist Workers Party agrees with the characterization of international capitalism which Wallace made in his August 12 speech. But the only cure for “the truly great menace” is the nationalization of industry and its operation under workers’ control. That is the road to socialism. That is what the Socialist Workers Party stands for.

* * *

Two public meetings, a radio broadcast, a press conference and a campaign social are scheduled for Dobbs during his stay in the Twin Cities. A public meeting will be held on Friday, Aug. 27, at 8 p.m., in the Brunswick Room of the Andrews Hotel in Minneapolis where Comrade Dobbs will speak on A Socialist Program for American Workers – the Only Road to Peace. On Sunday, Aug. 29, Dobbs will address a public meeting at the American House in St. Paul at 8 p.m. He will make a 15-minute radio broadcast over station WDGY on Tuesday, Aug. 31, at 6 p.m.

During the first week of September, Dobbs will tour the state and plans to make either personal or radio appearances in such centers as Duluth, Virginia and Willmar.

Open house will be held in the Minnesota Campaign Headquarters, 10 South Fourth Street, in Minneapolis on Saturday evening, Sept. 4.

* * *

The next Dobbs tour dates are as follows:

August 24, Plentywood, Montana
Aug. 25–26 en route
Aug. 27–Sept. 4 Twin Cities

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