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 lish itself, Trotzsky and Varga emphatically dispute. They point to the world-wide economic and financial decay and declare that, "The crumbling of the very foundations of industry is only beginning and is going to proceed all along the line." Hard times, such as the word has never known before, must be looked for, as the productive forces of society have definitely outrun the capitalistic system of distribution. The world markets are exhausted, and all that may be looked for, if capitalism is to continue, is the presence of a constant and enormous army of half-starved, unemployed workers. Periods of "prosperity" may occasionally occur, but these must be only temporary and cannot remedy the situation. For the capitalist class the only way to find even a temporary postponement of the eventual collapse is to get the workers to accept greatly reduced standards of living. But this the workers, with their growing class-consciousness and powerful organizations, will not do. They will fight desperately against further enslavement. To lead this fight, in good times and bad, to broaden and deepen it until it ends in the overthrow of the whole capitalist system, is the great function of the III International. Two years ago, in the midst of the acute after-war crisis, the word revolution seemed to be only a matter of a few months, now it may be a question of years. *** After a three days' debate, this conception was endorsed almost unanimously by the congress.

Zinoviev, President of the III International, submitted the report of the Executive Committee on Communist activities internationally. This caused several days discussion during which the Italian and German situations came sharply to the fore. In most countries the Communist Parties originate in the ranks of the old Socialist Parties; they are usually split-offs of the left wings from the right wings. The break in Italy occurred at the recent Leghorn convention of the S. P. Serrati, really a centrist, but long posing as a Communist, was blamed for the fact that the Communists got the worst of the split. He and the revolutionaries who remained behind in the o.d party were drubbed unmercifully. Just in the midst of the fray the Italian S. P. delegation, led by Lazzari, arrived. They declared themselves willing to stay with the III International, and to apply its famous 21 points, with reservations.