The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-04-13
A FINANCIAL CRISIS IN GERMANY

While Bismarck is keeping up with charac-
teristic vigor his momentous struggle with
the German Catholic party, he is also called
upon to apply all the vast resources Of his
great intellect to provide against the growing
impotence of all the neighboring govern
ments whose alarms his somewhat dictatorial
policy has aroused, and has also to deal with
an impending commercial crash which the
best informed German journals represent as
imminent.
The New York Stats Zeitung and the New
York Demokrct who are the most reliable ex-
ponents of German politics in this country,
both agree upon this point. The former news
paper says that the Germans fell into the
mistake Of overrating the wealth likely to ac-
crue to them from the tremendous fine paid
to their government by France in atonement of
the Napoleonic folly which inaugurated the war
against her. Although the Stats Zeitung &C.
knowledges that it is no part of the duties of
the German Government to give financial as
sistance to the numberless commercial enter
prises which are now threatened with ruin, it
says that the spirit of reckless speculation en-
gendered by their unparalleled success, and
which is the cause Of the present panic, was
mainly fostered among the German people
by the immense government disbursements
made to keep up their military prestige.
The initiation of the currency and the con-
sequent elevation of the cost OF living through
out the empire have produced state of things
somewhat similar to what has been created
here by the enormous increase of the circu-
lating medium. Sudden fluctuations in prices
have given birth to the widest schemes for
realizing in few months colossal fortunes,
and now that the reaction has set in, thou
sands of imaginary millionaires will have to
60 to the wall. Says the Demokrat of April
8th, "the cable announces crisis in Berlin.
This might have been expected long ago, and
it will not only be felt on the Bourse, but
throughout the entire commercial world. So
long has this been spoken of that every one
should have been prepared to face the COM
ing storm. The proverbial billions have dis
appeared, after producing this fictitious pros
perity which led the good burghers to live be-
You'd their means. This was sure to happen,
and one can not contemplate the future with
out dread"
The leading French organ, lie Courier DIES
Etds- Unis, has also a very striking article
upon the same subject, and as it is far more
moderate and even friendly in it's tone to-
ward Germany than those published by most
French writer's we take pleasure in translating
its concluding paragraphs for the benefit of
those who do not read French journals:
At the present stage of affairs it is clear that
all fanciful dreams must vanish, and that
Germany is not rich enough to be at the same
time an overshadowing power through its
military strength and happy nation through
the abundance and the general and individual
prosperity created by the development Of in
dustry and trade. Now more than ever she
must make her choice; she must either aban-
don the aggressive attitude she has assumed
toward Europe and give Up her immense
military ornaments, to which she has sacri-
feed everything else. or cease to aspire to
greatness through a judc;ous use of the re-
sources which, if properly used, might secure
for her that result.
We might feel somewhat embarrassed in
setting forth these views if they We're sug-
ga.ted to us by selfish alter thought, thar is
10 say. if we thought that by casing to Grip
pie herself for the sake Of maintaining her