Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-02-25
Caused by Over.Expansion
tBerlin Correspondence
N. Y. Tribune.l

A remarkable feature of the indus
trial and financial crisis thru which
Germany has been passing has been
the steadiness of foreign trade. II a
general collapse of credit and business
has been averted during the last sly
months, it has been mainly thru the
saving virtues of a Well organized
/ foreign commerce. With all the bust
ness interests of the home market
disordered by excessive expansion and
! financial depression, the Fatherland
has been living from hand to mouth
upon its foreign trade. This is sig
niticant fact which Americans ought
not to overlook. German experience
proves that in n period of storm and
stress, when the foundations of, pub
| lie confidence are shaken, foreign
commerce is a safeguard and source
of strength. 1t is warning to Amer :
| leans to have the same anchor in read
| mess to windward whenever a similar
emergency arises thru undue expan-
sion of domestic trade. The moral is
| SO well understood in Germany that 1t
| is doubtful If any political combination
can be affected for securing the en-
actment of the proposed tariff. When
foreign trade has been almost the only
resource in prolonged monetary and
industrial crisis the factions in the
Reichstag are reluctant to take the
| risks of reducing the volume of COM
mercial exchanges by raising the du-
| ties on imported agricultural produce
and imperilling reciprocity conven-
tons.
The experience of Germany during
recent years is fraught with instruc-
tlon for American readers and can not
be studied too closely. In 1879, after
futile dalliance with free trade, the
protective system was adopted. and
there has been no reversal of it. The
currency question had been settled a
few years before by comprehensive
measures of financial reform, and there
has been no disturbance of industrial
conditions from that source. Reciproc-
ity conventions We're also negotiated
wherever 1t was practicable to do so
and these were allowed to minister
without interruption to the Industrial
development and economic prosperity
of the Fatherland. The general result
of the continuous operation of the pol
icies of protection, financial reform,
and reciprocity was the conversion of
an impoverished country into pros
porous industrial empire. Emigration
was checked; industries were diversi-
fed the range of employment was
widened; the efficiency of labor was
increased by technical education; hab-
Its of military discipline contracted in
the army induced subordination among
workmen; three great systems OF COM
pulsory insurance tended to convince
working people that the state was
deeply interested in their daily life,
and an enormous expansion of the eX-
port trade was brought about by COM
mercfal training and enterprise. Sew
en- years ago. when American industry
was paralyzed by the abrupt reversal
of tariff, monetary and reciprocity
policies, Germany was at the height
of prosperity and pulsating with re-
newed energy. Every factory was run
ming on full time with cloud of
smoke from the tall chimneys: new
foundries and mills were in process OF
construction in every industrial center:
building operations were in progress
on large scale In every important
town, and the mercantile and shipping
interests had received tremendous
impulse from the development of for
eign commerce. Seven years have
passed, and America has witnessed
with the settlement of its disordered