The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-05

mind was f,red BY; the sight Of the great
er wealth and luxury which the british
were enjoying as a result OF their indus
trial supremacy, and therefore Germany
rushed Into the same field thinking TO
obtain the same resulta But there was
this great diffcrencc-that England had
a background Of years Of patient strus-
gle to perfect herself as manufactur-
InE nation. and as a result OF her ct-
forts there had como to be- wealth OF
accumulated information and national
character in regard to industrial pro-
ducts which was. and Is Of more value
even than great material resources
This national attitude, which is one Of
its essential characteristics. cannot De
brought about in one generation. Ger
many did no. heed this but pushed her
trade furiously through companies which
.Eowed their shares broadcast throughout
the land. AZ first everything went well,
but finally the Inevitable smash SO Ions
predicted came, and the country began
to wake up to the fact that what it
thought was a great natural development
had been nothing but a speculative ma
MIA The class upon which this change
fell with the greatest severity was the
iand-holding element, who had mort.
gagged their patrimonies to subscribe to
shares in all sorts Of manufacturing In
dustries But with the failure Of tn.
land-holders came also the necessity Of
reducing the working force In, their es-
Establishments, and it is now admitted that
there are $4,000 heads of families out OF
employment This has resulted in IN
creased Soclalistic agitation, and even In
Berlin, crowds of 10000 demand the es.
tablishment OF Ministry of Labor,
which, if created, would find itself met
with the demands for some kind of Poo:
Law.
In addition to this the Government has
continued its expenses. The dock yards
and arsenaIs are crowded and the
Agrarians are demanding higher and
higher protective tariffs, which are be-
ing as earnestly resisted by the work
ing classes.
The gloominess of this picture is apt
to cause an e9aggeration of the true
condition Of things in Germany. The
Spectator thinks that Germany is suffer-
ing from the collapse of the boom, but
is IN no danger of being ruined. The
great diffusion: OF the big ventures which
is the source of her discomfort is also
her preservation, for it will distribute the
total loss. The shrinkage of her INDUS
trial prosperity will no doubt hasten the
er, but as we have recently seen In Eng
land, a State suffers less from that de-
cay than from many misfortunes which
produce less household misery.
It is a social change which follows
rather than q. social collapse. The land
in Tricky populated country is always
sought for. and the new iand-holders
soon fall into the ways and even the
prejudices of the old The shares in
the companies yield less for a time and
pass to new hands But the money has
been Invested rather than wasted, and
the factories, machinery and mines will
speedily begin to yield again upon re-
duced capitalists. Surplus ships will be
sold; the remainder will be worked
cheaply and for as many years as pos
sible. and the total result will still be
profit, though accruing principally to
new mem
This means that the menace Of Ger
many as a disturbing factor is a thing
Of the past Were Germany still at the
height of her boom there would be great
cause for alarm. for the results that
would follow when the boom should coll
lapse would be disastrous but with Ger
many setting her face to the foe and
preparing to make the best Of a situa-
ton which is uncomfortable. yet evident,
1t seems that the danger is apt to be
measured by what has been gone through
with and not by what may be reasonably
expected.