Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-04
Aerial Navigation.

Now that the problem of aerial naviga
would play much more important part
in future wars than they had in the past.
DR. SPAIN had recently delivered a speech
about the development of their fleet
Nhich had taken them so much by sur
prise that they were obliged to think that
he must be on very intimate terms either
with Prince Henry or with Admiral Tir-
pitZ. That speech brought them nothing
new. for every politician was aware that
their fleet was in a backward condition
and must be developed This development
was not intended to Serve bellicose aims
az. for instance, war against England
but for the protection of their coasts and
commerce.
Count Orioa said it was ever becoming
clear to wider sections of the population
that Germany must have a strong fleet
not to carry on an aggressive war. but
to assure peace. II this view continually
gained ground they had to thank theil
emperor for it. who had necessarily shout.
ed to the nation that they could not dc
without feet. The defect In the navy
law was the twenty-five-year life tern
of ships, though. in view of the shameful
haggling in the reichstag. it had beef
Il high service of the majority and OF
State Secrertay Tirpitz to have kept 81
low. With the present progress of tech
nique that was an ahsurdity. If in con
sideration of their strong land force. they
could not think of becoming equal or
water to the greatest naval power, they
must At least see that the new vessels
were fully equal to every Individual op-
ponent. The speeches were loudly ap.
plauded, and the resolution was unan:-
mously adopted.
German Stocks in Paris.
The admission of German stock to quo
tat:on CT the Paris bourse IS a subject
which has been systematically discussed
in the German press for the last few
months. While a strong body of opinion
has been modified against the idea. it i:
clear that in the eyes of a consderab biz
section of the financial. and perhaps more
especially of the commercial. community
Il contamination of this kind is devoutly
to be wished.
The needs of the German money mar
ket are too well known to require RECAP pit
ulation. but quite apart from French
opinion In the matter. the consideration
that in time of war large quantities O.
German stock-in particular consols-
might be in hostile hands has been EN-
phasized as disadvantage which coulc
scarcely be compensated. Individual in
stances OF the investment of French CAPT
tai in German securities are greeted will
satisfaction as they occur. but there ha:
nltnerto Deen no lnOlc2tiOn OF any uni
versal desire for the quotation of German
stock in general on the Paris bourse. The
eXigencieS of German policy with regarc
to Morocco may concefvably have bred the
discussion in so far as German consol
were concerned, and the e"tificiality o
the discussion itself in the German pres
suggests that attempts may have beef
made to interest German finance. indus
try and commerce is movement witt
which they ID not unreservedly sympa
thize The whole tenor of this campaign
has certainly been calculated to elici
French views on the subject rather THAI
to express German opinion. So far TIL
discussion has not called for comment
since it has been evident from tine frs
that the interest in the scheme was to-
one-sided to merit spontaneous attention
in a neutral quarter.
The proce cdings of the recent German
bankers congress at Hamburg appear t
have stimulated a discussion of the ques
ton In Paris in so far as -otice had no
already been attracted to the subject b,
fictitious reports circulated for bourse pur
poses.
The question of German financial readi
to the present discussion. was con
sidered in a paper read to the congress
by Herr Warburg where the concentra
ton of German stock in German hand
and the creation of a strong gold reserv
upon the basis of reformed bourse laws
The tenor of his arguments implied tina
until the bourSe laws had been revised
Germany could not be regarded as finan
cially prepared for war. The Cologne
Gazette in an article entitled Headlines
for War;" reduces the question t