The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-10-01
AT THE HOTELS.


TEN, Herr Richard s. Werner a banker
of Berlin. Germany. who is at the New
Willard, said last night: The leading
financial institution OF Germany is the
Reichsbank, which, however. is not
government concern. On the contrary. #
is a stock company. whose shares can be
traded on the stock exchange like those
OF any other corporation. II holds an
exceptional and privileged position. In
50 far as It Is exempt from German
law and solely subject TO the banking
law by which It was created. Control Of
the bank is confined by law 20 the SUI
perVlsion Of central committee, as an
advisory and consultant body.
The central committee represents the
stockholders. and the directors and its
president are appointed By the govern
Hent. The bank ls free from the IN
iuence Of any private interests even
that Of the stockholders, save as their
committee IS consulted by the board Of
directors. The imperial chancellor has
supreme control, but practically the re-
sponsibility for its management rests
with the board OF directors.
The president Of the bank continued
Herr Werner, receives an annual salary
Of 1000 marks mot quite 10000. with
the privilege OF residing in the bank
building, rent free. The capital OF the
Reichsbank is about S45.000O00 Notwith-
standing that no interest Is paid It's de-
posts at the close OF 1903 amounted 10
over sl50,0O0,000 It's business has IN
creased TO such proportions that 800
branches have been established In that
number OF communities throughout the
empire. The Reichsbank has the right
20 issue bank notes according 10 It's
needs, but IS compelled 70 hold a reserve
in its treasury as security for its circu-
lating notes, at all times an amount OF
German money equal 10 one-third OF the
notes issued. This German money means
gold, silver. nickel, and copper coin.
There is enough money in the Reichs-
bank 10 supply all the needs OF foreign
nations who want 10 borrow. An in
spired French newspaper article recent
/
that Germany could not accommodate
her because Of the lack OF sufficient
funds. Nonsense, Turkeys loan IS now
being iOated in Germany More than
that Turkey is buying ships and armour
in Germany, and her army IS being
. trained By German officers. would not
be surprised If Turkey would enter the
triDle alliance before l0nz"
Charles N. Speer Of Minneapolis. MINI.
who IS at the Raleigh. discussing the po-
litical situation in the United States with
regard 10 the incoming Congress, said.
The Democrats seem TO be cocksure OF
the next National Legislature and nat
ura!ly OF electing a Speaker Present
Indications would seem 10 favor the
Democrats somewhat. but the time be-
tween now and the elections Will be EN-
ployed by the Republican administration
and leaders throughout the country in
bringing about harmony in the party and
strong vote. The Democrats have
meyer yet taken advantage Of oppoT-
tuHities presented them. There viii be
no exception this time. The Republicans
always get together on the eve OF cleo
ton and elect their men with a hurrah.
II is strange, but nevertheless the truth"
crusade against the free and unlim-
tied admission OF foreigners 10 Germany's
splendid technical schools has been
launched by one Of Berlin's most iniu-
entail publications, according 10 s. F.
Dexter. OF san Francisco. Cal, who has
spent number OF years in German
schools and has just returned 70 this
country. He IS at the Arlington.
The agitation is aimed especially
against Americans and Russians, who
comprise a large majority OF the out
Ianders matriculaJed al these institutions.
II is claimed that Germany is providing
its foreign competitors with weapons for
smashing Teutonic industrial progress IL
the worlds markets
IN this connection an instance OF
anti-American feeling cropped out az
Cha-lottenburg. the most famous OF all
the German technical schools. The pro-
lessor OF mechanical engineering there
speaking 10 his graduating class. said
that his advice 10 them is 10 make
trip 10 the United states az the earliest
opportunity.
He advised them 70 60 into all the
big factories while there. He said: When
YOU como back and become factory man
ayers yourselves in Germany, never ad-
NIT a Yankee into your plant, An
American needs only see a machine 10
go homo and make a better one
F. 4. Hubel, a retired manufacturer OF
drug supplies OF Detroit Mich. is ar the
Shoreham. He Is accompanied by Mrs
I5Ubel and their two daughters They
are here on pleasure.
Speaking Of business, Mr. Hubel said
that everything is booming in Detroit.
Our city is as busy as IL can be. II IS,
I believe. the greatest automobile manu-
featuring center OF the world. This in
dustry is bringing millions OF dollars 10
our city and gives employment 10 thou
sands of skilled workingmen.
There is every indication, from what
I hear. that the automobile industry next
year viii increase fourfold. 1t IS evident
that the Detroit product is as good as
the best, no matter whether foreign or
domestic am not interested IN any
business; 7 have retired, but feel proud
Of the automobile manufacturing indus
try OF my home city"
University Professors Appeal.
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