Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1914-10-29
FINANCIAL POWER
Of GER MANY HAS
CAUSED SURPRISE

correspondence Of tn" Assuciatrd Prcss)
Berlin. oct. 2S.-Tho raising Of sl.c5o.- .
$4,000 by the German government I'm a
single operation is commented upon bv
the German press and by the press of
IA number of neutral countries as re-
markabl" evidence of Ci,rmany's financial
power DR. Karl Hefforch. one Of the
directors Of the Dcutsche bank. who dis
cusseS the loan in IA bankers publications
points ont that this is the largest
financial transaction that the world has
ever seen. The nearest approach to IT
was tho indemnity of sL0pGUDUD paid
hy France to Germany after the Fanco-
russian war but that sum was raised
In two separate loans. and the pay
ments ON them extended to two and a
halt years France had the help OF
foreign countries in raising the war
Indemnity, while Germany did not ask
for any foreign subscriptions and is rails
ing the huge sum already mentioned
wholly out Of It's own resources. Further
more, Iielfferch shows that the sub
scMptions to the German loan all repre-
sent bona fde transactions. for the fun
amount of each tender is to be paid in
before the end Of the year. After the
loan shall have been fully paid in. saws
IIelforich. GERMANY will have money
enough in hand to pay its war expenses
into next spring
HelffcriCh finds that the marked
success of the German loan had thre.
causes, First. Germany has far out
stripped England and France in the
creation of wealth during the past
few decades; secondly. Germany is In
comparablY better organized, fnan-
tally and In Il general business way.
than its enemies; and thirdly. the Ger
man people are showing a more self
sacrificing spirit in this war than tho
other countries. As illustrative of tho
last point, he says that the three
fourths of the persons subscribing for
the loan were able to take ONLY
of $500 and less. This means
that there were some 500 OOo of these
small subscribers. This army of petty
capitalists strikes Helncrch as being
fully as impressive as the success OF |
the loan itself
GETS ROYAL REBUkE.
London oct 2S.-CCorrespondence
'f the Associated PreSs) One of Lon
ion's great department stores has re
moved from its windows its royal pat
ronage signs. This is said to be due
To royal rebukc
This store. whore Queen Alexandra has
heretofore done her shopping gcnt a |
heck for 1000 pounds to the Prince of
Wales fund, So large a donation might
we'll he put to the credit OF its ADVERTISING
recount in view of the publicity given II
However, the managers OF the Wnlos
und discovered that the store dismissed
lalf of its staff, so that the donation cam.
eally not from the firm but from It's un-
ortunate discharged employees Where
lpon the check was sent back and the
oNal patronage taken from the firm
The problem I'm England is To avoid
auperizing the unemployed The burden
laced ON private charity is all that il cal ,
tand. Both in thr case of the Prince If S
Wales and OF Queen Mary's funds. th,. F,
rlncipal Is to provide employment rather
han to make dolos Ia the idle While
ONE industries have received an artliicial
tmulus through the war others hay, ,
cen forced 10 close. 1t is the aim OF the ,
oval family to induce employees to keen ,
neir business going at loss rather than I
, discharge hands and coothc their con- i.
ricnces hy giving to charities which tholr |
WA actions have made necessary. s