New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-02
Secretary of the Imperial
Treasury Reviews Eco
Monies and Finance.
SUPPLIES VIRTUALLY
ARE INEXHAUSTlBLE
Declares Conquered Territory
Double in Area That of King
dom of Bavaria.

Berlin via London, Aug. DIR.
Karl Helfferich, Secretary of the I'm
perial Treasury, has prepared for The
Associated Press signed statement
on German economic and financial af-
fairs as he views them at the end of
the first year Of war His statement
follows:
"The economic and financial features
of the first year of the war are, in my
opinion, the following:
"First-The British starvation war
has failed Once and for all it has
been proved that our domestic produc-
ton of foodstuffs, bread-card system
and maximum prices assure even to the
poorest the necessary supply of food,
and that at prices lower than those
prevailing in Great Britain.
"Second-Nor can we be Starved
out in raw materials. The difficulties
cast in the way Of the importation Of
raw materials, in violation of interna-
tional law, are unpleasant for us, but
are not fatal. We have in our own
country an ample supply of the most
important raw materials-coal and
iron-and of others we have on hand,
manufactured or manufactured,
great supplies which, with the econo-
mical employment thereof insured by
our methods of organization, are VIZ
tually inexhaustible.
More Work than Workers.
"Third-The spectre of unemploy-
ment has been banished. There is more
work than workers. The war has
proved itself TO be a greater employer
of labor than our export trade was.
"Fourth-So far as finances are con-
cerned, Germany will carry the war
through for an unlimited time. we
produce in our own country practical
iv everything needed for war. Thus,
expenditures for war purposes resolve
themselves into savings. These again
are at the empires disposition, as pay
ments on the war loans and deposits
are flowing into the banks and savings
institutions more plentifully than IN
times Of peace The total Of deposits
to-day. after over $4,000, 100000 have
been paid on war loans, is higher than
at the outbreak of the war. The gold
reserve of the Reichsbank has almost
doubled since the war began. Notes
and deposits in the Reichsbank COW
eIed by gold are 1914 per cent, as
compared with 26.7 per cent in the
Rank of France and 21.7 in the Bank
of England.
Faith in Financial Strength.
"Fifth-The confidence of the Ger
ial CO crfh
is as unbounded as their confidence
in our military superiority. After
twelve months of war Imperial IS are
quoted at 10, which is eight points be-
low the quotation in March, 1914; the
minimum price of British consols, 65,
is II per cent below the quotation in
March, 1914; per cent French rentes,
at SO, are 10 per cent below March,
1914.
Work, skill, discipline, organiza-
ton, economy and, last, but not least,
the categorical imperative Of patriot
ism. have upheld Germany in the first
wear against world enemies, and will
help US further to win the war"
The Overseas News Agency to-day
gave out the following:
"Reviewing the first year of the
war the Berlin newspapers point out
that the territory of the central pow
ers is free from invaders except for
small strips in Alsace and Galicia, while
the German armies in the west oc-
cupy $4,000 square kilometres, includ-
ing Belgium and the most valuable
part Of France. In addition to this ter
ritory the Austro- German Allies oc-
cupy 10000 square kilometres in the
east, including complete the govern
ments of Courland, Kovno, Suwalki,
Lomza, Plock, Kalicz, Piotrkow, Radon
and Kielce, as we'll as large parts Of
the governments Of Warsaw and Lub-
lin. The total conquered territory is
twice the area of the Kingdom Of Ba-
varia.'