New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-16
orain on Finances Slapped
rs Strength, Declares
Or. Helfferich.
rFIFS THE ALLIES
70 STARVE GERMANY
.-,onomic Situation Now Fa-
rors Berlin" And Iron Fist
Is Still Ready"

,f G. 81 10 NI"'st
IA bankruptcy was voiced by DR..
- Eelrerich. Secretary of the Treas
=, his address before the Reichstag
to-day. nj,
CON the golden pillars Of the British
r-.ire CLEANS, in flaming characters;
W., Memo. Tekel Upharsin," we're DR..
plrerich's final words.
Responsibility for the blood which
- sov from moss on, said Dr.. Helf-
.b ofor the misery which comes
900, the world. for the danger to which
.'-:;;,stion Is exposed, falls not upon
c.-napv but upon those who cannot
..,o,ys 20 draw the conclusion from
c,,n.ny's military successes which no
a.. esn dispute any longer. The re-
feasibility falls upon those who, in
al, foolish and criminal Illusion, stih
,,,sk Of humiliation and partition OF
G,rmsny and Of a war Of exhaustion
", stand like rocks In the soil OF the
home country
The Secretary's perorstion contained
complimentary references TO German
American efforts 20 prevent the success
Of the Allies loan fotation in the
limited States. CharacterizinG the loan
a. failure. DR.. Heifcrich said the
amount unsold was estimated az between
u5oOOOOOO and S35O,OOO,OOO. He added:
Dimeult conditions in the English
po7ey market were accompanied by de-
.e-.oratiou In the English rate Of eX-
eha.-c. England was threatened with
iniur~ 10 her prestige ia the interna-
tional money market. endaDgeu1C her
supp!v of var materials and prOvi sions
non America. JrCcr the pressure Of
,h.. situation. England and France
sought credit n America.
Praise for the Hyphens.
"The result did not correspond to ex-
peetaiions. and accordingly both soon
attempted 70 obtain further credit.
Their small success was due largely TO
the resistance Of American citizens Of
German origin
lr Helnerich then compared the
course Of gilt-odged securities Of
tiLnce. England and Germany before
The war and row.
I've are paying almost exclusively TO
ov.se.ves.' said the Secretary, while
lhe enemy is paying abroad. Therein
hc. 'he guarantee that Iu the future
w shall maintain the advantage.
=. must be added that money is
sort hing different and more import
art v.th England chan with US. The
British Empire was largely built up on
and maintained by British money
pouer. ENGLAND formed her alliances
AID vaccd her wars for the most part
WITH money. In the present war, also,
England hopes 20 proceed according 20
ttis method. but our brave troops
forced England 10 stake not only Eng
hsh money bat English blood.
~The raising Of strong armies IN
creased Ergland's war costs boundless-
ly and brought English finances 70 a
state which is continually described by
British statesmen as extremely serious.
With the shaking Of the English imam
eisl power the foundation Of the Brit
ISL Empire is lettering.
Germany Can Recover.
"Germany's relation 20 money Is dill
ferent She can bear 20 become poorer
snd always remain what she is. We
endured the Thirty Years War, and
The Napoleonic Wars. We were sucked
Dr.. plundered, beaten, cut up, but We
slVays worked our way out and grew
together again. But when the British
Enp.re has gone 70 pieces II viii new
er rise
-Ye: this nation, England, pronounces
the outrageous words regarding a war
Of exhaustion. We know we possess
what ae need 20 live and fight. Bread
potatoes and other necesssres are
cheaper than in England or France:
The enemy shall know that we would
rather forego all abundance, bear all
hardship, than suffer the enemy 70
command Us. The enemy shall know
furthermore that the sharp sword, the
unbroken lighting spirit and confidence
o. victory are az our disposal. ne
German iron fist, which just now has
blown the iron gate and opened a
broad road 20 the East IS ready i
our enemies wish 20 strike anew.
E1tols Berlin Finance.
Dr. HelHerich gave a long compsrl-
son % the successes Of Germany ana
her foes IN financing the war. ne
pointed OF. that Germany had covered
the greatest part Of her expenditures
y long term loans. He said that Only
Gfsa, Britain. IN the other camp, Aad
Lad any success iu doing this. sec
enc pointed difference, said he speak
e, was that Germany hitherto had
drawn her funds almost exclusively
iron home sources, while her opponents
lad been forced % tap sources abroad,
PARTICULARLY the United States. A third
polt he said, was that the conditions
o. each successive German loan I'M
proved. while the conditions Of the
loans In enemy countries had grown
preZresslvely worse.
Dr. Helferich declared that Great
Bfi.sir had underestlmated the costs
d The war badly. lie asserted that
statement b. Sir Edward Grey, Brit
20 Secretary % State for Foreign A.
i-.ff, % the outbreak o. the war, that
ne conflict would impose hardly great
- fac-Ifcss on Great Britain = she
PARTICIPATED than ~ she remained neu-
"a. would scarcely be repeated now.
HHf said David Lloyd Georges idea a.
ne outset o. the war, that, in accord
snee with British tradition, 10 could
- hnarced 20 a large extent through
Pa taxation, had met with stun
DHng block in Parliament and that the
eAstOn proposals., instead Of fnanc-
hg material part % the war costs,
..onid scarcely suffice 20 pay the in
crest burden.
After the session Of next Monday,
~ possibly sitting on Tuesday, Tie
,rt'ehsfsg will adjourn ur.il January
~ The Budget Committee probably
~ continue rs sessions during TIE
.sFaino1eT Of the week srd dispose o.
HoEt " is work.
rolItieS in Wilson's Hinted