Arizona republican., 1915-08-16
TO MAKE POLAND
 NEW GERMAN STATE
Plans for Administration of Poland and Galicia to Be Considered New Buffer State May Be Formed Against the SlavS
Especial to The Republican,

NEW YORK, Aug 15-The assem- bling of the German reichstag Tues day is watched with interest by the entire world of finance. Another huge war loan is asked by the inn perial government, and on the sue cess of this loan depends the coun- trys credit and it's ability to con- time the war Whether there will be a break down in German finance IS just now interesting not only the European capitals but the friends and foes of the Teutons in this country.
 From Information gleaned by New York financial agents, :t is shown that the last German loan was sue cessful only because the govern ment mobilized savings banks, mort sage banks and insurance companies
 From Switzerland comes the infor- nation that these sources of reFe- nue are already exhausted. There is plenty o1 wealth in Germany, but 1t is felt by financiers in America that the kaisers hope must now lie In the bigger financial interests of Ger many. To be sure they have been patriotic with their aid; but it is known that many of the conserva- tive, far-seeing German finauciers must see victory ahead and d sure return before they will cast iL more than their mere share In fact. it Is believed here that only decisive military victories and the signal de- feat of the enemies of Germany can bring forth the full power of the financl&i interests of that couutry.
 When the reichstag assemblies it will be asked to giHe ils consIdera- tiGE to a new war 'Oan bill pre- pared by the minister of finance. It is reported that ;ae conditions of the loan will be the same as those of former war loans, with the price of the issue at 99.
 \ second important consideration will fe the conferrirg a new ana sep arate government on Poland. The kaiser and his advisers have worked out the details of this movement, and it is said to have proceeded SO far as the suggestion of one of the Ger man princes as the ruler of the new German state. Galicia would be joined with that section of Poland captured from Russia, and the Poles would be given a more or less inn portant part in the government of the region. Thus would be formed a buffer state, a protecting iife-belt for the Austrians and Germans against the tides of the hated SlaVs.
 Among diplomats and military str tegists, it is not believed that the mere taking of Warsaw will be hailed with any great acclaim by the leichstag. It is assumed that the minister of war will make the most of the victory and the big drive through Poland in fact, it will be taken as big military feat. But there is no reason to believe that the reichstag will consider this crowning victory. The failure to trap the Cars legions is a disap- pointment to the German emperor; it is the third disappointment he has suffered in the campaign against the Russians Although handicapped for and big guns, the Rus sians made some serious rents in the German advance. The price the Ger man leaders paid for their drive to Warsaw is said to be staggering. With perhaps equal losses, the Grand Duke Nicholas has made a masterly retreat and has brought his entire army practically intact from the wise of three of Germany's great com manders. The crushing of the Rus sian army was the object of the German commanders, and this has not been achieved.