The Denison review. [volume] (Denison, Iowa) 1867-current, 1915-09-29
WORLDS RECORD
IN FINANCE
More Than Three Billion Dollars Are
Raised by the People Of the EN-
pire, Says Treasurer.
NATION is NOW IN GOOD SHAPE
Officials Declare That the Country Is
Now Financially Able TO Con-
tinue the War Indefinitely

Berlin, Sept. "a The German war
loan raised September 21st is the
largest financial operation in the
worlds history, said DR. Karl Helffer-
ich, secretary of the imperial treas
ury, to the Associated Press today.
With a total OF f2,O00,00O marks esq.,
600, OOO) and some small sums not yet
reported the secretary said, it exceeds
Great Brltains last loan. which at
tracted much attention all over the
world as an unprecedented piece OF
tinanceerinG.
"The present 1oan," DR.. Hetfferich
continued, enables the government
to liquidate treasury bills taken over
by the reichbank and other banks.
provides Germany with money for the
winter campaign and renders unneces-
sary the raising of another loan be-
fore March.
Germanys Expenses Less.
england hitherto has raised $4.-
O62, 100000 and Germany $6,25O,0O0,-
900 in long term loans, whereas Eng
lands war expenditures up to the pres
ent time are hardly less than Ger
many's and soon will exceed Germany's
for England is now spending nearly
$25.OOO,OOO daily against Germany's
not much above $l5.0O0,O00. That
means that Germany is spending 25
cents per capita daily and England
SIS cents. doubt therefore. whether
England's fnanciers possess conf
dence that their resources will outlast
ours.
Everything said abroad about Ger
many putting on pressure and using
force to secure subscriptions to the
loan is pure invention. We appealed
solely to the financial power and nat
riotism of our fellow citizens. Our
success must open the worlds eyes
to recognition OF how strong is Ger
many's financial power and how strong
is her will.
Standing on Own Feet.
~ am confident that the success OF
this loan, which proves that we are
standing firmly upon our own feet
will contribute toward the good rela-
lions between Germany and the Unit
States, Notwithstanding the Nor
in.Holden incident. Independence Is
the first word in American history as
we'll as the first word of true friend
ship America cannot class us among
her poor relations" tt
DIR. Helfferich asserted that Germany
was financially able to continue the
war indefinitely. Her people, he said,
were earning higher wages and saw
ing more money than In times OF peace
The country was supplying it's own
needs and buying little abroad and
making no debts to foreign countries.
People Learn to Economic.
In conclusion the secretary said q
shortage in the supplies of some raw
materials. like cotton and wool, might
cause inconvenience, but the people
were learning to economic. !, Old wool
en- clothing was being rewprked into
shoddy, and coats could be worn short
err Substitutes for some materials
We're being found. he added.
The British parliament passed last
week credit of $1,250,0 100000. 1t
was the seventh since the war began
and brought the total amount to So
31O,OOO,00O. Premier AsGuith said the
daily expenditures of Great Britain
was SIT 100000, but that there was a
likelihood of it increasing, owing to
advances to Great Britain's allies and
her 5dOminiOns and to provide for mu
nitiOnS.
Or. Helfferichs reference to the
"Nlorgan-Holden incSdcnrN possibly
has some connection with the confer
ence in New York between Sir Ed
ward Hopkinson-Holden. managing d.
rector of the London City and Midland
bank, and J. p. Morgan with regard
TO the loan the British and French com.
missioners are endeavoring to secure
in the United States. Sir Edward is
member OF the British commission.