The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1916-08-03
Germany Also u s e s
Part of $4,000 to Keep
Up Industries
LABOR SHORTAGE
is OVERCOME
u. S. Consul Say 8
Banks and Railroads
Haven't Suffered

WARRINGTON. Aug, Sin a sur.
vey. In detail. OF financial and com
mercial conditions in Germany, Uni.
ted States Consul General ]. G. Lay,
at Berlin, says approximately $50.
900 prisoners Of war now are en-.
ployed in farming and Industrial pur
suits in Germany, and that the short
age In labor has been overcome
largely in that way and by the use
OF women. Railroads and banking
houses have not suffered materially
from the war
The total profits of the Reichs
bank. whose operations, he says, are
criterion OF the financial affairs
OF the empire. amounted TO more
than $65,000,000 as against $31,725-
600 for 1914, and the war tax and
other charges paid TO the govern
ment for the privilege OF doing bust
ness exceeded SAT 800. 900, as against
s10,362 900 in 1914. The gold re
serve OF the Reichsbank grew sS3,.
776, 900 (352.0O0.000 marks) during
the year. making the entire accumu.
lation during the war $3.50. $3.50
This was despite the considerable
amounts of gold sent TO foreign
countries in payment for foodstufis
and the like. The total metal money
reserve on Dec. 81, 1915, was $3.50.
526, 900.
Bio Gain in Bank Deposits.
"A remarkable feature of the
year" says Mr.. Lay, was the grad,
ual development of the German
banking institutions into deposit
banks and the gradual elimination
OF their stock exchange and com
mercial features" The deposits in
the savings banks were $685. 100000
more than the Withdrawals; and the
total flow OF capital into tho savings
banks In 1915. not counting sub
scriptions of depOsitors to war loans
was ss92500, 600.
The subscriptions 10 war loans by
depositors have amounted 10 s1.07l,-
600 600, all but s60,0O0,O00 OF it in
1915. During the year the govern
ment floated two war loans-s2 So
100000 in March and S2,SSo, 03S,0 900
in September
The production OF hard coal and
coke was II per cent Of normal. but
that of soft coal was above nor
NAL
Iron and steel were produced in
much larger amounts than usual.
Machinery did we'll The Potash
Syndcate's sales were s25, 22S,00
az against SAC 5000 in 1914 and
s45, 900 in 1918.
Under government encouragement
much land Is being put into flax.
Though a substitute for cotton In
explosives was found and used vast
". the textile mills were short OF
raw materials Lace and embroid-
cry industries were at a standstill,
while manufacturers OF porcelain
and glass suffered greatly.
The large German chemical indus
tries, by adaptation 10 war condi.
lions. declared larger dividends In
1915 than In 1914 The total chem
zeal production OF Germany is about
s42s, o00, 900 a year, one-third to one
half Of which ordinarily goes to for
eign countries. Not able to import
raw materials, the companies have
had to invent substitutes, chiefly for
rubber, albumen, fertilizers and oil.
crops Below Normal.
The German crops In 1918 were
poorer than for the past ten years.
but hidden or unsought stores OF DO
tatoes, held by small farmers ana
dealers, became available In such
quantities at the end OF the year. MT
Lay says, that the careful distriou'
ton OF potatoes and grain and the
Limitation OF their consumption has
enabled the government TO over
come. in part, the obstacles present
ed by the small crops and made
S.atn tp,nnrfe