New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-11
Wherein They Differ.

So far there is not much difference
in the position of the two countries
but the social structure OF both nations
is different. The United Kingdom con-
sists Of two small islands, with an
overcrowded city population. In Eng
land and Wales population is twice
as dense as in Germany; agriculture Is
unimportant; nearly all industries are
dependent on foreign supplies OF raw
material. A great part of England s
wealth are investments abroad and the
capitalized goodwill OF shipping, bank
ing and trading. A large share OF her
income is drawn from these sources
Her foreign investments are calculated
at $4,000 100000.
Germany draws a much greater part
of her wealth from her own soil. One
third OF her people are engaged in agri-
culture. She also is great investor
abroad foreign investments are
valued at $9,OOO,OOOO00. But, broadly
speaking. England is far more depend
eut on oversee connections than Ger
many. She consumes s75 per head from
abroad; Germany only $40. On the
other hand. her assets in foreign coun-
tries are larger; they are 1926 per
head. against s13l owned By Germany.
As England was the great centre OF the
worlds trade, her floating capital IS
enormous. 1t has been estimated that
between f3OO,OOO,OOO to s35O,oOO,O0O
bills on London mature every day.
BY Necessities Obliged.
II Germany and England had to
finance the war in the same way Ger
many would have been greatly handi-
capped. A much larger share Of her
men was Immediately withdrawn from
production at the beginning OF the war.
Her investments abroad are smaller,
especially as large part of them was
confiscated by England, while another
part is not available for mobilization,
as it is located in Turkey, Austria, Bull
paria. Serbia and Japan. Liquid CAPT
tai was always scarcer in Germany
than in England. II Germany had been
trying to go on exporting on the old
scale, while she was fighting, the strain
on her economic situation would have
been intolerable. The exporting and
the importing industries would have
locked I'D their capital in their own
concerns; they would have strained
every nerve to 20 on producing. They
could not have subscribed money for
war loans, for on account of the high
cost of production their profits would
have been small. Capital and labor,
necessary for war purposes, would
have come forth slowly. just as it hap
pened in England. Ultimately produc-
ton for exports would have had TO be
stopped by force. A heavy demand for
imports would have risen. They could
not have been paid for in goods or IN
cash, for Germany is not gold produc-
ing country. like the British Empire
They would have had to be paid for by
loans contracted at usurious rates. Ger
many would have encountered the same
difficulties with which the Allies have
to grapple, only in her case they would
have been ten times worse. II Great
Britain has 10 pay 8 per cent in New
York. dcpositng ms collateral non.
British funds. the rates for great
German loan would certainly not have
been less stiff.
Allies Foreign Resources.
England and her Allies have used
their foreign resources freely. They
have compelled their citizens TO sell