The Bridgeport evening farmer., 1916-07-19
BANKER JUST RETURNED FROM
 SCENE OF WAR SAYS GERMANY
 MUST MAKE PEACE WITHIN YEAR
No Nation Can Stand the Economic Pressure That Now is Brought to Bear Upon the Central Empire Lauds Herbert Hoover For Belgian Accomplishments

Alexander J. Hemphill, chairman of the board of directors of the Guaranty Trust Company and treasurer of the Belgian Relief Commission, who re- turned from a two months tour of l Germany and Belgium last Saturday,
 gave yesterday his impressions from his trip. Although he spoke optimis- tically of the German crops as the pos sible salvation of that country, there seemed to be no doubt in his mind that it must eventually yield to the economic pressure upon it. He told of the confidence of the German bankers in their ability to meet after-war con- ditions, despite their unparalleled if nancial burden, by means of the re- serve taxation power of the country; predicted wholesale emigration from the belligerent countries unless it was prohibited by law, and spoke enthu
 siastically about the work of the Bel gium Relief Commission and the grat- itude it is earning for America. No matter what other conditions peace might bring, he said, the dollar credit was here to stay.
 Everywhere in Germany they are anticipating much greater crops than they have had in recent years, and upon them they are laying the empha- sis of eventual salvation" MT. Hemp hill said. From a superficial point of view at least, their wheat is flourish ing. This years crops are all a ques- ton of proper fertilization with phos- phates, on which depends the growth of the wheat berry No one can tell
 until the harvest whether on account
 of shortage in phosphates the wheat
 berry may fail to develop, the wheat be but an empty stalk, and the crops all worthless. Superficial1y, at least, they look promising, in spite of the
 lack fo sun and the heavy rains.
 Fear For Meat Supply.
 Right now the Germans are spend- ing all their energy on producing cat tie. Germany is very short on all fats, and upon the condition of the cattle de-
 bends it's entire meat supply. The pres
 ent condition is causing considerable anxiety throughout Germany
 "As to her financial condition, Ger
 man bankers with whom I spoke had
 no question of Germany's ability to re-
 store her exchanges and to liquidate
 her heavy note issues. At the pres ent time, with the exchanges so heavily
 against her Germany would find it a
 fearful task to pay her debts to the
 outside world. Some scheme must
 be devised, first to restore the exchan-
 ges, then to pay the debts. The idea
 of Germany adopting the silver stand ard as a remedy for her unpleasant po-
 sition is ridiculous. Germany is too large nation, and one that depends too much for her wealth upon trading in all parts of the world, to afford to relapse to the silver standard.
 up to the present time, as far as
 her finances go, the blockade has been
 blessing, and has enabled her to hold
 to her gold reserve. German financ- ing has all been done on the inside, and as yet there has been no problem with regard to- the outside world. With the end of war will come that prob lem, and the German mind must solve it. Her trade during the last twenty five years has made her the second
 richest nation in the world, and to bold their country in this position, Ger , man bankers must bend all their
 thought. They must solve problem
 that has never before presented itself sin just this way.
 There car be no doubt that the food
 condition is causing much anxiety. , With meat, bread, and butter cards, German officials are trying hard to or
 ganize the country's food, and to make l what there is go the longest way. To this end, they are trying to systema- s tize production and consumption, and 3 the future ought to see still further t improvements.
 3 Must Eventually Give In
 "Of course, Germany is financing the war almost entirely without excessive . taxation, or war measures of that sort It is the belief of German financiers that this will be the economic salta- l ton of the country after the war be-
 cause of the great reserve of taxation
 power. Tobacco, for instance, has not
 been touched, and there is great pos
 sibility in stamp taxes.
 'I believe that no nation can stand 7 the economic pressure that is being
 brought to bear on Germany. They
 will be forced eventually to give in" c Mr. Hemphill then turned to the ] work being done by the Belgian Relief !. Commission, and said that America l had saved the lives of countless Bel gians who must have starved to death = but for her help. At the same time l he emphasized that the need had nev- CT been more urgent, despite the aid o1 I truck gardens which had been started ! wherever possible.
 I What especially interested me-" he
 said, was the work of the Belgian Re- r lief Commission, under the auspices of , which I visited Europe. One cannot
 help feeling all through the little f country that it is under the heaviest weight of gratitude to the United States for the work which MT. Herbert ' Hoover has organized. Every Belgian
 during the last two years has been
 able to get food ration, and there is
 no doubt that this, and this alone, has
 kept the nation from starving The [. work of the Commission is now being tt supplemented by the small truck gar dens which is attached to every Bel ' gian home. What is sustaining Bel
 gium more than anything else, is the !, hope that the Allies will eventually be in a position tp compel evacuation : of territory which Germany now holds.
 King Albert's Gratitude.
 Just how great a debt King Albert feels that his nation owes to America t is shown by the fact that, at time t when he had given up seeing people :, he granted me private audience near = the front, so that he might express his :. appreciation. There is no doubt that
 IloIoior nonn1o fooI tbot X,,o.;