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

WASHINGTON, Aug, 3.-In 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
a criterion OF the financial affairs
OF the empire, amounted 10 more
han s65.000,000 as against s3l,725.-
900 for 1914, and the war tax and
other charges paid TO the govern.
ment for the privilege OF doing bust
ness exceeded s47. 500. 900, as against
$l0,362.000 in 1914. The gold re-
serve OF the Reichsbank grew $685.
10000 1852 100000 marks) during
The year, making the entire accumu
lation during the war $3.50, 900
This was despite the considerable
amounts of gold sent to foreign
countries in payment for foodstufis
reserve on Dec. 81. 1915. was $3.50,
526 900.
Big 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., zoe, 600
more than the Withdrawals: and the
total flow OF capital into the savings
banks in 1918. not counting sub
scriptions Of depositors TO war loans
was ss92,5OO.0OO.
The subscriptions TO war loans by
depositors have amounted to sl.07l,-
100000, all but s6O,oO0.OO0 OF II in
1915 During the year the govern
ment floated two war loans-s2. So
2S0,00 in March and $3.50, OBS. 900
in September.
The production OF hard coal and
coke was Il 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 well. The Potash
Syndicate's sales were s25. 22S, 900,
as against s36.s9O.O00 in 1914 and
s45.696, 900 in 1913.
Under government encouragement
much land is being put into flax.
Though a substitute for cotton in
explosives was found and used vast
ly. 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 to war condi-
lions, declared larger dividends In
1915 than In 1914. The total chem
ical 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 po-
tatoes, held BY small farmers and
dealers. became available in such
quantities at the end OF the year. Mr.
Lay says, that the careful distribu
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
ouate imports.