Arizona republican., 1917-09-20
Trusts Increased
 German E661clemcy

the different banks in Berlin to obtain
 bids in marks selling it then, natur- ally, to the highest bidder. But soon
 the government stepped in. The I'm
 perial Bank was to fix a daily rate of exchange and banks and individuals were forbidden to buy or sell at diff, ferent rate That this fixed rate was false one, fixed to the advantage of Germany, proved at a time when the German official rate was 5.52 marks for dollar, by sending my American
 checks to Holland, buying Holland
 money with them and German money
 with the Holland money, in this man. her obtaining marks 574 for each dol lar And just before leaving Germany
 l sold lot of American gold to Ger
 man bank at the rate of GAP marks per dollar, although on that day the off cial rate was 5.52 and although the buyer of the gold, because the export of gold was forbidden, would have to lose interest on the money paid me or on the gold purchase until the end of the | war. What the Germans thought of the value of the mark is shown by this | transaction.
 Combine for Selling Abroad The only thing that can maintain a
 fair price after the war for the products
 Of American firms, miners and manu- lecturers is permission to combine for 1 selling abroad. There is before con-
 gress a bill called the Webb bill permit ting those engaged in export trade to combine and this bill, which is mani
 festly for the benefit of the American f producer of raw materials and foods l and manufactured articles should be ! passed
 1 It was also part of our commercial work to secure permits for the expor- l tatiOn from Belgium of American | owned goods seized by Germany. We succeeded in number of cases in get 1 ting these goods released. In other | cases the American owned property was taken over by the government. but i the American owners were cOmpen- l sated for the loss
 Germany took over belligerent prop erty and put it in the hands of receiv- | CTS. In all cases where the majority of the stock of a German corporation was owned by another corporation or ind- Vlduals of belligerent nationality the German corporation was placed in the hands of a receiver. The German gov ernment. however, would not allow the ! inquiry into the stock ownership to go l further than the first holding corpora | ton. There were many cases where the majority of the stock of German cor
 
 poration and the majority of the stock of the English corporation in turn | owned by an American corporation or | by Americans In this case the Ger l man government refused to consider the | American ownership of the English 1 stock and put the German company | under government control.
 With the low wages paid to very eff | cient workingmen, who worked long hours and with no laws against com ] bination, it was always a matter of | surprise to me that the Germans who were in the process of getting all the l money in the world should have al lowed their military autocracy to drive | them into war.
 | American Trust and German Cartel I am afraid, after this war, if we expect to keep place for our trade in the world. that we may have to revise some of our ideas as to so- | called trusts and the Sherman law. Trusts or combinations are not only