The Cordova daily times., 1917-12-28
GERMANY FEARS POWER OF
 AMERICA

AMSTERDAM. Dec. 2S.-The Unit ed States assumes an astonishing in all German discussions of industrial and economic conditions after the war. Seldom, if ever, before in European history has an outside power been so unanimously conceded a place as a determining factor in European affairs. Thus, an article by Professor Franz Eulenburg in the Re- view Welthandel, although dealing solely with probable commercial con- ditions in Germany after the war, finds them largely bound up With the possibilities of American workers, and the article is filled with references to the United States and it's commer- cial future as vitally threatening Germany.
 Professor Eulenburg believes that the hardships and privations which the German people have endured and the discipline which they have 1earn4 ed, have created in them a capacity for economy and hard work which will be their greatest asset in the re- building of Germany after the war, and will be their greatest advantage over Hess well-disciplined peoples like the English and the American. Discipline and rigid economy, he de- clares, will be the chief requisites in the great world task of restoring prices to normal levels.
 "One of the greatest problems after the war will be that of prices" he says. For Germany it will be a ques tion of life and death that prices shall fall again from the dizzy heighs which . they have now. attained.
 tsr sAf War the f1vsf iii 1s. lyTie .ss ss-
 in the world-market generally will re-
 main high, not only in Germany, but
 all over the world. The causes are
 not the same everywhere. In the neu-
 tral countries and the United States.
 1t is less the shortage of goods than
 imitation that has led to the dearness
 Of everything. In some cases these
 countries are actually swimming in
 gold, and this necessarily involves
 its depreciation. It comes to the sama
 in the end, however, whether the cost
 of production is increased for this reason or for that. These countries
 will, therefore, continue to have high prices for a considerable time after the war, and there, too, people will
 have to do without the stream of work
 permanent rising of prices.
 "In addition, there is a special ob- stacle in the difficulty of procuring labor. It is clear that South America, Eastern Asia. and the United States after the war will have a level of ,N,sia eli, lou. y. tries also the cost of production will continue high for similar reasons to those cited in the case of Germany. The United States will for long time have to do without he stream of work CTS which yearly flowed into that country. Labor in the cotton. wheat and mining districts will be scarce for years, and for that reason wages will be high. In view of the general scare itv of and demand for raw materials. home prices for goods will also re- main high
 'The cost of production for manu- factured articles in England. the United States. Belgium and Switzer- land. will not be appreciably lower than in Germany. Thus the competi- ton in prices by the manufacturing countries appears to be practically on an equal footing, Even Japan will not be able to offer her manufactures at such low prices as to flood the world market"