Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-04-29


ne T. NAuMNNN. Of "Mi't"'-Europa '
~ fame. makes in the Vossischc 2ri-
'ung strong appeal for am Auetro.Dcr-
man economic union as the beet means
Of facing the difficult situation that will
confront the Central Powers after IN"
war
After romarling that II is not a mat
ter Of satisfying an the producers. wauU-
Cacturcrs and dealers I'm the countries
concerned. but only or increasing husl-
ness, turnover and sphere OF action a-
whole, and leaving 70 jndus'rials 10
decide whether and 10 what cNt"m they
are willing or able to mak" us" 0i the
opportunity afforded them. Ne continues:
The period after the war viii have
It's bitter economic troubles. whirl will
press most severely upon the Central
Powers. hitherto isolated and hoyCotted.
our economic system which depends ON
imports. win be dra.reI dry aud cN-
hausted to 4 greater extent than any
modern economic existence has ever been.
Those who carry ON our industries WILL
i. is true. have money in their pockets.
but no wool in their stor"houscs and
no copper in reserve Tn" purchasing
power Of Central European money has
increasingly diminished. and In addition
this money will be very heavily drawn
upon for the purposes Of taxation.
MutunI Agreements vital
with this money of which 'hc inter-
national value has 50 deprecated we
shalt have to make very expensive pur-
rhases. and that. too. when there will
hc far-reachinC restrictions on purchase
licenses and on cargo space. In such
situation an unnecessary competition
with our allies must he avoided al any
cost The experience We have gained
i'm tho war has taught US that no worse
thing can happen than that alNeS anu
their official representative should
force prices up against carh other IN
neutral markets. To put the matter
briefly. i'm the matter Of transition econ
omv We must either keep 10 our mutual
agreements or quarrel over every single
thing that We pUr,has" We shall either
make mutual plans for the Distribution
Of cargo spac" or try to steal 1t from
each other.
1T is in this fact that thcrc lies q
far stronger rOmpulSlOn toward q
common economic policy than is patent
to the looier-On. for that Whlcn We
term transition economy is not IN az
, probability mere Temporary $lhlr or
affairs to last only until the return Of INC
old conditions. but iS tho beginning of
a lasting procedure. the ultlmat" d'-
ycIopment Of which no one can i"r'5e'.
Must Make Common Cause
while. laying aside any prcConcoiNed
ideas and an theoretical socialism, we
devote ourselves to the intricate task "I
reconstruCting our economic system
earnest consideration Of the actual en-
rumstances shows that. henceforWard,
there will actually he real pplluCh
economic systcm--a phenomenon minor
to almost confined to literat e--hN
. yyhi.A is meant central government
. control of sale and purchase. aud Of the
methods. extent. and valuation or nr'-
= duction. 30 one will wcIc"n" ih'S S,hl"
, guardianship, but when does destiny
. ASK if IL Is Welcome
, DO" Ana as if nv an inevitable destiny
Central Europe is faced by the ucceS'
sity Of making common cause IN hrGln-
ming and partially submitting 10 state
control Of its new economic ne. 1n'l
UiIl he SO completely unavoidable whCr
. tho door Of international intcrcours" Is
, once more opened that all protest !,
futile Nevertheless II Is wen 10 b'
prepared This necessity has beer
p rrasncd bv the central offices for trans
{ ition economy in both countries. Have
those upon whose shoulders rests thC
actual responsibility Of our induStria
life grasped II, too"
Former Money Value Lost
> "Tho whole purchasing power Of our
new Central European economic sys'
tenn depends upon our payment media
j .-pXChanEe-nO btllE h't''' l''''h W 60
4 i,nnossible extent. our money VIII. indeed
q probably never regain its old value, but
throughout the world definite. fixed re-
q IatIons. that is, exchange values, must
bo determined, in order that it may he
. rossible to know what sum will have to
be Maid in the case Of long-term agree
ments. Both transition economy and oul
I future commercial dealings with Austria
. depend on an agreement Of this kind witt
- regard to the exchange.
Y "Slnce, moreover, we frequently hno
}. ourselves participating as creditors ID
- the public and private undertakings oI
= our ally. the maintenance of her pur'
. chasing power becomes a matter thaI
( affects us very nearly, while on hel
!. mart she can desire nothing more ur'
gently than our financial stability We
have had losses enough abroad IN oui
Investments throughout the world anc
1 do not wish TO end by running eact
other. But that presupposcs the Wisf
3 IN increase our profits by harmonious
markets. .,,.. duo
I "But We cannot increase this mutua