New-York tribune., 1918-04-18

SAINT, or Imperial Economic Board,
whose task should be to devise plans,
among other things, for protecting the
currency system after the war. It has
been decided that the import of goods
and the export of gold shall be con-
trolled by this board. l recall that
even before I left Germany plans had
already been agreed upon to keep the
import of raw materials in the hands
of the board, and it's function was to
keep imports within such narrow limits
that they might be paid for with ex-
ported goods, or such small amounts of
gold as might be spared.
\This programme has been much crit
,lclsed by exporters and manufacturers,
who say Germany will never succeed
IN recovering her foreign trade posi-
ton II merchants and manufacturers
are to be held in leading strings. In
order to meet such complaints, the
board some two months ago adopted 4
declaration of its policy during .hc
"transition PERIOD" but this was hardly
OF nature to disarm criticism 1t
said that imports must be left as free
as possible, but that purchases of for
elgn goods must be restricted to what
is actually necessary from the stand
point of Germany's general interests
Merchant Ships
Being Built
That real fight will be made for
foreign trade, however, is absolutely
certain. Much attention, for example,
is given to the merchant marine; the
tonnage supply is being looked into in
order to make sure that there shall be
enough German bottoms for carrying
Germany's trade. German shipyards,
too, have been actively building mer-
chantmen throughout the war period,
and some of these are of very large
tonnage. A numSer of new shipyards
have been established within a year
and new capital has been raised by ex-
listing ones.
But the restoration of the CONNER
cial marine is not to be left wholly to
private initiative. The Reichstag is
ton of $7O,OOO,ooO for building mer-
chant vessels, and this is only the first
quota of an appropriation that is to
be continued in later years. Moreover,
q bank recently has been established at
Hamburg, with a capital of S2,400 900,
whose function will be to lend money
upon ships, it's operations to begin
after the war. All of which shows that
the Germans are expecting to have
much foreign trade after the war.
From that standpoint, too, is Ger
many's probable course in regard to
Naumann's grandiose "Mitteleuropa"
scheme to be judged. 1t has been too
readily assumed on this side that Ger
many is fully committed to close eco
nomic alliance with Austria Hungary
and her other allies, amounting vir-
tually to customs union. Such is by
no means the case, and it may we'll be
doubted whether Germany will seek any
preferential trade relationship going
beyond existing arrangements.
Not long ago the Hamburg Chamber
declaration against such concessions,
and pointed out that it was much more
important to Germany to reestablish
her foreign trade than seek arrange
ments with her present allies that must
array the great trading nations Of the
world against her. Well known public
writer's of Germany also are referring
to "Mitteleuropa" as back number.
The Hungarian Premier also has
thrown rather cool jet of water upon
any form of commercial union that
would endanger Hungary's general for
eign trade position.
Must Overcome
Moral Animus
That the moral anmus of the world
against Germany will, however, con-
stitute tremendous difficulty in the
way of winning lost trade openings is