The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-02-22
GERMANY /! /: /:
!. Will | PAY, =:
!. PAY A !, PAY!
None Of Them Now Alive will
Be Living When Last Dollar
Has Been Handed Over
By RICHARD SPILLANE

"A cablegram from Zurich the other
day reported an announcement after Il
meeting Of the finance ministry IN Wei
mar that state of bankruptcy be de-
clared throughout Germany. In this
event, according to Finance Minister
Sudekum, private incomes would be
confiscated, allowing individuals only
such an amount as they actually need
ed for SuStenance.
This would be interesting and i'm
sportant, if true.
If any nation were to embark on
such communiStic undertaking the
world at large would prefer it should
be Germany for it would be followed
BY disorder, travail and woe.
We are likely to have all sorts OF
reports as to what Germany intends
to do. They may be taken with a
grain Of salt. Some will be 70 worry
the allies. Some will be for home con-
sumption. Germany, to use figure Of
speech. lis between the devil and the
deep blue sea, the devil in this instance
being debt which appals the German
statesmen and financiers. 1t is to their
interest to make it appear as If they
= cannot pay any thing like what the al
lies will demand in the way Of indeIn.
mites, and every ruse and artitice will
be utilized in that direction. In the
end, however. Germany must pay what
the allies tell them is the penalty for
the crimes they have committed. And
Germany will pay, but not without pro-
test, threats, lamentations such as we
never heard before. -
g. It would be easy to prove Germany
is bankrupt, today. ,..,,-.,,....,
It would be Just as easy to prove she
tsts not a1Jgz e =. d. q t,:.l~
: !: 1t depends wholly upon how you
wish to view the situation.
AS the wealth Of nations is estimated
Germany's wealth is put at $SO,O0O,-
600, 600, and her national debt ut $4O,-
.OoO,OOO,OOO. When you add to this
debt the indemnities which she must
pay the situation seems hopeless. That
Is what the Germans would like the
world to think, but the physicians Of
finance among the allies have dag
nosad Germany's case and they will
prescribe long course Of treatment
FOL. the patient that may not be pleas
ant for the sufferer but will be salts
Tying to the others. .. ;
What the allies will exact from Ger
smany is to be determined. The esti-
mates run from 40 billions to 100 bill
lions. Manifestly this could not be add
ed to Germany's domestic debt with
out utterly crushing her. ,
ga Is jti s ae i1 an ns ' %s q. e
likely to See it in the way Gerlnany's
debt problem is handled. ,
- Without any .pretense to prescience it
may be said that something after this
form will be the plan:
The allies, after arriving at fair
calculation Of the cost Of the war to
them, will estimate what it is posi-
bic for Germany to pay. They will fig.
s 4 SER, s,sEmany y not h hay
large navy or standing army, the bill
lion a year saved will be equivalent
to interest at rer cent on 20 billions.
They will insist that the internal
debt Of 40 billions be scaled down or
deferred or both for the allies, neces-
sarily, become preferred creditors.
They will dismiss or give scant con-
'sideration' to this 40 billions of domes-
tic obligation. 1t may be funded to
be paid or, rather, to have interest
paid after the indemnities are dis
charged, but not one mark until then.
II the allies believe Germany can
pay interest and principal on so bill
lions Of indemnity that will be the
blu. The amount will be according to
their findings and it will be full. s.,
Before Germany finishes paying she
may pay in interest and principal dou-
BILE or treble the sum named as the to-
tai of the damage claim.
As security for the debt the mate
rial resources Of Germany-coal mines.
potash beds and other properties of
value greater than her estimated ma
ttional wealth-may be pledged
The estimated national wealth Of a
nation is no index to the material I'M
developed wealth. For example: The
British national wealth is put at 100
billions Of dollars, vet the value of her
coal that has vet to be. mined is esti-
mated at 700 billions. That last esti-
- .... -Ih