New-York tribune., 1919-04-28
Germany to Seize
Securities to Pay
For Food Imports
Foreign Issues Will Be Con.
scripted to Meet Bill of
4OO,OOO,OOO Marks for
Supplies Urgently Needed

WASHINGTON, April 2S.-An i'm
portant article dealing with Germany's
economic outlook published in the
"Koelnische Zeitung" was received
through diplomatic channels to-day.
The paper says
"The law passed in March, 1917, Civ
ing the government power to contiscate
all foreign securities in German hands
is about to be put into practice. Ger
many needs food badly and must pay
for it. AS our currency is at a discount
abroad we must pay in foreign securi-
ties; whether Scandinavian, Swiss,
American or others are to be made use
of has not vet been decided. There will
be no great choice, as large quantities
Of foreign securities were sent out of
the country during the war in exchange
for food and raw materials. Securities
tor which there IL an International
market Will probably be called in first,
"About A00,0Q0QQ0 marka viii be re
Qulred 10 pay for the most necessary
food suppllea, The state win he Obliged
to provide considerable sums tor thia
purpose, Aa u viii he Necessary TO make
the rate OF decentralization generous
one II aeeurlt'ea Ara to he torthQom,ne
llerr Seh,Ifer meda It Glenr at WeImar
that No reduction of ne ahOnO,ON
mavke asked tor hy the government vas
possIhle, sMoo Slh,ONn,NNN marks had
A|raNdy haaN apent and u further sun,
meet hills of exchanges, ONLY l,0N0,o0
marks ramaln, and ANnthev credit Will
have 20 he voted hefove long,
NNermANN's eNp0Nt trade 50 gNNei a0
oNmWlatuA stocks ave exhausted, MA
NhlNeN "a WNrn 0Wt or damAgNd and
tho national dent HAS assumed eN0i
NOUS prenortl0Na, NFpherHer assWies
vs. That we have reaehed the l0West ehb
eeoNamieailN and that our ppospeets
ava NOW en the up grade, We eann0t
agree with him. only a return W
ordered conditions aud hard work can
produce such q result, and of this there
is nc sigh. The prices OF coal have
risen enormously during 1919 and are
now three aud four times "a high as
before the war. But in spite of this
fact the mine owners who belong to
the coal syndicate are discussing new
prices. They put every increase down
to the higher wages demanded by labor
and no one dares to murmur. The split
between consumer and producer grows
daily wider. Specialization of the mines
will help but little if the supposed in
tcrests of the miners alone are takcN
into account.
"The socializaton plans Of the Ber-
lin government appear to be less con-
cerned with the actual working of the
mines than with the organization
formed for the sale of their products,
more especially with the coal syndicate
Twenty nine districts have been formed
and each of these has been allotted to
a special company. Wholesale mer-
chants are obliged to become members
of these companies. State organization
is to take the place of industrial en-
terprise. Whether the new order will
prove a success is doubtful, for the coal
trade is not an easy problem for
bureaucracy to deal with.
During the war Hollands produc-
ton Of coal has made great strides,
especially in the case of coal used for
industrial purposes and coal of in
ferior quality. Keen competition is to
be anticipated, even in the home mar
kct. Indeed, the whole question Of coal
export will require most careful atten-
ton and it would be we'll for the gov
ernment to leave it to business men
who understand it"