South Bend news-times. (South Bend, Ind.) 1913-1938, 1920-07-05

BERLIN, July 4.-Germany -
here 10 stay. Germany was built TO
withstand the shock of wars and
she most surely Will weather the
critical storm period of Europe's re
construction.
Such impressions are forced home
on the casual visitor 10 Germany to-
day, in spite OF all that he has read
OF the Reorganization of the cOun-
try, in spite Of all that he is told
about the acute food and price sit
uation, and in spite of all that he
sees Of the nations political muddle.
IN many respects Germany is al
most as much OF a political question
mark as Russia. The cost of living
situation has become much more
pressing during the last two or three
months. Disorganiza ton, Of course.
there is. though not 10 the extent
that one has been led to expect.
Distinct Impression.
But through various channels one
gets a distinct impression that the
Germany of today. for purposes of
publicity is not being as sangOine,
vocally. about its outlook, as the
facts warrant. Here and there notes
OF complaint are sounded that
somehow bark back TO the locked
of a championship game. Bear
stories" we all remember leaked
out from the secret practice field.
tales of injuries 10 players, perhaps
stories for the false encourage
ment OF the enemy camp.
You have all read these Ger
man bear stories" There's a lot
that is true in any OF them. But it
is impossible to avoid the conclu-
sion that "Heinie" isn't averse TO
displaying his raggedness and his
wounds at the most important inter
national crossroads he will
continue 10 be pessimist until rep
aratiOns are fixed, or SO long there
after as there is any controversial
and therefore possibly changeable,
item in the bill covering in part the
late UNI leasantness.
Consider an example. Germany is
printing much paper mOney-much
more than should be printed by
government which has a compare
lively small gold reserve; much
more than is warranted by the gen.
eral financial condition OF the ma
ton.
General Publicity.
Presumably, general publicity re-
garding the extent of this printing
cheaper il, make prices Of food and
necessities higher and make the
dollar value OF the mark lower.
There is therefore, a certain amount
OF official secrecy about the extent
or paper production.
But you ask a great banker or a
high official 10 explain why the
value of the mark has improved
abroad. and he Will quote you some
of these figures: he will tell you that
before the war paper money and
bullion were in a certain ratio ana
that today IL Is in such and such a
ratio-an infinitesimal fraction of
the paper money being backed by
any tangible security. He Will cite
YOU various and sundry other facts
all going TO prove that the mark has
no legitimate right 20 be worth to-
day as much as one thirty-sixth OF q
dollar
American business men, American
government representatives and
American newspaper men Will all
tell YOU that government aud bank
ing officials. in their public or con-
fidential statements, have constant
is predicted things for the value OF
the mark during a period or four
or five months. And they're persist
Ing III IL St4Als AZ St4NN "a NAAS 0NS'-'s
rise IN the foreign value OF the
mark
The value OF the mark in Ger
many is another story. It's pur-
chasing power is a Iitiful thing
More Of that elsewhere.
Makes Estimate.
In Berlin. also. many people are
trying 10 estimate the number OF
billions OF marks held abroad for
speculative purposes. For the money
kings Of the world have ruled on the
future OF Germany and found Il