El Paso herald. (El Paso, Tex.) 1901-1931, 1920-10-18
STAMP LAW NOW
ISGERMAN PLAN
TOMAKEMONEY


Berlin. Germany. Oct 1s.-German
marks bought up and held by Ameri-
can spectators may suddenly become
so much worthless paper, If a group
Of German financiers persuade the
German government to adopt their
proposed stamp law. The stamp
law. successfully carried out in
Czecho-SloVakia, provided a limited
time during which all paper money
had TO be presented TO the government
for Stamping Money uot-in the coun-
try did not receive the stamp ana be-
came worthless for Czecho-5lov Va kia-
Herr Erzberger proposed 2 similar
law for Germany The allies protested
Of millions Of paper marks held IN
their countries by spectators, so
herr Erzberger dropped the matter
The German finance ministry esl-
mated that 20.000.u00-000 paper marks
were being held ia foreign countries
July l. Foreign Spectators, man1pu-
laLinE their mark holdings drove the
value Of the marx SO rapidly 70 q
comparatively nigh polns Lnal y -
brought German export business 70
stands-ill- Foreign manipulation mas
resulted ia the German finance min
fstry becoming absolutely helpless IN
their efforts TO regulate German e@-
change by controlling imports ana eN-
When q group Of American finan-
eiers who had a pool Of more than
100000, 900 marks threatened 70 orlNe
the marx Up to cents and then 70
dump their holdings and let the mark
crash, few ADVISERS OF the finance
ministry concluded that their most
effective weapon was 20 lnTalldale the
American holdings by giving 20 10 %
money. II would be impossible 10 re-
turn any large proportion OF the ~
900. 600 COO within this time, and Ger
many would not only wipe out lne
spectators, but would wipe out Win
them a large part OF Germany QeDt
erDressed IN their wholesale printing
Of marks
me stamp law advocates are gen
orally optimists who believe Germany
viii come back financially without
other group Of fiuauciers also repre-
scented in the finance ministry DelleNes
that Germany is now bankrupt ana
that her only salvation lies IN taxing
the whole world into partnership IN
her indebtedness. They 90 on the the
DRY that creditors may close ous
small debtor through bankruptcy but
that when man owes 100 muen ana
creditors must finance him and do not
dare make use OF the bankruptcy
i believe in selling the entente
and neutral countries al Llie MARKS
they viii absorb" said a counselor OF
4 group OF banking interests They I
don't dare let the mark fan TO its real
value now. because it would ruin them I
with It, The mark is more popular Z
TO-DAY than the poker chip for gam /
bling II we can Increase the en- I
fents-s and ueutrals' mark holdings I
from Z1.O00.oG0, oo0 to 50.00Q.oo0o00, I
the German finance ministry VIII not /
have TO worry about maintaining he I
rate OF exchange. The foreign specu- Z
IA tors VIII have to do it IN self de- /
fence
A third group Of German financiers, I
represented by commerzienrat Lehrer, !
Berlin, wishes TO convert the 10000 I
100000 marks in foreign countries I
into interest bearing bonds. These /
bonds VIII be redeemed by Germany /
In exchange for German exports. eX-
plains the Berlin Bourse Courier AN /
International conference to discuss
the plan viii be held within month /
a. The Hague