The Washington herald., 1920-03-09
LTTTLEHOP
FOR GERMANY
May Soon Be Economic
Corpse Unless Cond-
tons Change.
Won GWINNER'S VIEWS
Former German Magnate
Sheds Gloomy Thoughts
On the Situation.
Won GWIllNER'S VIEWS
Public Ledger Service. Special Gable
Dispatch
ny = Il CoNGER-

ny = Il CoNGER-
Berlin. March S-Herr Won Gvin-
ner, Germany's former financial
giant and creator OF the Bagdad
Railway, believes all Europe Is on
the financial down grade, with Ger
many only rs the pace-maker In the
race to ruin
Il would call your attention"
said Herr Won Gwinner, in q long.
gloomy talk on the financial and
economic situation, ito the fact that
the British exchange now stands
where the German was a year ago.
The French are where We were In
June, and italian exchange already
has reached the point where ours
was in November, We, now, are
where Austria stood three months
ago.
Does not that show we are all
sliding straight to the devil in COM
pany?
Economic Corpse.
Germany may soon be an eco
nomic corpse unless conditions
change and the rest of Europe will
die of the pestilence which the
corpse disseminates"
Herr Won Gwinner volunteered no
remedy, but when pressed for his
views regarding a solution, said.
after the customary German raf~r-
ence to the necessity of modifying
the peace treaty and relaxing the
grip on Germany's throat" that an
internationally guaranteed currency
which would be accepted by all Eu-
ropean nations in dealings with one
GnOthRF 70 a. 4
iactured products and not subject
10 constant fluctuations and depre-
clatlon might enable them to re-
sumo the trade relations which now
are hlndered by the unstable rates
OF exchange. guaranee of all the
european nations might even induce
America to accept the CURRENCY as
a credit guarantee for the foodstuffs
and raw material which none couI6
now afford to buy outright until
paid for in finished products.
DraWback in Occupied Territory,
The greatest cause for Ger
many weak exchange is the omen
wound in the west" Herr Won
fwlnner said. referring to the an
sence OF a, customs barrier in occu-
pied territory. From Basel to the
sea. where. because everyone &c
dumping luxuries and wares and
carrying off grain and other things
so urgently required here. it is i'm
possible to check the fall in value
Of the mark.
While this continues it is i'm
possible for Germany to resume
protection on necessary scale
Nnlle France and Italy continue to
eNtort coal on the present scale -
Difficult to Arrange Credits.
Won Gwinner said that credits
advanced Germany by neutrals be-
I"re peace was ratified to finance
imports row coming due. averaged
NJ that time perhaps $4,000, 900
francs for each of the adjacent neu-
trails. but now through deprecia-
.tions in exchange had. swollen 70
billions of marks 1t is difficult to
arrange new credits with neutraIs
much as these ncutrals desire to
do something 20 permit a continua-
ton of trade. for no sooner did
iiermany arrange a credit basis
barterinG coal for food-than the
entente stepped in and claimed the
coal for reparation.
Americans Bargain Hunting.
outsiders having carried off
Everything moveable are now going
after really. l have on my desk a
heck for $4,000 which the vice
president of one of your banks left
here to purchase a house worth
several millions in our money, on
one of the finest residential streets
in Berlin. 1t is A fine bargain for
MIN. That is going on everywhere
soon nothing valuable will be left
IN Germany"
Copyright, 1920. by Public Ledger Coz