Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-09-05

u there were u strong movement
The other 3a" way, the dii,icuity In agree :,
deterrent. The Kaiser and the
crown prince and the rest OF the
Hohenzollerns are unpopular even in
loath to accept IIohenzollern
monarch. while the Prussians would
object TO Saxon or n Bavarian on
the imperial throne.
On the wtlole, my impression is
that the dangerous political tenden-
! cics In Germany are In the dircc-
ton OF radicalism rather than inn
! pcralism.
GermnnyS Ability to Pay
{ VIII Germany be able to pay n
large indemnity 10 the allies?
The answer 10 that question de-
! Ponds upon my answer TO the next
! question which is: viii Germany
De able TO achieve financial and eco
the allies have already received from
Germany ~ way OF indemnity are
| valued by the Germans at about So
ocG ooe, o9o In gold. The allies would
! ed that further substantial payments
can only be made through the ex-
| ported products Of German industry
/ in excess OF German imports.
What is possible in that direction
Is problematical. II will depend upon
t ,iSs, SXtent to which Germany accom-;
recovery; and that, in turn. will
largely depend upon the attitude and
co,.opcration- of, the allies ana the
Other nations of the world
that. nj best, the amount of the
indemnity payments that Germany
can make. even over = long period
"f ysn,rs vii fIil far below The en-
that the allies best chance OF Sc
curing further indemnity payments
Is 10 make them so moderate that
the German people will feel that
the burdens OF payment are less
or default.
France and belgium are the only
ones that are counting on indem
dou?ncss hope for indemnities. hut
them IN their plans for the future.
Allies Must Aid Recovery.
Can Germany recover from the f.
nancial and economic. distress into
which, she has been plunged BIZ the
treaty o: Versailles?
Ny answer TO this question is
yes, with the help OF the allies. The
answers have already given in
Is at the mercy Of the allies and
ent upon their help and co-opera
zion. Germany's economic condition
today Is very bad. She has lost about
two-thtris OF her iron and about
as rich as, that OF France and Bel
GUM, has been impoverished by lack
Of artificial fertilizers.
The territory she has lost produced
n surplus OF fooi for the res; OF the
empire. For many years 10 come tho
proportion OF Imported food and raw
ma eriais as compared with that pro-
greater than before the war. She
has lost practically all OF her oce.u-
going ships and, therefore has no
Of her population that was eXclu-
sivcly or chiefly dependent upon her
merchant fleet.
The efficiency of the next genera
duccd because Of the u-Lcrfeeding
mas lost al OF tho bulk OF her for
eien Investments and working cap
ital. Even with the help 4 the al
lies, the markets OF the world viii
be less favorable to Germany than
before the war. Germnny's most
promising market is Russia. and her
economic future is in a great measure
Gcpcndcnt OF the reopening OF that
market.
serious Financial Position.
H"rmanys i!nanciaf position Is. IL
ANYTHING, more serious than her eco
homie position. Her currency has
heen inflated to about ten times It's
any appreciable cover In gold or other
assets. The German mark is worth
less than 10 per cent OF us value
In soid. with little chance 81 improve.
inc certainty that the government
Will for u considerable period have
TO issue large amounts of additional
currency TO provide FOR urgent needs
mat cannot be covered by taxation
and loans.
The aggregate pualic debt Of Ger
Many many Is almost zoe. o0o,ooo,00o, marks.
IL . CNncrtS cDntpn1 llmnEt cd
the limit OF her taxation, the
present burden OF taxation is I'M
Houosedly very heavy. The income
me current expenses OF government,
which are estimated NJ about 25.000,-
UUo;oUV marks year. as compared
WIN me pre-war expenditure OF less
than one-s!Nth OF that amount. to say
nothing OF tho considerable losses on
the state railways and postal tclc-
graph and telephone services, the
or occupation which Germany must
Pay. and the contemplated indemnity
payments.
The colossal proportions of tho In
the fact that 10 make annual sink
lnS fund and interest payments OF
T. per cent upon an Indemnity OBJ
! iEaiion OF only $40 100000, 900 would
Involve doubling the present burden
OF taxation
win Work Own Salvation.
II defended entirely upon the pro-
Gcssss OF logic | should say that II
avoid national bankruptcy, just us
one would have said at the outbreak |
q },pb ,ne MR. that it would have been
w s"PTTs 10 ra i9r the nations OF tho
than $4,000, 900. 900 for the prose
cution of devastating Europcan
War ! 90 not say this. because the !
ing logic and finding Il way 10 meet
INC demands made upon H.
My guess. therefore, Is that In,
German nation VIII work out their
economic and financial salvation. pio-
N!ded they receive reasonable coon
Grafton from the allies and the rest
OF The world.
iin'c the German People Lost Heart.
decidedly no. They impressed M.
as being surprisingly energetic ana
hopeful. considering that they had
come out OF the most devastating
W1r IN history a defeated and humIl-
ihted nation ana We're facing the
tcfr!hc economic handicap imposed by
ne war and the treaty OF Versailles
Aey IMPRESSED me as willing TO work
, nara " given the chance; Why should
H.rinauy lose heart Her chief as-
sets are unimpair"d rYoy are tho
'h"rE!, enterprise, nigh technical
SNl!i' organizing ability and pers!s-
Standing Of the Government.
hAt - Tie standing Of the present
'1sriu"n government at home and
The prcscn; German goycrnuon, !,
distinctly moderate burgcoIs gov
uiHnent. 1t is regarded by the allied
E9Ecrnment az The strongest in pom.
o., o., character and ability that has
Cti!or Fcrcnhach and Foreign MIN
istcr Won S!mons made an exccllcn;
IMPRESSION al Spa !, IS an open
49,, '"nL the EoNernncnt OF Great
n. "a 80