The Bridgeport times and evening farmer., 1920-09-22
GERMAN IDLENESS
GROWS; ANY
FACTORIES CLOSE

Berlin, Sept N22.- Some very pretty
bits of internal f1nanciering have
been perpetrated in Germany since
the war ended. Among these. per
haps the prettiest of all IS that Whlch
it is now revealed was worked bXi
Prussia. completely extinguishing her
old national debt through a pront-
able deal by which she, as well as
all the other railway owning states.
laSt spring transferred to the new
Gefrnan republic, at good prices, the
work. out railway systems with tnear
deficits.
1t was principally stae railway bur
dens which had put the finances OF
the State into bad situation. The
deficits have been greatly increased
by the necessary appropriation OF
200,000,0o0 marks for the support
of unemployed, and not less than |
6O0,OOO,0OO marks for the repara- |
ton of damage done during riotous |
disturbances. The fact that the in
terna1 disorders have led more to the |
destruction of property than to the
destruction of life has not been gen.
orally noted abroad. AS a matter
of fact the ruin of property has been
great indeed, and if totaHed up
would be found to represent a sum
appreciable even if set beside the in
demnity demands Of the peace
treaty.
Another difficulty which is con-
fronting the Prussians, who are held
to have created in Germany the war
spirit which led to such violent dis
aster. is due to the demand Of Of
ficials for salaries infinitely higher
than any other drawn in pre-war
days. From agreement to these de
mands the people have found no
means of escape. Recent increases
in official salaries voted, without the
approval of the moneyed classes, but
very much with the approval Of the
official classes, amount to 1881
900, 900 marks.
Two Billion Deficit.
All this gives a deficit on the bud
get for this year of not less than 2,
900, 100000 marks.
Thus the German officials in
charge of finances are confronted by
the necessity for, first, a reduction
'of expenditure, and, second, a discov-
cry of new sources of income.
Just what the new sources Of in
come will be no one seems to be able
to guess at present, but every one is
fearful that they may be taxes which
will hit him personally-hit him in
some new and tender spot And the
er spots. 1t is interesting to see any
Prussian's pomposity vanish at the
one word, taxes. The sight Of a tax
collector will instantly remove any
est Prussian toward that hauteur
which defeat in the war seems to
have affected not in the slightest
degree.
rev German enterprises are pay
ing high profits at present. Among
those few are the phosphate mines.
The German farmer will pay almost
any price for phosphate, either mined
or extracted from the air Any Ger
man who owns phosphate stocks may
be regarded as rich even in these
days of the tremendous deprecated
mark. Phosphate profits from the
export as we'll as that of potash has
been virtually stopped by <he unfa-
vorable mark exchange.
Indeed, these are troub1ous days
for Heinie. The general industrial
situation is getting to be even worse
than it has been in the past. The
public cannot buy of its own manu-
features and the men who manu-
facture cannot export.
The proportion of unemployment
| in many lines is increasing rapidly.
In the textile trades it has almost
doubled during recent weeks. In the
metal, building, wood and general
manufacturing businesses there has
| been a sharp increase. Eighty thou
| sand persons, each one a jobless Ger
| man, recently took part in a very
noisy demonstration in Berlin. Eighty
| thousand lusty German voices were
raised, not in "hochs'' but in anathe-
ma. The boot and shoe industry is
absolutely at a standstill.' In the
metals and engineering industries
| conditions a little better prevail, but
here again is shown the tremendo Gus
need of export trade.
Consultations Frequent.
Little can be done to lower prices
in the metal trades until coal prices
are decreased and until metal trade
prices are lowered nothing really
worth while in the way of prosperity
for a large body of the population
can be expected Coal prices show
no signs of coming down. The result
of this situation is that general
area of consolidation has begun in
the metal trades. Only the other
day the announcement was made of
the combination of three great Ger
man firms to increase output and re-
duce expenditures. This threw great
numbers of men out of enp1oym emit
The new organization has a capital
of 260, 100000 marks. 1t is one OF
the largest organizations in Europe
but is unlikely to make a very SEN
sational success because through the
terms of the peace treaty one of the
larger concerns involved lost its most
valuable property-important iron
works located in the territory coded
to France.
I Germany is in fever of desire tc
regain it's place upon the sea. Thus
every new product tending in the di-
rection of shipb1iIding is received
with public sympathy and acclaim
But the investment of money does not
always accompany the sympathy an6
applause. During the war the Ole
companies increased their capital and
several new ones were founded. These
, are all busy.
The annual shipbuilding capacit,
| of Germany at present is estimated
at from 100000 tons, which was be.
) fore the war figure, to 100000 tons
of course, with full yards. The yard:
| would be full, even under existing
abnormal labor conditions were i
/ not for the fact that material is un
5 obtaina'ble. Several yards are run
= ming on part time because of a. short
hnif
: in a most unpleasant state of uint
t because, they claim, their Govern
. ment is selling iron to foreigners for
, export while it is denying them tina
, which is necessary for the conduct O
their vital domestic industry.
II A hopeful sign is found in the croI
prospects for the autumn. A YER
i good harvest is expected in almost al
: staple lines except oats. But durins