The Washington times., 1921-09-25

this difference through the interest
OF its foreign holdings.
But 1t cannot continue its present
system indefinitely, since Il would
then sell out its means Of production
and cease to be productive. II must
therefor seek to create an excess Of
exports. To this end all economic
and state means Of Germany are
now engaged. Even the wirth tax
plans serve to this end, for the high
taxation Of consumption limits the
Internal use and the strong increase
OF customs decreases the imports of
all not indispensable foreign wares.
One. saves on the import and seeks
70 release a greater amount Of man.
ufactured goods than previously, by
checking the internal consumption.
But this economy policy does not
suffice to bring about the excess
needed by Germany reparations
economy. II one reckons that from
the four milliards gold which Ger.
many has TO deliver. about one and
one-half milliards can be covered by
material deliveries, there still remain
two and one-half milliards gold over.
IN raw materials and manufactured
goods texclusive Of food and cattIeD
Germany exported at the close OF
isl3-her high point 800 000, 900
gold marks more than she importsd
This active balance was, however.
more than offset through necessary
food importations. These figures
teach that even IL the German agri.
culture could be so intensified that
no FOOD Imports were necessary and
the industry reached it's pre-war
standpoint, II would still be neces.
sary TO raise the German export by
one milliard gold marks per year.
SpirituaIization Of Work.
In other words, as things now stand.
the reparation problem can only bo
solved through q German export of
two to two and one-haf milliards more
annually than before. That this means
terrific straining OF the German
labor power needs no discussion. But
this extra labor cannot be accom-.
plished In Germany by q mere incres &C
or hands and labor hours. For the
number Of the unemployed and part.
time workers now is not 20 great as
the number Of the standing army BE-
lore the war. And the hours OF labor
cannot be immeasurably increased,
1890 shN ohbtS pOoitANo bOClAl IV1ulI
or the German revolution-the eight.
hour day-cannot be made retroac tive.
without further ado. The increased
deliveries OF exports music therefore,
be accomplished through better uae OF
the working time. through further In.
tensification. naturalization and me-
chanization Of the German work.
That would mean an increase Of
German ability. Not that alone, but
a capitalization" Of production must
be undertaken. Such a process II Al.
ready occurring in the already i'm.
proceed working methods introduced
and In the linking together Of under.
takings engaged In similar lines. This
linking follows mainly American lines,
50 that uniform production can be fur
ther upbuilt. When one speaks Of a
capitalization" Of production, one
thinks OF those manifold characters
tic accomplishments for which Ger.
nitrogen from the air; fuel from ashes
valuable chemicals from byproducts Of
coal and metal processes.
Only II this methodical reorgani-
zation and spiritual penetration Of the
whole production process Of the Ger.
man agriculture and industry sue
ceeds. can Germany meet her repara-
tions.
Hint Of Comnaercial War.
Nobody here really doubts any more
that such q reorganization Is possible.
But outside in the world one does not
appear TO realize that these masses Of
goods must be absorbed by the world.
These exports signify for other in.
dustrial lands q competition; their
prices Q whip on competing indus.
tries. Germany, which makes these
niillisrd deliveries, will be q greater
land OF mass production than before
the war.
And Germany can have no consid.
eration for its competitors, for Il must
ssil the utmost possible at the highest
possible prices, against the worlds
gold. no as to wrest its freedom again.
with this gold. from its eonquerors in
the world war.
Therefor the problem Of German
reparations Ii the economic problem
Of the world.
Ship Wrecked In MId-ooean.