The Bridgeport times and evening farmer., 1921-11-23
GERMAN BOOM
 CANNOT LAST.
 SAYS ANGEL
When Time Comes for Ger many to Buy Cotton, Rub Der and Other Raw Ma terials She Will Find Present Mark Inadequate.

London, Nov. 23. = The man who anticipated fifteen years ago in ''The Great Illusion" the present industrial position, returned to London from Germany recently.
 Norman Angen is a serious man, but he has some difficulty in not smil- ing at the panic-stricken efforts now being made in this country to escape from a position that is largely in his opinion, of our own making.
 The extremely critical situation he said, "has in the main been de1ib. erately created by ourselves. The very people who are now crying out for a remedy simply would not listen to any economic consideration when the war settlement was being made. The Gov ernment at that time was hag-ridden with the clamor to make Germany pay.
 Not Surprised.
 MT. Angen is not in the least sur prised that British manufacturers now find themselves unable to com pete against underse1ling by German exporters. '"This competition,' she rate effort to find money with which to make reparation payments. In doing so Germany is running the British manufacturer and incidentally, sa self" the long run' impoverishins her
 Her factories" he went on, "are bulging with orders, and many have actually to refuse work, but the Ger
 
 backs. Out of our poverty said one manufacturer to me, i've are making Christmas presents to the foreigner "
 So the German boom can't last?"
 ''No. it can't possibly last, and all the thoughtful people over there know that it can't. When the time comes for them to buy cotton, rubber, petroleum, iron and other raw mater talS with the present mark they will no longer be able to underseH to such an extent.
 During the next few months the cost of living in Germany is going to soar, and the people will not be able to support themselves on their present earnings. Then there will be grave industrial disturbances, and the cur rency will depreciate still further.
 "Even, therefore, if our manufac- turers become comparatively free from German competition we shall be no better off because Germany will be still less able to become again a market for our goods''
 Are export credit schemes, the building of garden cities and more likely to improve the position in this country?'
 Mir. Angell waved them aside with a sweep of his arm. -'So long," he influences and prejudices to remain and have regard for special interests and the protection of what are called key industries, such schemes are
 
 No Quick Remedy
 What remedies would you sug- gest?'
 There Is no short cut back to prosperity and employment. There is no quick way of adjusting the ex- changes that are making trade inn possible. The process is bound to be a gradual one. The only policy that can possibly restore the position of this country must be based on funda- mentalS. I would suggest:
 t"The wiping away of certain of the war debts.
 Reduction of indemnity.
 Abolition of restrictive legislation, such as the Safeguarding of Indus tries Act and the economic sanctions on the Rhine.
 Cutting out of all waste, such as wars, armies of occupation and exces- sive armaments, and so making pos sible reduction of taxation.
 Probably the creation of an inter national loan for the purpose of faci1- itating credit.
 Relief of the famine in the re-es- tabHshment of trade with Russia"
 In conclusion Mr. Angeu insisted that the problems of peace must be approached in the same spirit as the problems of war.
 'fSo long," he said ''as you can't mobilize patriotism for peace as well as for war your peace problems will remain unso1ved. And if you refuse to recognize the fundamental coon omic laws governing the position you will throw away money on schemes that will have only a momentary ef-