Evening star., 1921-10-02

result in Great Britain was the en-
actment of tthe Safeguarding of in
dustries act of 1921" to save Great
Britain's economic and industrial life.
France and Belgium have been COM
PEELED to take similar course.
Lurking Peril to United States.
These events have an important
bearing on the separate treaty with
Germany. and suggest that economic
peril to the United States turks in an
attempt to enforce the economic terms
of the Versailles treaty or compel in
demnity by the acceptance Of mer-
chandise. Great Britain's experience
may we'll be q suggestive warning.
Primarily, the United States IL con-
cerned with the payment by Germany
Of damage to property and loss OF
American lives. During the war the
United States seized between $685.
ooo. 900 and $3.50, 100000 of German
property, based on valuations between
1917 and 1919. The alien property
custodian is now reappr3isins TINS
property on present valuation. What
will be done with it finally is an eco
nomic problem to be solved; .,,. .o,
The United States is vitality con-
cerned in trade and commerce with
Germany. If the payment Of Ger
many's. debt to- the United States In
wolves the acceptance of manufae-
tured goods and merchandise to the
injury of American Industries, the
Can the United States afford to re-
ceive large quantities Of goods from
Germany, pay for them in cash, and
have the funds turned over to the
allied reparation commission: AL
ready increasing imports from Ger
many furnish a problem for the
United States to solve. Imports for
the last three calendar years were:
1919, Ss44.ss1: 1890. $45.0S5,s75; 1921.
$s0,773,756.
Germany Strong Economically.
Germany is In a strong position eco
nomically, however weak she may be
financially, Lloyd George said re-
Gently: "The mark is not as ragged
as, it appears" The paper note cir
culation Of Germany January l, 1921,
was sO,S3S, 100000 marks, and Ger
many's debt in March, 1921. was about
400, 600, 600. 900 marks, Paper marks
temporarily are solving Germany's
economic and financial problems at
the expense Of other countries and
giving her a tremendous advantage.
but they are slowly bleeding Germany
to death. II Germany, is reduced to
economic helplessness by the repara-
ton program and the use OF the print
ing press, what Will be the erect on
the rest Of Europe and on the United
states? Germany cannot exist on a
paper currency, and the allied pro.
gram under the Versailles treaty is
robbing Germany Of her gold. The
crash is inevitable. II to Russia's
loss of economic and purchasing
power is added Germany's- collapse.
the whole world will feel the shock.
is 1T mot reasonable Ito assume that
a separate treaty with Germany,
avoiding the economic pitfalls Of the
versailles blunder, is wise?
Germany is underbfdding the world
In the production OF staple goods, be-
cause she pays her labor in paper
marks, worth in gold less than one
cent, often resulting In wages Of less
than cents day This is disastrous
competition for the rest OF the world.
Including the United States.
Hence. does it not seem logical that
the United States. through a sepa-
rate peace with Germany. should en-
deavor by its good offices to correct
the wrongs Of Versailles. exact from
Germany only what Germany. can
nav with safety. and. refuse to fan the
farnes OF economic peril which may
consume the rest Of the world, in
Guiding the United States. In the
meantime postponing q return OF. In.
dustrial prosperity and q decrease OF
unemployment? - :