The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-11-27
German Boom
Cannot Last

LONDON-Thc man who antici-
pated IS years ago In Tho Great
llluslon." the present industrial po-
sition, returned 10 London from
Germany recently
Norman Angel. Ia Il serious man,
but he has some difficulty I'm not
smiling at the panic stricken efforts
now being made In this country TO
escape from n position that H. large.
ly In his opinion, of our own max
ing.
THE extremely critical situation"
he said, has In the main been de-
liberatoly created by ourselves. The
very people who are now crying
out for "A remedy simply would not
listen to any economic considOra-
tion when the war settlement was
being made. The government at
that time was hag-riddcn with the
olamor, to make Germany pay,
Not Surprised.
Mr.. Angel Is not IN the least sur
priscd that British manufacturers
now find themselves unable TO com
pete against undertaking by Ger
man exporters This competition"
no said. lis really the result of a
desperate effort 10 find money with
which to make rcparation payments
In doing 40 Germany is running the
| British manufacturer and incident
ally, In the long run, impoverishing
herself"
"Hcr factories" he went on. "are
bulglng with orders and many have
actually to refuse Work, but tho Ger
man people have no shirts on their
| backs. out of our poverty said
/ fta atttrar a stNA
making Christmas presents to the
| foreigner
$50 the German boom can't last p"
mo, II can't possibly last, and all
tho thoughtful people over there
| know that It can't When the time
comes for them to buy cotton, rub
ber, petroleum, iron and other raw
materials with the present mark
they will no longer be able to un-
dersell TO such nm extent,
During the next few months the
cost OF living In Germany ~ going
to soar. and the people will not be
| able 10 support themselves on their
! present earnings. Then there viii
be grave industrial disturbances,
and tho currency viii dopreciate
still further.
Even. therefore, II our manufac-
turers become comparatively free
AipAii Nffl filhH NbiiiItLlilpn We kflhll
be no better off. because Germany
Will be still less able 20 become
! again "A market for our goods"a
Are export credit schemes, the
| building of garden cities and more
generous ovordrafts at the banks
| likely to improve the position in this
| country"
Mr.. Angel waved them aside with
Il sweep OF his arm. 80 long" he
said, 'as you allow the old disrup-
| tive influence and prcjudices To re.
main and have regard Tor special in
terosts ana the protection OF what
are called key Industries. such
schemes are merely n waste of
money"
No Quick Remedy,
What remedies would you sug-
gost2"
There is no short cut back to
prosperity and employment There
Is no quick way OF adjusting the ~ 20
changes that are making trade Inn
possible, The process ls bourd to be
a gradual one, The only policy that
can possibly restore the position of
this country must be based on fun
damentals, | would suggest:
The wiping away of certain OF
the war debts
, Reduction of indemnity.
fhhVi'tlNii VI ithttittiNt itEiSlH
ton, such as the safcguarding OF In.
dustries act and the economic sane
! tons on the Rhine.
Cutting out OF all waste, such as
J wars, armies of occupation and sN-
= cessive armamcnts, and SO making
possible reduction of taxation
Probably the creation OF an In
p terneuonal loan FOR the purpose OF
facilitating crc,Ht
Relief OF the Rhine famine in
, the re-establishment OF trade with
Russia"
In conclusion. Mr. Angel insisted
I that the problems of peace must be
approached in the samo spirit as
. the problems of war.
80 long" he said "as you can't
mobilize patriotism for peace ~
well as for war your pense probscm,
! VIII remain unsolved. And IL YOU
} refuse to recognize the Fundamental
economic laws governing the post,
ton you viii throw away money or
schemes that will have only a mo
mentary effect"