The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1921-05-23
THE BRIGHTER OUTLOOK.

THE BRIGHTER OUTLOOK.
In all discussions regarding the re-
covery of trade from its present dis
tressed condition, emphasis has been
laid upon the fundamental Importance
of the GermaQ reparation settlement
by those authorities in government or
business circles who have made the
deepest study of the situation or have
been possessed of the true interna-
tional perspective. 1t has been made
clear from these sources that no sta
bility of business either domestic or
foreign for this or any other country
could be expected until the position
of Germany as a funcrioning, respon-
sible nation had been determined in
agreement with the allies. The repara-
tons question has been described by
some as one of the two or three major
obstacles that have been producing
and continuing the present log-jam of
business.
But said Secretary Hoover recently:
I'VE have much upon which to con-
graduate ourselves" Our difficulties
he pointed out are infinitely less than
those of Europe; we have weathered
the danger point of a great crisis; our
financial system has proved its
strength and for the first time we
have passed safely thru a commodity
crisis without monetary panic Our
people have abundant food and album
dant clothing. We are at least warm
ly housed, even tho crowded. We
possess in the high intelligence, high
courage, and high ideals for our peo-
pie ample reserves of economic, social.
and political strength. We have had
remarkably small ratio of failures.
1t has been regarded as vitality i'm
portant to the return of a foundation
of world security that Germany not
only be made to accept the reparations
terms but also that she be compelled
to pay up to the limit of her pro-
ductive resources, properly applied
with due allowance for her future de-
velopment. AS the Iron Trade Review
Expresses 1t, 1t has been essential that
Germany be made an asset rather than
a liability to the world in its present
CONFUSION of readjustment and recon-
accomplished by the settlement.
Under its terms Germany is obli-
gated to an annual payment of ap-
proximately s500,O00,OOO in addition
to a variable factor of 25 per cent of
the value of her exports. The further
payments to make up the grand total
of over $33,O0o,oOO,OO0 are vaguely
defined and it is a question how far
they are to be enforced. These terms
necessarily. are not crushing for a ma
ton of Germany's size with her thrift
and proficiency.
A solvent Germany dfscharging her
monetary obligations to the world
means an important step toward the
re-establishment of international credit
and of normal exchanges, her own in
cluded. 1t means that the recovery of
Europe from her war burden of waste
and destruction shall be speeded and
hher payment of the huge debt to the
United States shall be rendered less
burdensome. 1t means the gradual
lifting of the present premium from
American goods in the worlds mar
kets and q consequent greater free
dom of trade both import and export.
1t means a world more earnestly at
work to produce and assured of a
more equitable recompense for its
labors.
Germany already is well on the way
toward meeting her obligations. The
Krupps are working many thousands
more men than they were in 1914,
and are selling the product of their
factories. in all parts of the world, fl
competition with the manufacturers
of other nations. From making guns,
they have turned to making things
that the whole world needs and must
have. There seems to be no cause for
even Germany's best friends to worry.
The reduction in the hours of labor