The New York herald., 1921-06-19
GIBBS SAYS CREDITS WILL
ENABLE GERMANS TO PAY

I Germany Surely it was also the hope
of Europe, whose common interests
would be served.
Views of Business Men Given.
This argument Scheidemann and
Helphand represent as that of the
| Majority Socialists, and, indeed. j
| think. most business men. 1t is rea-
sonable and logical. If we want Ger
many to pay she can do so only in
that way and by those means.
But / still wonder what will hap
pen II she multiplies her exports five
times or nearly that. Such trade
would upset all other countries. l i'm
agine. and we should cry out to pre-
serve US from such gifts.
I reckon from all the figures l OBJ
tained from many sources that the
German people are about two-thirds
back to normal compared with pre-
war conditions. That, after intense
exhaustion and utter defeat, Is very
wonderful 1t is not source Of fan
tastic wealth as suggested by corre-
spondents who make out that German
industry is already producing vast for
tunes. Dividends of 80. 40 and 90 per
cent sound magnificent, but IN paper
marks which require fifteen to make
one gold mark, they come down rapid
ly in actual meaning.
Yet the big trusts like those OF
SHINES, Krupps. Thyssen and score
of others, which represent the power
of Germany to-day, have shown an
astonishing genius in adapting them
selves to new conditions and are pros
pering BY enormous activities.
Germsny,s Growth in Trade.
Germany's import of cotton Is now
approaching half the amount she I'M
ported before the war. Last March she
headed the list of cotton exports from
the United States. She has multiplied
her flax production FIVE times.
German trade is increasing With
nearly all countries. In February,
conpared with that month last year,
South American trade with the whole
of Europe decreased nearly oo per
cent. but with Germany 1t increased
20 per cent.
Half the amount of the present tom
mage. though largely under foreign
flags. is now coming to the port OF
Hamburg. All that spells recovery,
and the great chance for German COM
petition may be shown by COM
parison of working wages in Germany
and England.
In Germany expert mechanics are
paid seven pence and half penny an
hour. or fifteen cents: in England the
wage is two shilings an hour at least.
or forty-eight cents. What are we
going to do about that!
One thing is now being done in
England. Really frightened at last by
financial conditions, the British Gov
ernment has come out for ruthless
economies and for the complete aban-
donrnent of trade subsidies. WORKING
men will be forced into the labor
market in the old dreadful warfare
between supply and demand and all
employers are determined to beat down
wages in the most drastic way.
The trouble between the coal diggers
and the coal owners is at last being
settled by compromise after a ruin
Gus conflict that discredited both sides.
and the cotton and engineering trades
are preparing similar action. leaving
the same sense of bitterness In the
minds Of the working men and women,
who see themselves forced down to a
lower standard of life by irresistible
powers.
DeplornbIe British Conditions.
A rapid decrease in the cost of living
would soften these blows. but the
heavy taxation and lost trade tend to
keep prices high. At the moment as
far as 1 can see and know the British
Government has no clear principles or
policy with which to lead the nation.
There are so many conflicting in
terests in the Coalition that it is diff
cult for Premier Lloyd George, apart
from the vagaries of his own mind,
to steer a straight course. His enemies
gather strength. Plots are on foot TO
dethrone him. Neither his foreign
policy nor his home policy, whatever
they may be, and nobody knows from
one week to another, seems to bring
peace abroad or prosperity at home.
Apart altogether from politics, the
English people. as far as know them.
are getting angry. During the last
week or two there has been a sudden
awakening to new perils abroad-in
Asia Minor. where the Turks are gath
ering strength, and in Upper Silesia.
where there Is no settlement of justice
and realization that England must
at all costs put her own house in Or
der and balance her books.
And there is always Ireland as
disgrace and tragedy. When the Eng
lish people get angry. which isn't Of
ten. things begin to happen. What will
happen. think, is a storm of in
iignation against politicians who are
playing poker with the destiny OF their
own country.
AMUNDSEN IN NONE