The Washington herald., 1922-09-10
By SIR PHILIP GIBBS.

LONDON. Sept. 9--No serious
mind in Europe now undertakes
the serious gravity OF the increas-
ing economic collapse of Germany.
1t Is still regarded. with the great
est alarm by business men as well
as politicians in England. Even
in France and Belgium 1t is
acknowledged by many people I
have lately met that Germany must
be saved at all costs from going
so deep In the pit as Austria.
though opinions differ as to her
present conditions and as to the
cause of her financial distress.
The German people themselves
as / have found during a visit to
Berlin are honestly convinced that
an immense catastrophe lies ahead
of them unless they get immediate
and considerable relief. They be-
lieve the very foundations of So
cial life and security will crash II
France is allowed to carry out her
threats of infiicting new penalties
and seizing the sources of her in
dustrial energies.
Pessimism Prevails.
/ have found deep pessimism
among people Of humble life such
as laborers and hotel walters. rail-
waymen and shop assistants.
Among people of exalted ranks
there is undisguised fear of tragic
happenings in the coming winter.
In an interview ! had with two
of the most important officials OF
the Deutschbank this fear was
frankly expressed with an emotion
which broke down the usual re-
serve of such men.
They received me in one waiting
room of that vast palace of f.
nance which occupies great
block in Berlin and symbolizes by
its splendor and spaciousness the
building of modern Germany with
all it's wealth and power before
the war. Glancing out of the win
dow l saw the broad streets OF
Berlin. the high roofs and sculp.
tured figures of many palaces and
mansions.
All Germany Crumbling.
This city on which l gazed is
built of solid granite, more worthy
of a great civilization based or
worldwide trade and prodigious en-
ergy in science, labor and military
power. which seemed to lift its
pride above all challenge of rivalry
Yet j was conscious in that room
of the Deutschland that all thai
German civilization meant in trade
power. pride, material progres:
knowledge. art and industry wa:
slipping down a great pit like q
mighty ship torpedoed at the en-.
gineroom.
The mark had fallen to 1900 to
the dollar that day. There was a
panic on the exchange. Foreign
delegates from France and England
were sitting in a room a few blocks
away examining into a government
declaration of insolvency. And
these two officials of the Deutsch.
bank were confessing to me their
fears of irretrievable ruin and
great misery among their people
unless the allies granted an imme-
diate moratorium and a long loan.
They explained their fears candidly
Prices Are Soaring.
The frightfui downfall of the
mark would mean that Germany
could no longer buy foreign grain
which feeds the people to the
amount of at least 30 per cent OF
their needs. They could no longer
buy foreign coal. which now has
practically replaced the coal deliv-
cries made to France and to Bel
gium to the amount of 100000 tons
weekly from England. Prices are
soaring up far beyond the scale OF
wages paid and the workers are al
ready on short ratiOns. The trade
unions of Germany are already
pressing for a new scale of wages
beyond the possibility of payment
except by new flood of paper
money. which would send the mark
down again.
The German people" said one Of
these officials of the Deutschbank
have been orderly, Industrious and
patient For a time just after the
armlstlce many of them were in.
fected with spirit of revolution
and Bolshevism. 1t was natural
after all their sufferings In that
criminal war. But very quickly
their old instincts of order and dis
cipline reasserted themselves. they