Every evening, Wilmington daily commercial., 1922-07-10
GERMAN COLLAPSE
IMMINENT, BRITISH
GRAVELY ALARMED
Old World Statesmen See No
Remedy at Hand for I'M
pending Crash.
ASK u. S. WAY TO AVERT IT
cahlcrram to baltimore sun.

Cahicgram to baltimore sun.
London, July 9.--The gravity of the
situation caused by the sudden and
terrible downward plunge of the Ger
man mark Is fully graspcd here. To-
day the british press rings with APP
prehcnsion. The crash is recognized
~ close at hand and no one pretends
to see how il can now he STAYED of.
Political and financial England feels
Al coming. and Is steadying itself for
the shock. IA the result W the sink
INK of the German currency almost Ia
the Valuelcss point, two things stand
out clearly:
First--Cicrmany has come 10 the end
OF her rope as far IA reparation goes.
She viii be after this week at stand
still IN that matter at last.
Sevond--Uer power to purchase raw
materials from foreign Countries-so
tremendously diminished before-has
now completely vanished.
National Bankruptcy Mooted.
These two things meau-if they
mean neutrality-suspicious. and indus
trial bankruptcy. As To- exactly what
national bankruptcy is and just what
Consequences would follow II, no one
appears able 10 speak with condolences
There is "a certain group ot pcssi-
mistlc persons here who visualize II
rs complete e lapse Of "A kind that
will wipe out all scmbllncc &c GOV
crumcnt and sink the state iu'o social
anarchy and chaos. This school of
thinkers believe the shock viii u" such
that civilization. as a whole. viii shake
On its foundations and the death fnel
Of "a sane ana ordered world I've sound
cd. Their conviction is .hat once Ger
many goes over the brink she will pull
the rest uf u~ into the black pit of
ruin with her.
This conception IS not shared by
statesmen here accustomed ~ take the
long view. Their contention * that
the minds ohsessed nv It are uufoCuscd
through fright. There - not, Il Is
commended any such thing as national
bankruptcy in the sense that bank
ruptcy ~ understood ia tho business
world. \ nation cannot become lank-
rupt IN the way an individual can
Collapse ~ It's medium ~ exchange
these Observers say. does not affect 4
nations fundamental wca'th--its coal
SIS AGRICULTURAL and mineral les urCVs
o. productive putcut!alt.vs and man
power.
No Time For Panic.
when bankruptcy comes to Ger
many. according to this View. these
tnuvs viii a!l remain Her crcdjor
Will ot course. iNse their money. =
gaping hole IN the worlds unauc.t
fabric will he torn and Earring rad
justments viii hc forced. Unemp,o,
ment and misery within the nation I'm
eVltahlN viii cnsue. IL is conceded. hu
that civilization will collapse and hu
man society revert - hsrbar.sm Is al
extreme and alarmist idea.
u is significant that the men wh'
take this Calmcr view ~ things 10 no
Cor moment attempt 20 minimize
the seriousness 81 the situation an,
its menacing possibilities What the,
cay Is that this is no time 10 heCom
panicky. This is the time 10 sit stead.
in the boat.
In both financial snd political circle
responsibility for the crisis Amos
unanimously Is laid on Frances door
step. The primary cause 81 The terrih
downfall OF the mark j. the faNur
OF the international loan protect. 70
this failure France. IL is maintained
tons knocked the project in tho hcat
- discuss a scaling down OF repara
tionh knocked the project in the heat
Every other nation-cven Belgium
saw the necessity. l. was the one wa
out. France blocked IL.
She has since seemed sorry. and Ia
in,imated that she would ike 10 re
open the discussion. but no one think
this would be az any use until tn
whole attitude changes.
Door OF Hope Closed To Germany.
when the Morgan committee gu
Paris Germany began 20 sink by IN
head. The Rathenau assassination tire
mendously accelerated the fan OF III
marl7 hut the real reason was IN
elamming Of the door % hope In Ger