New-York tribune., 1922-12-30
Young BostoeH
mter0ieWS
Baron de Pepper

BECAUSE he IL an Austrian banker,
Ne knows fhe economic situation Of tAe
central EHropsan statss ei frst
hand.
he Uritss for economic magazines,
Jeriisa l. his ,oife.
SO much has bsrn said upon The fndn-
cicl aud Industrial conditions Of the ccn.
trai European sfafos, bB psen icho haze
made n hurried tour oI Europe. hdf
fouHg BosueH wanfod 10 hear the true
state Of ofairs from mda Wh0 KNOWS
AZ frat hand. he found BARON POP
PER, icko Is head Of a banking syHdi-
cate. ,0iiling 10 talk OF the s'ibjeoi.
BARON POPPER 80 Most people,
speaking Of the central European eoun-
tries, speak only Of the financial eondi-
tions, without mentioning the more basic
conditions which underlie them. IL Is
like a doctor treating a fever patient.
He must frst attack the illness which
causes the fever. The most important
Of these conditions which cause tho
financial difficulties Is the lack OF conf
deneo each Of those countries has IN its
government and In tho adjoining gov
ornments. The reason they don't have
confidence "a because private property
has been too much attached since the
war. The victorious Countries don't
speak Of America-have simply eonhs-
Gated all the property belonging 10 the
citizens Of their enemies, and by that
they have created an insecure feeling
about foreign investments. II Is felt
that II any further Misunderstanding
should arise. property and business
would be taken. There should be, In
ease OF such n misunderstanding or or
war, an agreement as 10 the handling OF
/ private property. Thousands Of dollars
have been lost in Europe by people who
had nothing 70 DO with the war, through
/ foreign investments.
Young Boswell-Hasnt the division OF
that region into such small states
I brought about economic chaos
BARON P0PPER-The'e economic con-
dition Of the central states is naturally
very complicated because all OF them are
absolutely interdcpendent. These eoun-
| tries were all united before the war in
an Industrial and economic union, which
was not taken into consideration in the
peace treaty, which was made By poll
ticians, without asking the advice OF
economic experts on the conditions IN
eastern Europe. III the peace had been
made in such way that the small ma
tions would have got their political au-
thority and lf-governmcnt without
losing their connection with the other
parts Of this huge country Of fifty-six
millions, the peace treaty would never
have caused the present state Of starya-
tion and the breakdown Of all business
life.
Ne rose aud walked about the room,
a toll. impressive man, t0ho talked Iorei-
biy about question which personally
, concerned him.
BARON POPPER For instance,
Czeeho-Slovakia has many big indus
tries, which were meant 90 supply tho
whole monarchy. especially the beet
sugar industry. Now, Czecho-Slovakia
puts Up her boundaries. and the new
government, which Is absolutely Chau-
/ whistle, doesn't want 90 supply Aus
/ tria and Hungary, so Austria Is COM
| PEELED TO buy sugar from Dutch India,
| and Czecho-Slovakia cannot immedi-
ately find new markets for her prod
| ucts. SO to-day her industries are go
| ing through a terrible crisis, because
she has Isolated herself. or course,
the peoples Of those countries would
. agree 10 n free economic union, but
! governments In power arc che gr9at
/ obstacle. The same Is true OF Jugo-
Slavia and Rumania and Poland.
IL would be a very great thing TO
unite these small countries economi-
eally, and create In that way a largo
self-suiiieient territory IN which trade
could huctuate freely. Business would
improve Immediately. II must not be
/ forgotten that the administrations Of
these many small countries require
many hundreds OF thousands OF ON
ciAls' who were taken away from produe-
tive occupations, and millions OF SOL
diers, who arc idle, with nothing TO 90
but think up new wars. But the com.
| mon people are tired Of war. They
didn't want war In the beginning. They