New-York tribune., 1922-03-24
Hammered 10 Lowest
Level Since Armistice:
Cry of Economic Ruin
Is Raised i'm Germany
Full Acceptance of
Demands Predicted
urther Negotiations VIII
BE Sought in an Effort
TO Obtain Notifications
By Joseph Shaplen
HD Wireless 10 The TriEr,e

BERLIN. March 23.-This was a
black day for the German mark. After
the new reparation demands of the
Allied Reparation Commission had been
fully digcsted it dropped to the lowest
ieVei since the armisticc- marks to
dollar in Berlin, or $O.OO295 per mark
IN New York The collapse caused
teVersh activity in financial circles.
IN the opinion of all the newspapers
ana OF the leaders of virtually all the
political parties the commissions dc
mahd was a death blow" to German
economic life. How much of this cry
is genuine and how much feigned for
diplomatic purposes remains to be seen,
but, Judging from the declarations Of
such eXponents of Chancellor Wirth's
futillment policy as Die Freihcit''
and "Norwacrts,' the German govern
ment will not reject the conditions laid
down by the commission as the price
OF moratorium on war bill paw
ments.
Seek Further Negotiations
The only ray of hope seen here is
have the character of an ultimatum
but leaves the door open to negotia-
ton. WaIther Rathenau, former Min
'stcr of Reconstruction, acting on in
Structlons from the Cabinet, will take
the opportunity imme ediately to dis
cuss the situation with the Repara-
tions Commission without waiting for
Chancellor Wirth's appearance in the
Reichstag Saturday or next Monday to
announce the commissions action.
Another feature of the commission's 3
note from which the government and
the press seek to get some consolation
is the doubt surrounding the demand
that Germany impose $4,000 ,000,0 900
marks in new taxes. 1t is not known
whether this means 10000, 100000 in
addition to new taxes provided in this
years budget or whether it includes
these levies. The hope is, of course
that levies already made will be
credited,
The governments first step will be
TO direct an inquiry to the Reparation
Commi to clarity this point.
Should it appear that Germany must
raise 60,000,00 900 marks in addition
to the present program, that would in
volve total levy of nearly 10000
000,0 marks in 1922, as the present
program calls for 10000, 900, 900 by the
proposed compulsory loan and 48 ,O00,-
000,000 by ordinary methods. On all
sides in the Reichstag to-day mem
bers insisted that the collection of
such sum would be impossible.
Cabinet Asks More Information
The Cabinet was in session for a
short time and authorized the dispatch
to Paris of a note asking information
on several obscure points III the Rep
aration Commission note. Rathenau
was present at the meeting, as was
also Herr Fischer, Germany's repara-
tion expert in Paris.
The "Berliner Tageblatt" summar-
ICES the general opinion when it says:
"There is nothing left for Germany
to do but inform the Allies that she
the Reparation Commission, That road
would only lead to Germany's economic
extinction and would bring the whole
world to disorder and chaos"
"Germania," Centrist pSper and
spokesman for the Chancellor, says:
ut is necessary to subject the Allied
note to thorough analysis. One
thing can be aid now, however-the
demand that we raise another 60,000,-
900 900 marks in taxes within g period
Of six or eight weeks is simply i'm
possible. What IS economically I'M
possible must be rejected"
Die. Zeit" says: Europe is as far
as ever from return to sanity. Poin-
care has triumphed. The Genoa confer
ence was born under an unlucky star
"Vorwaerts" says emphatically that
! the notes conditions are impossible OF
| execution, but hopes that the note is
not the final word from the Allies on
! the reparations question. SHOULD it
| turn out to be the final word, then only
| idiots would have cause for rejoicing,
says this newspaper.
"Die Freiheit" says: THE conditions
| imposed as the price of moratorium
create an extraordinarily difficult stu
alton. Despite the fact that the pay
ments demanded are smaller, they are
still so high as to make it impossible
| for us to balance our budget. And, be-
sides, this comes with threats Of force
and penalties. This makes the condl-
tions worse, for it indicates that Poin-
cares policy of force has once more
triumphed over England's policy OF
economic reason"
The attitude of the conservatives is
reflected in "Die Deutsche Tageszeit-
ung," which under the title "On the
eve of new revolution" says:
"Wirths policy of fulfllment lies ir
shame. Everything for which the poll
ticians behind this policy hoped has
gone -glimmering. Germany must
utter an emphatic No to this --latest
demand from her enemies"