New-York tribune., 1922-06-19
Sees GERMANY.
Without Aid.
Like Austria
Defiaiion Process Would
Mean Industrial Ruin Of
Nation Now, Says Berlin
Banker and Economist
Sterilization Impossible
Believes Solution of Indem-
nifty Problem Possible on
n satisfactory Basis
49, -. = u. 80,

Copyright 1879. Sew YORK Tribune in-.
BERLIN. June IS Germany today
IS bankrupt concern, and the stabili-
zat.on of the mark az this time is well
nigh impossible. The doiation process
n introduced now. will mean Gcrmnny's
industrial ruin. Now rapor money 20
keep the country going IS unavoidable.
ari unless the Allies come 20 Gcr-
u,sry's aid she will very soon share
Au,tria's economic and financial fate.
These were some Of the statements
made 90 The Tr.bune's correspondent
by Franz Urbic. director general Of
me Disconto Gesclischaft. who is a
member cf the national economic eoun-
Gil ana was one o. the leading German
experts ~ the Genoa conference.
II have spoken recently with the
French Finance Minister. who visited
ne % my Office" declared Herr UEbig
He told ne that France would be
ruined II Germany does not pay the
reparat.ons ! answered that IL France
demands from Germany what Germany
cannot pay, both France and Germany
will be ruined.
Il believe, however. that II will be
possible Tor both countries 20 reach an
understanding on the reparations prob
lem which will be satisfactory 20 both
and will provide a basis foT the eco
nom.c rehabilitation o. Europe
Situation Most Serious"
Herr Urbig regards the present stu
alton IN Germany as most serious"
u y ~ 80 q ~ lnr Na - p
rnc's correspondent as 20 whether the
German government would actually be
able 10 collect the 10000, 900 900 marks
by the end Of the year through the in
ternal compulsory loan. es demanded
BY the keparation Commission. he
said:
The government intends faithfully
. carr out this demand, but doubt
whether this drain on the nations re.
sources would not imply the ruin Of
our commerce and industry. A. any
rate. - will certainly make inevitable
the issue o. new masses OF paper
money
Referring 70 the governments efforts
20 cover the national railway cehcit
Of 1900. 100000 marks and that of
the postal and telegraph system OF
$500 900 200 marks on which points the
Rcparatioa Commission 81 still await
ing Gormany's reply. Urbig declared
These deficits are coverable only
by a decrease in production costs. but
with this point. am sorry 20 say our
workers do not agree. The effort 10
enforce this solution on the country
would be certain % provoke strikes.
revolts. ard perhaps new revolution.
do not believe, however. that the
Allies will persist in their present pol
lev. which. II unal'ercd, - sure 20
bring catastrophe 20 Germany ootas-
,ropho which would be felt throughout
;he world
Not Surprised by Paris Failure
Herr Heinemsrn. first director Of the
Dcutschc Bank. told The Tribunes
corresnondent that Germany vas not
surrrised ~ the failure o. the Paris
loan negotiations.
France makes the German loan in
rossib!e ny refusing 20 assent 20 re-
vision of the repaTations problem
ea,d Herr Heiremarn. The idea o. a
rcparations revision is now we'll under
stood in England, italy and America
az necessary for the interests Of the