Perth Amboy evening news., 1923-02-17

eminent at Washington appreciate
fully the gravity of the situation and
find something akin to excitement in
the ace. There would almost be an
element of sport in it We're stakes
not so tremendous and the conse-
quences Of loss so alarming.
Nearly every student of the situa-
ton is convinced that Germany can
not be saved. Sooner or later the big
crash must come. German money
will be absolutely worthless. National
indebtedness, in all probability, will
be entirely repudiated. Business
credits will so by the board. There
will be not a shred of organized bust
ness left in Germany, once the apos-
tie of business system.
Now that the certainty Of this re-
suit is recognized, it is felt to be a
good thing. The German economic
situation might be likened to the
| progress OF a fever in the human
body. 1t is known that the fever
! must run its course, tearing down
the human structure. Also, it is
known that there g. point
known to medical science as the
crisis where the fever burns at it's
height. If that is survived, the COR
ner is turned and the body begins
slowly to rebuild.
Crisis Near at Hand
1t now is felt that this process
must be gone through with in Ger
many. The crisis will come when
German business no longer can con-
tinue on a declining mark and when
credits are completely exhausted.
nth nNa 011YEN - Ana - - fn I CT yAntr1f
whole new currency system must be
devised and new business must be
started by the German people. The
fevered, shrunken mark and the ex-
listing credit system will be burned
out entirely. A new, small beginning
must be made and a slow building
process follow. Properly guided, this
should be a healthy growth resulting
In a newer and a better Germany.
1t is expected that this crisis will
result in a removal of of the
principal causes of the d~isease-the
~reparations. All nations but France
now are agreed that this is the cause
of the German disease. A general
collapse Is expected to bring a re-
writing Of the German reparations.
reducing the amount to one which
the German people can pay.
American government officials are
divided in their opinions concerning
who will win the race. Some OF them
fear that the German collapse must
come this spring. If it does, Europe
could not survive the shock and
bankruptcy would sweep all CONT
mental European nations and, quite
possibly, Great Britain. Others are
confident that the disaster can be
STAYED off until a year from this
spring. 1t depends on whether or
not the Germans have food enough
to carry them through this spring
and early summer until the 1923
harvest comes in. If they have, the
| collapse, in all probability, will be
postponed until the spring of 1924,
by which time, it is hoped, continent
tai Europe will be strong enough to
localize the German crash.
The United States has good reason
TO be concerned in this race. \ gem
eral European bankruptcy would
postpone to an indefinite date any
possibility of payment of the Allied
, debt to the United States or even of
interest thereon. Also, economic
chaos in Europe effectually would
destroy such market as now exists
for exports of American goods to
Europe. This would mean reduced
prosperity in this country.
1t is a race which the whole world
can watch and in which the whole
world has a vital interest.