The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-06-03


thing is done very soon every
British trawler will have to be laid
up.
What do you think of the future
of the mark?"
reparations now demanded obtain.
Germany is like bankrupt with just
enough blood to keep life in his body,
and it is from that little that the
nations are trying to squeeze the
great sums demanded"
In the stock Exchange.
1t was with the director that I
went over tho building. 1t is a huge
stone structure on the bank of the
Spree, and to it are being added ad-
ditions which will cost about four
million dollars. The men were work
ing on the new building as we passed
through. They were plasterers,
sculptors and cabinetmake l asked
some of them as to their wages. The
plasterers. who do as good work as
those who get $40 a day in Chicago,
are laboring here at three cents an
hour, and the other workmen re-
ceive just the same. The women
cleaning the halls told me they get
two cents an hour. But the wages
are paid in marks and the sums go
up and down with the rise and fall
of exchange.
Entering the galleries, / found the
several acres below me filled with
moving quilt of humanity. The quilt
was composed of human heads, more
than half of them bald, resting on
short and often thick necks above
black and gray business clad should
erS. scattered over the floor were
square pens filled with clerks and
about them were scores of men. push
ing their way, recording their orders
to buy and to sell. There were crowds
here and there, frantically waving
their hands as in the exchange in
New York, and the brokers formed
whirlpools in which they showed and
pushed in the mad craze of the mark
At times 1t made me think of a
storm at sea, the winds of which
were this inflated currency, whose
future gold value is about as much
per cubic yard as the infinitesimal
gold grains In the ocean. During my
stay the hour for closing approached
All orders have to go in within a
fixed time or they must wait till next
day and then depend upon the rise
or fall of the mark. This brings
minutes while the bell rings and mil
lions change hands as the loss of time
may mean tho loss of fortune The
hour for closing is announced by the
great clocks of the chamber The
ding donging of their bells fills the
rooms and this lasts for ten minutes
At this time the brokers do not stol
to watch the clocks All strive to the
utmost to get in their orders, making
one think of a fire in a theatre where
tho crowd has rushed to the doors.
The Rothschild of Germany.
Before I went to the Exchange
had a chat with Herr Franz Won Men,
delssohn. the president Of tho Berlir
Chamber of Commerce. one of tn,
most conservative of the great Ger.
man bankers. The Mendelssohn.
have been noted financiers for man,
generations. They rank with tn,
do with placing large loans and
transactions involving hundreds Of
millions of dollars. Their story is al
interesting one. Moses Won Mendels
sohn. the founder of the family, ar.
rived in Berlin in 1921, with q bundle
on his back. He was a Jew, tn,
son of synagogue clerk in the little
German town of Dessau. and it is
said that he came into Berlin on foot
At that time Jews were not allow ed
to enter German cities except under
certain conditions. and Moses had to
ally himself to silk merchant In
order to stay. He soon owned tn,
business, made money hand over fist
and died leaving a great fortune to
his sons, Joseph and Abraham. They
founded the banking house of Men
delssohn's about one hundred year.
ago, and the old building in which
they started still stands next their
bank, having been kept there as 6
matter of sentiment.
The Mendelssohns have always had
a large influence hero, not only In
money matters but in almost every
thing relating to the education, mu-
sic and art. Moses was a friend OF
Leasing and Herder. noted as friends
Of Goethe. He wrote a book on The
Life After Death" Abraham and Jo-
seph were closely associated with the
son was Felix Mendelssohn-B arthol-
dy, whose music is played all over the
world. Franz Won Mendelssohn Il
also a musician and he gives many
charity concerts at which he some
times plays the piano.
Talk with Franz won Mendelssohn
My interview with Herr Won Men
delssohn was a rambling chat as tt
the Germany Of today. 1 asked hin
as to sterilization of the mark anC
he replied:
THAT is almost impossible unit
this reparations question is settled
II
billion gold marks from the outside
the reichsbank might add as mucl
more from its gold reserve and this
would result in sterilization. The
& old from the outside need not neces-
sarily be a loan. 1t might be onl.
a credit"
How about the statements which
are frequently made that the German
captains of industry prefer a low
mark, in that it gives them a cheap
err production cost. enabling them tc
sell their goods in foreign markets
lower than they can be produced il
other countries?'
Herr Won Mendelssohn. THE German
manufacturers prefer a high mark
and it Is only by stabilized mari
that they can make contracts and dc
business"
us Germany in any danger of Dol
shevism?"
mot il we can improve our eco
nomic conditions, but If we do no
have help from the outside fear W,
shall soon be in the same situation
as Austria and II the situation grow:
worse there Is the possible danger o
bolshevism."
what are the chances OF a uniol
between Germany and Russia?"
asked.
"All of the nations are doing theil
best to get what trade they can with
the Russians" replied Herr Won Men
delssohn, but the Russians are toe
clever to give a monopoly to any one
nation. 1 think things are growing
better in Russia but they move slow
ly. The country may possibly re
cover under the present regime, but
1t IL does the progress viii be gradua
and it will take a long time"
What do you think the United
States should do in the present
situation in Europe?'
az believe that this world Is toe
closely connected financially for &
great entity like the United State.
to act Independently of the othel
nations. You cannot afford to leave
europe alone. Your country shoult
ali int a n [.