The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-08-20
Editorial Review n
GERMANY'S FINANCIAL
CONDITION

Inc financial cOn0itlOn OF Ger +.
many Is one OF the most perplex-
ing things extant. That the az
fairs OF a considerable part of the
German population are 'disorgan-
lied and demoralized Is admitted
everywhere, but how far that con-
dition extends. and what 1t really
means to the nation and the world
are matters on which there is the
widest diversity Of opinion.
On the one hand we are told that
without prompt and effective aid
from without. the German nation
IL doomed and that the economic
demora lization which is SO appar-
ent in some quarters Is general,
end that chaos is just around the
corner.
On the other hand 1t Is asserted
t:lat general German generalization
IS a fiction maintained for its eff
feet on the world at large, and in
order to aid the nation in an effort
10 escape obligations which it can
meet without greater hardship
th,n other nations undergo, anil
which, therefor, it should meet.
We are told Of immense invest
wrrts o! German capitaI in Hol.
land in South America and else
where, of the transfer of German
wealth in various forms from Ger
many to other countries in order
that it may escape the taxation to
which it would be subjected in
Germany. 1t is asserted that the
flooding of the country with paper
marks and the consequent depre-
citation OF the mark have been de-
liborately engineered for the pur-
pose OF creating an appearance of
poverty. real enough as to some
elements OF the population. but ut
tgrly misleading 50, far as the ma
item ae q whole. Is conceE1eA, and
mat when iris emit r ao4F4Sinbiished (
masters If ,hiS concealed wealth
wi!l take their places, after t!lr
fashion of feudal, barons, as lords
OF the GARTH villa vast armies OF
retaincrs, ti5ineag'X service ana
d,ilol in Gbelie. nee
ii world is interested in tw,
nhaSes Of this subject. First, tho
existence Of an unsolved repara-
,ion3 problem 10 a menace to the
worlds peace. Second. an indus
t,,3us, productive and prosperous
Germany i, Aeded ~ an element
in the worlds prosperity.
In the matter Of reparatiors
T,ance has claims which she has
shown no disposition to forego o:
to negotiate. She refuses to sub
nit those claims to. the decision oil
snv outside tribunal mo matter
how constituted. There. for the
time being. we have an impase.
The other side of the case ought
to be susceptible to treatment.
Germany wants credit, and un-
doubtedly those who must advance
that credit, il it is to be advanced,
have their own ways of ascertain
ing just what are Germany's actual
But back OF bankers
end bond houses which make I'M
mediate advances Of money lie pub
lie sentiment and the public atti-
tude which have an important. and
often decisive influence on trade
and finance.
Secretary Hughes and others
have suggested a commission OF
international experts to ascertain
what Germans condition ISL That
suggestion, offered as step to-
ward the solution of the repara-
lions problem. has .'been rejected.
Why not, then, have such COM
created to deal with the
question of Germany's industrial
and commercial status, independent
of reparations? That the investi-
CATION would be a bearing on rem
arations is not to be doubted. But
in the meantime 1t would serve to
remove uncertainties and clear up
doubts and would leave the world !!
with exact Information which 1t
needs in order to adjust its atti- !
tude toward Germany in satisfac'
tory manner.-Grand Forks Herald.