The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-05-31

&C. w. Barron in the Wall Street
Journal)
If you want the financial position
of Germany don't go to Berlin OF
Frankfort Visit the countries round
about her and then sit down with
friends in the international banking
field, the German bankers
who are travelling in and out of Ger
many, the international exchange
dealers who watch every minute of
the business day the currents of the
goods and gold, and then you may
learn some thing of a rather surpris-
ing nature.
You may learn that Germany has
more gold and credits outside her own
country than the whole of Germany is
selling for today
A Liquidated Germany.
Let me first phrase the situation in
the language of Lord Ridden who.
discussing other matters, wrote me as
follows:
Il am bound to say that if were
Frenchman, 1 should have been in IA
vor of the policy adopted. Give the
Germans two years and they will pay
nothing. Where the allies made the
fatal blunder was to allow the Ger
mans to sell marks abroad. They
should have insisted on the proceeds
being placed to the credit of repara-
tions account allowing the Germans
a certain percentage for the import of
raw materials. AS it is, the Germans
have liquidated Germany and a pref
ty thin liquid it isl This they have
exchanged for foreign currencies
which they hold in the countries of
origin, so that we have the curious
anomaly-the Germans holding more
tangible interests in allied countries
than those countries hold in Ger
many"
The Rich Getting Richer.
A German American banker I have |
known for many years declared to me ,
on the continent:
Il have heard from all my friends |
in Germany They have all liquidat-
ed into foreign currencies and are do
ing very well. Indeed, throughout
Germany the rich are getting richer
and the poor poorer All the bankers
have their money outside the coun-
try. You can still buy everything in
Germany except milk and eggs. which
ire hard to get. Everything else is in
Similar reports come from both
Berlin and the Ruhr, where all high
lass shops are open and appear to be
Icing a thriving business.
This is, of course, due to two facts,
hat the rich have the money and that !
received in the line Of
marks must be spent quickly for what {
t will bring
Can Germany Demand Our Gold? /
An American man of finance, one of t
reat wealth and more ocean cross c
lgs than any other banker, declared 4
0 me: 1.-THE president of the -- o
iank of Berlin, which you know is b
lmost as big as the Deutsche Bank, d
aid to me: s
"Our entire capital surplus is in h
outh America. All we have here IS r.
lr building. They can not take that II
ON us. The rest is mere debit to c.
spositors and credit to borrowers all
paper marks"
And then this American banker e.
'ntinued: IT am astonished that peo- al
e in the United States do not see it
cir danger from Germany. At least W
lie billion dollars. or one-quarter OF 81
e gold in the United States, is sub pl
ct to the call of Germany And 90
,rmany has other billions in other Al
untries SHINES has bought up the dr
iustries Of Germany and central tn
lrope at small cost and now wants ch
election. I don't think he feels very Sc
lch aggrieved over the French occu- oh
ton any more than he did over the
I of the mark. They are both In go
rance and profits for him Some no
y he will get the right settlement, ca