The Dominion. FRIDAY, MARCH 17, 1916. SIGNS AND PORTENTS

Dominion, Volume 9, Issue 2722, 17 March 1916, Page 4

The Dominion. FRIDAY, MARCH 17, 1916. SIGNS AND PORTENTS

Foe some days past tin cable news from abroad has contained many reports ancl rumours concerning internal conditions in enemy countries. These have originated in the main from neutral observers, and in the majority of eases must be heavily disIf we were to credit half the stories in circulation we might assume that Turkey was on the eve of a collapse by reason of internal dissension and a growing conviction that she had been led to ruin and disaster bv the Young Turks. Bulgaria, it has been stated, is rapidly coming round to the view that Germany has tempted her to embark on an enterprise that is going awry; and her rulers are awaiting the turn of events at Verdun ready to betray their present Allies should safety seem to lie in _ that ■ direction. , Austria is simmering with the discontent of a terror-ridden people, and in Germany itself the people in the towns are crying for food and rioting when they cannot get it, only to be mowed down by the machine-guns of the Kaiser's soldiers. And overhanging and darkening the whole globmy picture is the black and colossal 'failure of the great offensive at Verdun. It is for our enemies a dark and depressing picture that tho cable news of late lias been painting. While it would be foolish to take these rumours and reports literally, or to read into them any suggestion that our enemies have been so seriously crippled that they cannot much longer continue the struggle, there yet remains a volume of evidence whiri affords substantial ground for tho belief that the strain imposed on the Central Powers and their Allies is being felt with increasing force, and is undermining the confidence and morale of their civil population. That the governing authorities in Germany, Austria, Turkey, ,ind Bulgaria realise this may be taken for granted, and it may lead them into aespcrate ventures, to the jeopardising of their plans, i and in the case of Turkey and Bulgaria may even lead to the betrayal of their Allies or to internal disorders amounting to a revolution

Amongst the signs and portents to which it is possible to attach value is the decline of Germany's credit ,in neutral countries, and more particularly in America. The value of the German mark in America,. we aro tolcl to-day, is 24| per cent, below normal; tliat is to s'ay> J:he purchasing power of the mark in America is nearly one-quarter less than it is in ordinary times. _ The decline in German] credit continues despite efforts by German bankers in Germany and in America to bolster it up, and the New York Herald regards this as an evidence of the world's perception of Germany's impending financial and military collapse. In Copenhagen the German mark is 30 per cent. Delow its normal value.' This is very significant, for while Germany can bo doing little trade with America now, she is certainly doing a good deal with Denmark, ?nd must feci' the decline there_ seriously. Apart from the financial embarrassment, however, tho moral effect must' also be taken into accouut. It is noteworthy that several of the smaller nations which stood in marked fear of the Central Powers have of late adopted a new note. Portugal we know has taken the • extreme step which ranks her as a belligerent on the side of the Entente Powers. Rumania shows a bolder front; little is heard now of Greece's hostility to the Entente; Holland is more outspoken towards Germany; and'even little Switzerland has found courage to resent being made a centre of German espionage and mischief-making. In seeking a spectacular success at Verdun in the hope of hardening up her Allies and dissipating the internal troubles which threaten to hamper her efforts, Germany has focussecl tho eyes of the whole world on her colossal failure. This does not mean that she'has reached the encl of her resources. Far from it. But' it does mean that she has assisted to lower still further her dwindling prestige, and has accentuated the* growing belief among neutrals,' as well as amongst her Allies, that- her fortunes are on the down grade. This is a serious matter for the Central Powers. _ TheV have been relying to a considerable extent on the fears they have been able to inspire amongst their smaller neutral neighbours for. assistance in» the way of supplies, and also for a tolerant acquiescence in the presence of German spies and agents, who find neutral countries in Europe a valuable field for their activities. A Germany struggling under the shadow of impending defeat cannot hope to terrorise even small neutral countries as she has been doing. The end may still be distant, but the signs of victory for the Entente Powers grow increasingly clear.