Hokitika Guardian & Evening Star THURSDAY, MARCH 18th, 1920. ECONOMIC CONDITIONS.

Hokitika Guardian, 18 March 1920, Page 2

Hokitika Guardian & Evening Star THURSDAY, MARCH 18th, 1920. ECONOMIC CONDITIONS.

The Supreme Council’s manifesto ou the economic conditions of the world, the text of which was supplied recently through the Imperial News Service, indicates that however burdening the peace conditions on the late enemy countries, with regard to financial reparation, might bo, circumstances os they present themselves to-day are going to govern the ultimate position. The war had such a weakening and wasteful effect on the financial resources of Germany, and its duped AJljps, that they are virtually bankrupt nations. To exact the demands under the Peace Treaty is to endeavour to get blood out of a stone, and on that account the treaty clauses have to be revised or otherwise modified in accordance' with infernal economic conditions. The Supreme Council, jt. may be assumed, will have facilities for gleauing the true internal financial position 'if flic countries, so heavily the debtors of the victorious Allies. Financial experts of independent minds, awake to the gravity of the economic condition of Europe, will have probed the position to ihp fullest. There should be no question of the A)bes Jjpiflg duped in this matter. There is the fear i>f it, for the GerTnati leaders are not to be trusted. That has been revealed already—apart from the war—in the carrying out of the treaty conditions which Germany seeks to evade at every turn. The very resolution -occupying attention in Germany now i? regarded ivith snsnicion and distrust. It appears to have bom all st) easy, despite the fact that Berlin was supposed fq have beep an armed camp ready to deal with such an outbreak. Not a shop was fired though the Allies in their good nature permitted the German government to retain men and munitions to defend the stability of the country. Now the Government which signed the. I'eacp Treaty rules by courtesy, and the Supreme GVgi.noil will require to measure caiefully the gopd faith of the present ruling powers. Any .concessions regarding financial easement, elioyld .be of a pro tem character. Despite what pare might have tk?en exercised in probing the resources of Germany, the whole position may not have been revealed, and it will not do to take things for granted with so wily a bargain-maker as Germany, The manifesto which varies the peace financial terms proposes to treat the fallen foes very generously, by affording them the opportunity to make good. If, as they assert, they are unable to pay the reparation, and the indemnities which their nefarious acts so completely Incurred they ore to be given opportunities of manufacturing apd trading to build up them lost, fortunes. -This should he some test of their bona tides. ,ri*o French are incensed at the laxity they consider shown under the new proposals, considering that the variation in stipulated conditions is altogether (,■ the detriment of France. France .offered grevionsly in the war, and France remembers that, in the seventies when sbe was not allowed to escape the. rigors of the then pence conditions and the financial obligations put upon her. France was ns honorable in defeat as she. was in. war, and she paid the price. Considering the intensity of (h? FrancoGerman opinion, it is not be wondered at now that France does not wish her ' old foe to escape obligations wliHi were ignoininonslv earned, and should he paid to the uttermost farthing. Tie point is, can Germany distraught and dislocated as slie is attempt to do *■<> without facing national bankruptcy?