GERMANY BANKRUPT—WIN OR LOSE.

Taranaki Daily News, Volume LVII, Issue 195, 26 January 1915, Page 7

GERMANY BANKRUPT—WIN OR LOSE.

THE TRUTH DAWNING. CHANCES OF VICTORY VERY SMALL. (Daily Mail Correspondent).

Copenhagen, November 21. Spirits are very drooping in Germany to-day according to a Gei'man barrister who lias just arrived liere from Frank- , fort-on-Maine. He quoted at some 'length the opinion of a friend of his, 1 a German Reichstag deputy from one of the smaller German States whom he had met in Frankfort. "No, it is not patriotic to refuse to' face the truth, and the truth is that our chances of winning are. very small," he said. "It is no less true that if the war is continued for some years, and we lose, Germany is completely ruined for at least half a century. That is absolutely certain. We shall have to pay not only the many hundreds of million pounds the war has cost us, directly or indirectly, but we must also compensate the especially Belgium, for all their losses. "I do not fancy that tbe enemy will

get much out of us, for the simple reason that if we lose after a war of •would riot regard it as harmful for us to position to pay damages. Immediately after such a war the German Exchequer i will go bankrupt and Germany will not be able to pay even her own Public i Debt or an indemnity to tho Allies. So utter will be the ruin of Germany that I am sure a century will elapse before her wounds are healed. After such a war, you must remember, it will be almost imposible for us to earn a penny ■ abroad. The reason for this is obvious. | Taxation ■in Germany will increase to "such an extent that all business will be ■ crushed. This risk is too great to run, and therefore my opinion is that, in spite of what chances we may have, we should try to get a tolerable peace as

I soon as possible and before our situa- ]' tion is such that we liave not the slightest influence on the terms. C "Though many far-sighted citizens conI cur in my opinion, it is, I am sorry to 1 say, not that of the ruling party. The i Kaiser has said that if Germany could I be vanquished and not be able to continue as a military State as heretofore, ' lie and his sons will seek death on the ' battlefield. Personally, I should not re--1 gard it as. a misfortune for Germany to '.disarm to a certain degree if other I States would be disarmed as' well. I ,' would not regard it as harful for us to ' spend some millions yearly on the Mili'tary Budget if there'could be formed a ! European Union guaranteeing the integ- i rity of all States. • "It is clear that the Allies will also

1 suffer enormous losses in lives and .money if the war should continue for several years, and in my opinion it , would not be impossible to get an acceptable peace for Germany if only we 'were willing to disarm to such an extent that the other States would have no further danger to fear from us. "Of course, I should have wished that wo might gain the victory and dictate .the terms of peace, but at present our risk seems to be so great that I would prefer such peace. It will not belong before what I now say here privately Lwill be spoken aloud and publicly in '/Germany. At present the military still have the floor, will have it, perhaps for .some months to come, but if then the 'situation is the same as now, or perhaps worse, they will not dare then to .deem it treasonable to speak of peace. I But the faster time passes away and the I more we have to spend, the greater losses directly or indirectly have we got and the dearer peace will be to buy." This German barrister had talked witn other intelligent people in Germany, and said he always found the same apprehension and the same longing for peace. Of course, all those who possess something have more to fear from the length of the war than those who have no means. A State bankruptcy would ruin most well-situated people in Germany, and it is these people principally who I admit that.the military party has failed, i.and if it is allowed to go on will bankI'rupt the State. But people dare not say these things in public yet. I ' i