The Daily News. WEDNESDAY, JANUARY 26, 1921. GERMANY’S ECONOMIC AGGRESSION.

Taranaki Daily News, 26 January 1921, Page 4

The Daily News. WEDNESDAY, JANUARY 26, 1921. GERMANY’S ECONOMIC AGGRESSION.

If there was one fact as certain as that night follows day, it was that Germany would, after the war, endeavor to the utmost of her ability to make her enemies pay for her losses caused by the war in the same way as she extracted from them over several decades, the means whereby she prepared her armed forces for “The Day.” The Allies were quite aware of this intention, and solemnly discussed the matter several times, notably at the great economic conference at Paris in March and June, 1916, while in July of that year it was announced that a committee had been appointed to consider the commercial and industrial policy to be adopted after the war. At the June Conference it was declared: “That after forcing on them (the Allies) the military contest, in spite of all their efforts to avoid the conflict, the Empires of Central Europe are to-day preparing, in concert with their Allies, for a contest on the economic plane, which will not only survive the re-establishment of peace, but will at the moment attain its full scope and intensity, ... with the obvious object of establishing the domination of the Central Powers over the production and the markets of the whole -world, and of imposing on other countries an intolerable yoke.”

A series of measures were framed by the Allies to counteract this grave peril during the war period, the reconstruction period, and as a permanent policy, in order to defend “their industry, their agriculture, and their navigation against economic aggression resulting from dumping or any other mode of unfair competition.” Manifestly, although the Central Empires were mentioned, it was against Germany that special precautions were necessary. The war resulted in the downfall of the Central Empires, so that Germany now stands alone to carry on the economic war. Instead of fulfilling her obligations under the Armistice and Peace Treaty, Germany has been playing for time and utilising her resources to flood the world’s markets

with cheap goods and at the same time deal a blow at the_ reeonl struction work, of the Allies, the ’ German Government liberally subsidising this economic aggression, i Consummate ingenuity has been ‘ exercised by the Germans in mak- , ing out a ease for pity and leni- - eney, and it succeeded beyond all ■ they could have hoped would at- ! tend their camouflaging of the ! situation. As a result the feeling has been evoked that Germany must be given a chance to restore her industries and trade if she is to pay the Allies for reparations. A recent cable message from London states that the present year will witness a determined effort by Germany to regain her pre-war hold on the world’s markets. What else could be expected? The deliberate warnings voiced by the Allied Econoi mic Conferences have been ignor- : ed, and the German Government iis “ substantially fostering and i subsidising a gigantic trade I sweep, directed particularly j against late enemies, and for ‘ r revival of Germany’s overseas ; trade.” The war reduced her ini' iernationaS trade to ashes, but ; phoenix-like it arising from ’ '.rose ashes with renewed vigor nrd determination to prey upon world’s markets, to impover- •! isL Ler late enemies and destroy ! their economic stability. Who I can blame Germany for making the most of an opportunity that should never have been offered? While recognising that it is desirable from every point of view that Germany should become economically sound, it is obvious that the attainment of this object should be effected only by legitimate means, and not at the expense of the British Em- ■ pire, and it is certain that unless effective measures are taken by Britain to stimulate her industries and export trade, as well as to check the dumping of Ger- ■ many’s cheap goods, it will not be ' long before a serious situation • will arise that will vitally affect 1 the whole of the Empire. If that is to be avoided no time should be lost over the institution of effective measures of protection. Germany is once more feeling her feet; events move rapidly; so that i the time is ripe for such action as will safeguard the trade and commerce of the Empire from Teutonic depredations.