The Daily News. MONDAY, JULY 10, 1922. GERMANY’S MADNESS.

Taranaki Daily News, 10 July 1922, Page 4

The Daily News. MONDAY, JULY 10, 1922. GERMANY’S MADNESS.

The recent remarks made by Lord Beaverbrook as to Germany’s industrial and economic position are emphasised by another considerable drop in the value of the mark, attributed largely to the political unrest following Dr. Rathenau’s assassination and the attempt on the life of Herr Harden. The real cause of apprehension as to Germany’s financial failure is probably due to the pronounced activity of the Monarchists, whose plots are responsible for the murderous attacks on those who are striving to strengthen the Republican Government, and are therefore barriers to the restoration of the monarchy. Tt was only recently that the ex-Kaiser was alleged to have expressed his opinion that Germany would once again become a monarchy, though he was out of the picture. There is very little doubt this interview, if it happened at all, was engineered for the special purpose of furthering the plots and‘intrigues of the Monarchists. It is well known that Herr Stinnes is tlie financial backer of these troublemakers, and that he aimed at obtaining control of Germany’s political affairs by means of the power of the purse. Dr. Rathenau’s appointment as Foreign Minister was a great blow to Herr Stinnes’ policy, so that it is not surprising the Minister was swept out of existence in that ruthless manner which the old Kaiserian regime had no scruples about adopting. It will be remembered that, in November last. German industrialists, headed by Herr Stinnes, in an interview with the Chancellor, laid down as a condition of placing their foreign credits at the disposal of* the Government for reparations purposes. that the railways should be denationalised. Naturally such a proposition at once aroused the hostility of the Socialists, who perceived in the move the thin edge of the -wedge to give the industrialists control of the country, and the statement which was then made by the manager of the National League of German Industry that the ownership of the lines would be in the hands of a semi-public co-operation, in which industry, trade, agriculture and the workmen themselves would participate, failed to allay the suspicion that the capitalists wanted to control the railways for political purposes. As an additional inducement to the Socialists to accept the scheme, Herr Stinnes said it was “a! different solution of the obligations arising out of the Allies’ ultimatum, and the lightening of the load of taxation on industry.” Instead of having the effect desired by Herr Stinnes these proposals were viewed with profound suspicion by the workmen, who only discerned an attempt by Herr Stinnes to make himself the dictator of German;.. According to Lord Beaverbrook, Germany, industrially, is helpless because German finance has been smashed. He predicts that Germany’s mad period of inflation will end in a crash, 4 'which must involve repudiation of debts before conditions in that country will return to normal.” What will happen if the crash and the repudiation arrive no one can predict, but it is safe to assume that France will not be restrained from taking action in the direction of seizing German resources. It has been stated that France is the only country which relies on receiving reparations money from Germany, for the reason that the problems of France are political, and she is insensitive to the economic needs of Europe and Britain. "Take what, internal measures she may, nothing that Germany can do prevents the progressive depreciation under the present reparations policy,” remarked the Observer in October last. Under these circumstances there appears to be good -reason for the advice given by Lord Beaverbrook when he urged the

business men of Britain to turn away from Central Europe to England, Scotland, Ireland, the Dominions, as well as America and other foreign markets where British commerce and industry would prosper. A policy that is desirable for the Motherland must also be suitable for the Dominions. Conditions in Germany at the present time are such as may well be viewed with anxiety, for when madness sets in there is no knowing where it will land the people and what may happen to all interested nations. A thriving Germany is necessary for the peace of Europe, but how she is to become thriving is a. problem that appears to defy solution.