THE Wairarapa Age MORNING DAILY. SATURDAY, JANUARY 27, 1912. GERMANY'S AIMS.

Wairarapa Age, Volume XXXII, Issue 10543, 27 January 1912, Page 4

THE Wairarapa Age MORNING DAILY. SATURDAY, JANUARY 27, 1912. GERMANY'S AIMS.

A thoughtful- article appears in the Daily 'Madl Year Book, entitled "Is |lt war?" The writer, who is said to ibe one of. the most distinguished and ibest-informed publicists in Europe, shows how the peace of Europe is being endangered by the speculative business man of Germany. The claim that Germany is over-crowded, and muust therefore secure colonies for her surplus population, is held to be fallacious and impossible of satisfaction. [The writer says tihat German disconI tent is as /the discontent of a speculative business man who, having >bault beyond his- means and mortgaged Ibis buidings, manufactured beyond tihe needs of his market, without knowing where, else to sell his 'produce, and speculated beyond his and his friend's resources, is fearful lest every pay-day involve him in ruin. &urih men and such countries are doomed to discontent until, through crisis or disaster, they are driven t'o • place their enterprises on sounder bases. German manufacturers have extended their undertakings without regard for the realities of the world's- trade. They have mortgaged both their real and liquid estate to banks which have lent vast sums, on .

inadequate security, up to within a narrow margin of estimated value. The Germain bankers, almost without exception Jews, have, in their turn, drawn vast sums on three months' loan from tho Cosmopolitan Financial Institutes cf France, which, for their part, have sapieutly organised the means o"f drawing upon French savings. At every business crisis in Germany—a crisis is menaced regularly at each quarterly settlement—the French banks advance to the German bauks, without the knowledge j and against the will of the French people, the .millions required to square German accounts and to bolster up the great gamble of three months more. Thus, for mamy year?, j France has .financed German industry ] •and rendered possible the mainte-i----i ance of the huge army and navy, . twhiich. could not have been kept np I without the taxes levied on German , industry. As long a,s France wiaa isolated, or bound only by a deienuive alliance to Russia, Germany well knew that the German sword, the greatest commercial! asset of the country, would .ensure French pliancy. When, however, France, having strengthened her military, naval and colonial position by agreenis.it with- England, began to show ■!«•<*« terror of tlie German sword, th«rc arose in .Germany the doctrine that i France 'must be held as a hostige for England, and that, if England destroyed the German fleet, France rnnist be Wed afresh and made to provide such an indemnity as to place i German industry and commerce bei yond risk' of catastrophe. During the I Morocco negotiations, German pressure for financial support from France <has been constant; and it will ,• be-well for France and for E.iglani if the published Morocco-Congo understanding be not by a tacit agreement that the French Government will not intervene "to prevent the raids of German banks upon the savings of France. Nevertheless, it (.may be difficult for Germany, even with the involuntary help of French tihrnifit, to escape financial crisr. if German policy continues to fol-ow its recent" course. The aim of Germa.i policy has not changed, will not change, cannot change until Germany j puts her own affairs in and lives, manufactures, trades, and arms within her own means. Unl : l then it behoves England to take counsel of Flrance, and to keep her ,»toro of powder not only dry but large.