PAZZ OURTHEMICHIGAN DASUNDAY, JANUARY 6, 1924
wAu u'oua H IHGA Rx
The European Boiling Pot
Post-War Impressions
Naples, Italy THOMAS J. KOYKKA there will come a time of desperate
December 4, 1923wat
Europe today is a world in the re- has taken every parliamentary step September, 1922. Similar gains are In Germany the social situation is
withhated noed i th reurn fro moth o imost critical-while conditions ln
making. It is seething with hatred possible to insure the stability of the noted the returns from month to ntral Europe and Frane are little
and discontent, and many believe, pound sterling-and to keep it on the month. Imports, at the same time, better Such conditions as these may
headed for a new war. Meanwhile s the American dollar mainly in raw materials, are on the ye ay
it is experimenting with forms of In this she has succeeded, if that was increase. only make new war more probable.
I I tisshjhs uceeed ixtatwa
government entirely new, and through her aim, for the English pound has *A generation of young men-11,000,
this may yet bring about its own sal kept its pre-war prestige on the mon- The vast stretches of war devastat- 000 it is said, were sacrificed during
vation- ey markets of the world. As a result, ed territory in both France and Bel- four years of fighting, that the world
Nevertheless, to all external ap- foreign political leaders contend, Brit- jgim has greatly retarded production might be freed from a military yoke,-
pearances, Europe lives and carries ish factories are unable to compete in both countries, though the latter
pen scmces and busnessmuhwt continental industries, which dueinbtcotrehug telaer yet observers point out that Europe
on its commerce d smum with nation has made huge and almost on- today is no less a military arsenal
as it did in the days before war clouds to favoring rates of exchange, are believable strides in reconstruction- than it was in 1914. Europe bristles
gathered. If it is on the verge of abl'e to undersell the British manufac- having far out-distanced the French for combat, and recent incidents, such
financial ruin and social disaster, it turer, and thus deprive him of his in this matter. Especially in Belgium. as the "Corfu affair" tend to show that
at least is not tottering on the brink market.re-construction work has given great nations still must exact "justice" at
of that chasm into which many have French industry and commerce is impetus to all allied industries. This the point of the sword.
consigned it, but rather, is slowly but fast regaining itsformer vigor as is temporary prosperity has been paid France is carrying a tremendous
surely gathering new strength and.
sney lifeBsingess dstrntd wi indicated by the ever increasing ex- out of the States' treasury pend- military machine, which she considers
lie. restrainssd irnsties arh port figures of that nation. In Sep- ing delivery of complete reparations necessary for her protection, though
their pro-w ar tember, French exports to the United payment by Germany. Many are of 1it is draining her treasury.
pushed to regain their pre-war speed. States, totalled $50,000,000, as com- the -opinion however, that when this Italy, one thirtieth the size of the
Even in Germany, but little of the pared with a total of $3,000,000 in re-construction work is completed,I (Continuedon Page Six)
distress and suffering that is reallypl
there, shows through at first glance.
Cafes and theatres are thronged,-
restaurants serve none but the best,-
the natives are well clothed and spend
freely. For this there is good reason.
The German must spend as fast as q 9./WIi "Il/
he earns, lest tomorrow's swelling ex-
change swallow up the profit of to,,
day's labor.-
But beneath this apparent gaiety-
where the shadow Of war is long since y/"
forgotten--there is untold suffering,/
which has come chiefly through the
collapse of the mark. Whether this /4
fall of the currency was engineered
or not, as many claim, probably can
never be determined,-but in any \4\
case it remains the most colossal'. 0
swindle the world has known since /,1
John Law's bubble burst in 1720. With
ithas comea complete and chaotic / '
re-distribution of the country's wealth
-the poor growing poorer and the
rich ever richer. Millionaires, hold
ing their money in gold marks, were/
never richer than they are today.Mauctrsadln'/ig
Manufacturers and land oning
classes have benefited most by this
fall in currency and consequent shift
in wealth for mortgages and debts I
have all been automatically wiped out.1
Physical property, which can never I
change greatly in 'price, meanwhile,I
has retained its value, and the reali
wealth of Germany thus remains what
it was before the war, Now it is con- usda b the smakoru
centrated in a smaller group. c Eetrisp
Many great industrialists have add-
ed to their capital by making add-
dons and improvements to their
plants. They are not alone in this,
however for the government has also
expended great amounts on new con-
struction. Railroads are being 1m
proved-and ships are building in all
the great yards of' Germany. Jfl
Banks, having peculiar facilities
for dealing in foreign exchange, like-
wise have been reaping great har-
vests. The usual rate of interest paid
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England has long faced a serious
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