1939-09-18 — Page 10

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"THE MEDITERRANEAN” (Background for War)

TO-MORROW ALHAMBRA

At The

THE CHINA MAIL, SEP

HAS GERMANY AN

Why Her Reserves Cannot Be Very

And Shrunken Imports

The fact that "a war that is lost foodstuffs, 'Rm.3,762,000,000 raw`ma- and Rm.1,850,000,000 semi- economically cannot be won militar- terials

Germany, finished goods. From 1925 to 1930, ily" is fully realized in

Press and the whole economic

of inclusive, the average yearly imports the Relch is now discussing the fac- totalled Rm. 12,400,000,000. The peak tors that would be called into play was reached in 1927, when imports of totalled Rm.14,228,100,000, of which should the economic equipment

accounted for Rm.5,667,- the country suddenly be faced with foodstuffs the test of war, says the "Financial 800,000, raw materials Rm.4,117,500,- 000 and semi-finished goods Rm.2,787,- News."

400,000.

that

Germany could

Wirts-

the

decides

FALL IN IMPORTS

year value of raw

BRITAIN'S

By comunon consent it is now as- long. sumed that a war would be

In 1931 there was a sudden drop Even the official "Deutsche

Of in imports to Rm.6,727,100,000. chafts Zeitung," the organ of Reich Chamber of Economics, e- this amount, raw materials accounted cently published an article entitled for Rm.1,832,200,000, and this figure "Zur-Frage der Kriegsdauer" ("How remained the highest for any

and till 1937, when the Last?"), Long Could a War came to the conclusion that, as it is materials imported rose to Rm.1,906,- always the opponent

200,000 and total imports to Rm.5,- hardly be 488,400,000. In 1938, imports reach- this question, there can any likelihood of a swift, short war.

ed Rm. 5,449,300,000, of which Rm.1,- STOCKS HELD

849,800,000 was in raw materials; but This at once raises the question these figures are, not comparable, be- whether

obtain cause as from April, 1998, they omit enough foodstuffs and raw materials trade with Austria, which had mean- to carry on highpressure operations while been incorporated in the Relch.

of

very big time. At all events, there is a for any extended period

1930, since How much foodstuffs, iron ore, tex- drop in imports after tiles, oll, petrol, rubber, buna (syn- when imports-measured by value thetic rubber), coal and other essen- have remained considerably less than tials Germany can import or pro- half what they were before the de-

calculated pression began. duce for herself can be

INCREASED MINERAL PURCHASES more or less reliably.

Allowance must be made, of course, What is not definitely known is the extent of the stocks she holds for the drop in world prices. In the now, and on which she would have latest edition, just issued, of his well- to count to carry her over the period known work "Warum Aussenhandel?" in which she was adjusting her ("Why Foreign Trade?"), Dr. Elcke,

to war-time economy

conditions. director of the Reichsbank, states that Goering professed armament could g breakneck speed, Trustworthy data as to what reserves from 1933 to 1938 imports of minerals

from 2,200,000 tons to Four-Year Plan, Ge Germany holds can only be obtained increased

4,400,000 tons. Among the chief items by inference.

production of synt Certain general considerations show are iron ore and bauxite. It is well good the deficiency

present that the reserves Germany holds can- known that Germany is at

be formidable. not possibly

The suffering from a most severe shortage signed, and the seco

of. The increased imports

That no great s semi-annual report for 1936 of the of iron.

been accumulated Reichs-Kredit-Gesellschaft-the Ger- iron ore did not, therefore, go to the

dent, for in 1938 ar man State owned industrial bank

of aluminium production says that "in 1931-32 German indus- increase

180,000 try, trade and handicrafts held stocks from 19,000 tons in 1993 to of all kinds aggregating about Rm. 20,000,000,000."

accumulation of reserves, while

the

in value tons in 1938 accounts for the whole.

con-

As the world depression then pre- vailed, these stocks were not sumed, but rather tended to increase, world market of for the collapse prices of raw materials tempted Ger- man industrial firms to buy as much raw materials as their means per- mitted.

EFFECT OF REARMAMENT

4

increase of bauxite imports.

the East Coast" during practice. serves are exhausted SCHACHT-GOE! Late in 1937-it w --the differences be Goering occurred. a change of econon

began.

great territorial chi which Austria, the

mel and finally the

absorbed into the F consumption of ind

ECONOMIC MIRACLES But it must be remembered that ials but reducing ti

in Germany Austria, for instant › after 1933 production increased by leaps and bounds, until tive foreign tourist it exceeded that of all previous re- cho-Slovakia her cord years. In 1938, for example, United States. the German output of pig-iron, which FINISHING MAT

tons in 1932, According to a had been 5,370,000

tons 18,600,000

(both summary of the ba aggregated

An article published by "Der Deut- figures inclusive of Austria), and that public companies, sche Volkswirt" towards the end of of steel rose from 7,430,000 tons in of about Rm.3,000.

1936 1937, when this organ was still re- 1932 to 23,241,031 tons in 1938, Ger- hand in

Dr. man production being exceeded only Rm.031,000,000; in garded as the mouthpiece of

Minister for by that of the United States (28,100,000,000; and in 19 Reich Schacht, then

000. This sugges: Economics, stated that a change of 000 tons).

As production was soaring at this gre imports and economic policy was imperative, be-

rear rate, and as imports were far below tion, German ind cause-under the stimulus of

Wes consuming half normal, it is evident that Ger- its stocks. mament-Germany

That this is not and many must have been consuming her more than she was producing,

Only the existence of the is shown by the of reserves. reserves that consequently her

'vast reserve, of Rm.20,000,000,000 Deutsche Bank. raw materials were exhausted.

is worth of materials at the start of the it says, "is a con That this was no exaggeration

regime in 1933 increase of mater official foreign National-Socialist apparent from the trade figures. According to the could, in the face of falling imports, enhanced Statistisches Jahrbuch fur das Deut- account for the "economic miracles" production, but,

But, as Dr. friction in the dis sche Reich (1938), German imports of the Hitler regime.

tion of raw mater in 1913 aggregates Rm.10,770,000,000, Schacht pointed out in 1937, "we con-

of semi and of which

was sume more than we produce our re-

Rm.4,111,000,000,000

impor

Brinaina Up Father ·

YES-MOTHER - MY HUBBY AND I WILL SAIL FOR DEAR OLD

LONDON EARLY NEXT WEEK

I DO HOPE YOU LOVE BIRDS WILL HAVE SUCH A NICE TRIP-

WE WILL BE SEEIN’ YOU OFF ON THE -BOAT-

WELL-IT'S NICE TO. KNOW THEY ARE SAILIN' BUT IT'LL

BE LONESOME WITHOUT ME DAUGHTER AROUND THE HOUSE-

KNEW IT- THERE GOES MAGGIE-SHE IS STARTING TO CRY BEFORE THEY EVEN SAIL-

MY ERROR-

t

By