1919-02-15 — Page 3

force

TAN BONGKONG DAILY PRESS, SATURDAY, FEBRUARY 15TH, 1919.

PAYING THE COST OF WAR FRENCH FINANCIER'S SCHEME.

[FROM THE DAILY TELEGUACH'S " CORRESPONDENT.]

associated States guaranteeing jointly the total annuity of £1,139,500,000, each one of these allotted national shares being respectively stated in dolara, pounds starling, francs, roubles, and so on.

M

THE GERMAN PRESIDENT mory, candid about their war policy than dividual candidates who obtained polls

HERK RBERT AND HIS PARTY.

they have been so far, it will be impos which are unthinkable in this country. sibis to give a

very definite answer to La the south division of Berlin, Lede Friederich Ebert, the Gorman so this question; but precisely the latest bear, who has so frequently been pen. mident. is important not AA

& par developments in Germany anggon that tioned as an Independent leader, was the sonality, but as the representative of a ty may, after all, only have been play choice of 148,000 electors. Another In-

M. Jacquee Storn, Deputy for the DeBach action of this international loan That force is German Socialism.ng their own particular game, with a dependent, Zuboil, received in the Berlin

good deal of subtlety and shrewdness, suburban constituency of Teltow-Beoakowpartment of the Basses Alpes, who is a It is true that German Socialism bas 11 they had acted otherwise & German no fewer than 162,770 votes, or 58,000 well-known specialist in financial ques-

should only be negotiable in the country bad great personalities in its service victory would have meant for them, if more than is the previous election of

where it falls due. Bebel and the cider Liebknecht, forot practical extinction, at any rate 1907. In the other big industrial cen Lions, has dovoloped a scheme for the Stern further says: The world's serious detriment, and a German defeat oras, especially in the Protestant aroah, liquidation of the cost of the war. M.economie restoration depends upon mea

a very similar state of affairs was found. y developed individuality, but Ebertight have involved them, along with Certainly does not belong to the foringt, disagreeable consequences of Bolshevik Socialist votes were given; at Leipzig, ties to his ceion, and most of the mem-

overyone and everything else, in all the At Hamburg Altona, nearly 165,000 Storn has already given his plan in broad sures that will restore oradit, for with- inzie lines to his colleagues on the fiscal legisla-out credit no human motivity is possible. anarchy.

As it is, they enn console them. 98,800, at Dresden, 81,200, and at Munich,

The bill for all the belligerents to foot elves for national disaster by a party 87,800. These figures will help to ex- hers of the commission have approved his by the end of December, 1917, amounted triumph which they might have had to pluin what is happening in the big struggle for through whole generations, Gorman towns now that militaria be

scheme. Many deputies belonging to to £35,324,000,000. This sum is thus sub- if it had not been for the war and their been expused as a shain and the discip various groups have signed the moving divided among the Allies-- country's failure in it. Paradoxical

of & resolution tending in principle to though it may seem to Englishmanine it enforced has gone to planes. are to day, undoubtedly, many thousands

found a financial company of the nations of Gerpans who are rejoicing over the

whicb will assess between them, in propor. result of the war, because it meane or

tion

example Bad still has leaders of strong

and hurdly to the latter, calegory. He is a typica. example of how a man can Fine to the top of a political party by Bulid commonplace gifts of hand and abaracter, exupled with indefatigable industry and keen interest in his work It is through these qualities that, at the beginning of 1916, he became president of the

Democratic Bocial

party after Haase, who had previously held that

the

at any rate seems for the moment to mean the realisation of their dearest and long-cherished political dream.

voted

ut

THE PARALLEL OF 1870.

At the

resources of contribution, the fiscal duties that will cover the expenses occasioned by the war.

their respective populations ard

debt.

Great Britain france

Rassis

United Bates Italy..... Belgium, Serbia, Ru-

manis, and Por tuka...

£ 5,400,000,000 £ 4,076,800,000 3,681,800,000 £ 1,301,000,000 £ 1,910,800,000

£1,144,000,000

"QUARANTER" PROPOYALE.

The financial association is to receive from each partner State a guaranted, secured by tho Customs, Government monopolies, State railways, etc., and in the event of a State failing to meet ita ongagements it would lose its admin- istrative rights to these sources of ré-

venuo.

The total charges would repre Bont 3.43 per cent of the sum total of the national wealth of the nations taker together, estimated by M. Raoul Poret, President of the Budget Commission, at £192,280,000,000. Patriots may reason that Germany and her allies responsible for the war should bear all the moral and material consequences; that is, a yearly outlay of £1,706,000,000, Though good in principle, this reasoning will be diffi oult to apply for the moment, because the revenue derived from the public

War

wealth of the Centrals and their allies did not reach £2,800,000,000 in 1914. What would then revenues be worth to day, with the depreciation of the enemy'■ moneys on all the markets The burdena, it is argued, should be divided between the allied States proportionately to their populations. An initial penalty would be imposed on the enemy for the entire reparation of

done, esti- of damages mated provisionally at £4,000,000,000. Our enemies, it is thought, are sure to ask for admission to such a financial sys tem, which, through its working and large means, is the only way. by which partneris problem is

Stato and

It was quite evident to all careful observers that if this kind of thing went office, had receded with the nucleus of the

the progressive industrialisation of the on--as it was bound to do so long na Independents and it is because he was

entry continued it must lead, before of the party that he, later, president became Chaseoller. Elis past career is

THE PARTY'S DILEMMA.

many decades had passed, to something in interesting only for its obscurity. In no The outbreak of the wax placed the nature of a revolution and the transfer ential particular does it differ from fierman Becialists in a difficult dilemma. of political power froth the Prussian lad

The allowing are the principal argu that of a exer of bis colleagues. He was Throughout their career, as a party, they magnates, in whose hands it was then ments in support of the plan of M. Stern born in 1871, as the son of a Beidelberg had denounced much more vigoronaly frotod, to the artisan olasses. Ex.

In the first place what are the general tailor, went through a saddler's

than anyone elec buth militarism and Pericase bad shown, however, that there pouses of the war!

From fairly re-

Total for the Allies. £16,972,000,000 appron Ciceship, buy early drifted into journal. all the other hateful things they have was one effective obeak to the spread of liable statistics, the general war expendi ian and trade union offcialdom. He was been engaged in fighting for during the In 1870, Bebel had opposed the war with Allice war debt, and £11,600,000,000 for

Central Empires £ 9,350,400,000 Socialism. That was a successful WET.

ture may be estimated at £35,000,000,000, free up the Bremen Socialist last four years. They had consistently all the force of his vigorous personality the enemies

divided thus: £2,400,000,000 for the The Swiss Banking Corporation arriv in the Reichstag againat paper, the Bargerzeitung, in 1802, and

s]

ed at other conclusions. This body esti- War de

Of this grand became secretary of an artisuo organi estimates for the army, the navy, and 45d his brilliant eloquence, bat the re-

total of £35,000,000,000, it sation in 1900.

mates the outlays for all the belligerents The authority he ne the colonies. They wore opposed to snit had been that the band of followers deduct an equivalent corresponding to 18 necessary to

from August, 1914, to July, 1918, at over quired in these capacitim gave him a seat monarchy in general and to

which he had gathered round him with the recipta obtained through taxation, £35,000,000,000, as stated in my previous their own the Central Executive Committee of Emperor jo particular As soon as the so much labour had melted away, and or about £4,000,000,000, leaving dabil message. M. Jacques Stern points out she party at the end of 1905; that is to crisis becaue acate in July, 1914, their be had to begin practically all over balance to be covered of £31,000,000,000.

that the annual Budgots anouating to

wo way arrive at the reestablishment of sas. Sve years before he was elected to central committee published a manifesto gain. Would not similar biroumstances If the rate of interest on capital be fixed £27,300,000,000, are covered by Consoli- the credit of each thu Reichsing by Elberfeld Barmen. condemning the Austrian ultimatum to produce a similar effect That was the at 5 per cent. and the necessary amortis. dated and short-term loans. Further, is

Bound Serbia in the strongest possible lang. calculation of the Pan-Germans and the

tion

premium at per cent on a war the resolution to be submitted to

to be submittedtem, to Parlia-

to, and decided upon, by utige, and protesting against a

Junkers, and, unquestionably, this reckon debt of £31,000,000,000 for redemption in ment, details are given of the single German being sacrificed to the policy they drew the sword in 1914.

the Allied Governments, which will have respective Ing was one of the main reasons why

**ing would have to be covered in the populations of the Allied Powers and the hnd guarantees' under which the

fifty years, annual drawings from a sink.

the exclusive right to draw up the condi embodied in that document.

Moreover,

Centrals, their respective Budgetary ex- they knew quite well that the war way the loss of the war to thom meant the

same time, it was deaparate game, for by a contribution of £565,400,000 annual-

at of £1,139,600,000 by the Allies, and penses, and the yearly burdeng resulting ncial association of the nations after bibiny may be granted admission to the from their National Debts. The pro the terrible crime he has committed. For deliberate loss of everything. They knew it, and of damages defined in principle by the

ly by the

Further, the enemy

the

amount tare of this far reaching scheme for the moment we have only to consider the Attempt to sap their influence before it the Socialists know it too. But what armistice, and of which the burden has the ordinary annual expenditure of each dividing among the Allies of an annual

it na imperative to discriminate between becan really dangerous to the classes were the latter to do? If they had been accepted by the enamy, can be valued

francial consequences resulting from the State Of that actively opposed the war while it was

and which really reled Germany.

tho extraordinary charges at a capital of £4,000,000,000.

resul ing from participation in the in

outlay of £1,139,000,000, and a debt of there can be no doubt. In the eyes of progress and it had ended in a triumph the dominant dique of Junkers and for Germany, they would have suffered a hall the £1,130,600,000 be allotted which State would 6x as it likes the expenses Storn and others

But over and above this expense, bow ternational conflict. In future

each

Tass than £20,720,000,000.

will subarit

Migh

the officers, shortssful wars wate the great set-back similar to that which betoli will touceforward tonunlly burden tho

in connection with its interior admin-

the

proposed resolution, con- specific for political diseases. They re Bebel in 1870-1. On the other hand, if the budget of the Allies! gardel Bocialism as the most serious of they shouted with the crowd they light comes in here. In what measure, or to tical or social reforma necessary to its

A question

istration, its pre-war debt, and the poli. fides that if the Allies arrive at a cORD- mon agreement to distribute equitably there ailments, and there was no doubt well hope to hold their own, or even to what extent, will the defeated Central own development. War expenses are an

between themselves the general war ex- Chat Germany, where the most virulent extend their sway

The financial association

penses which have, or have not yet, been form of it originated, had got it very German people over the manus of the "Ovors be able to bear the burden of other affair.

material

consequences of the way.

of the nations would issue an interna

attributed to the enemy they will rapidly badly. At the general elections of 1912 that of defeat-they would keep their that is, to pay

expenses? Intional security, the interest and smortian.

reinstate throughout the world the essen- the Socialista polled 4,239,000 votes, or

Whatever manner this problem may

be tion of which would be borne by esch

tial conditions for economic development and be ready to take over the mounting, annually to £1,139,500,000,

-in one word, credit. risen steadily to that level for some do inheritance of the discredited rulers the sades at the cost of every other party moment the crank came. This seems to should and ought to be distributed pro in the country. In important areas, the be what has actually happened. It is, portionately between the Allies,

according Soriafists were already in a large

of course, impossible to say positively to their respective populations

and Thus, with a total pell of that the strength of Socialism in majority,

contributing.

amount of stock would be deliver 307,000, they took 76.48 per eant of the many to-day is such that it can continue which would take over the war expenses

company of nations should be eroated ed equal to its actual was outlay. The to keep the reins of power in its hands, of the Allics valued at £20,730,000,000. rates given in Berlin. In the metro

State can give thin stock to its creditors politan area. their candidates resolved but we have seen what its forces were This company would creates an interna-

as security, but it will be liable to the altogether 580,000

financial international association which was in 1912, and there cat be no doubt that "tional sepurity, of which ench associated

for equivalent to

an annual payment equal to its "contri- a population of some two the military debacle of the Empire has State would pay the interest and a half million. There were in increased them enormously.

and butive part," corresponding proportion amortization for its own quota, all the atoly to the number of inhabitants

WON

Down to the war he was, for the most

one of the silent majority of Parliamentary fraction, and since that time he appeare to have distinguished bimself mainly at the consistent chum pion of orthodoxy in the sense of a special sense, being directed against fidelity, not to the doctrines of Marx, but themselves. that it to the views of the majority of his col leaguo As the more solid and depend. able of the two, he would probably have boon given preference over Scheidemann, who was associated with him in the party presidency by the Socialist Congress at Würzburg in October, 1917, even if he had not had the superior dlaim in virtus

of seniority.

ROCIALIST ATTITUDE TO WAR

in

which he alone has any significance in 34.8 per cent, of the total cast. They had organisation and their authority unsolved it seems that our war burdena, State according to its apportioned purt.

The

But if Ebert is personally interest. the same cannot be said of the political force as the representative of

his Dew office.

attitude of German Socialists has to many people been one of the great puzzles of the war. and what they are doing now may for the moment deepen the mystery. They were described as the obsequious bench men of Wilhelm II, and behold they have flung him down and put themerlvos in his place. How are we to account for this apparent contradiction Naturally, until the Socialists themselves are a little

votea,

Ger

of

meens

All the States in partnership would jointly guarantee the total annual in-

terest and amortisation,

estimated at

To this end, a financial 18289.800.000. To each State in partner

...an

to

DANES FIGHT FOR THE ALLIES.

At least 73,000 Danes have fought, side by side with England and her Allin, against the Germana," said Mr. W Petersen, speaking at Liverpool Street Hotel, London, recently. Thousands of Daues in this country, being refused for the Army, went out to Canada, Aus- tralia and America, where they enlisted."

BUY TO-DAY

ST. ANDREW'S SOCIETY

WAR BOND TICKETS

LAST DAY OF SALE

$5,00

ON SALE AT ALL BANKS, STORES,

CLUBS and HOTELS.

S

5,00

HALF PROCEEDS}|IN_AID OF DESERVING WAR CHARITIES.