Evening Star Newspaper, February 25, 1926, Page 35

FORESEES GERMANY AGAIN PROSPEROUS American Economist Says Nation Is Likely to Reach High Level. RY EDGAR SEL. MOWRER. By Radio to The Star and the Chicago Daily News. BERLIN, February 25.—The Ger man economic situation is so like that of the United States during the crisis of 1920-21 that one is justified in prophesying a sure return to a high level of prosperity, notwith- standing the burden of the Dawes payments, ete.” s Such is the opinion of Prof. David Friday, one of America’s most gifted economists, who has spent the last two months here studyl business, industry and ag " osaid P i is undergoing a ¢ nature which I nee ause you and your readers and it as well as 1 do. b ¥ n economic machinery, Ger- ™an mentality—everything—are un- dergoing a transformation under eco- nomic pressure. This may take some time and cause considerable suffering. but the fir result, in my opinion, is absolutely certain. “Germany Coming Back.” Germany is coming ¢ Germany offers the field to the investing most exact parallelism today and Americ home, as now her, s huge. plants wer bout 60 per cent « were blue, hardl spoke of plant overcapacity. “Yet today, although lahpr now is as well paid in 1919, American pro duction is great, prices are lower, and | general prosperity is high. This has | been accomplished through invest- men of capital in industry, through improved methods, ete. Therefore, 1 venture to predict that the interest rate in Germany will continue to de- crease during the entire year, and | that within a shorter time than most Germans imagine their unemployment | and bankruptcy figures will begin to diminish gradually and most of their industries will pick up. There will be higher, not lower, wages and a | general betterment of agricuiture. “Cheaper production will be occa- sioned through installation of new machinery and new organifations. New methods are already certain. Certain German industries already Bave thoroughly rationalized produc- on and are driving others from the | market. Unlimited Trade Possibilities. Now. cheaper production means mited possibilities for foreign | I would not be surpri n’exports within a sl for new machinery tlon can be provided by Ameri must not be forgotten that within a short time the Germans will be able to place loans in America%on much better terms than today. Germany obtains from Ameri $300,000,000 annually. This consti- iutes only per cent of the annual American investment and could easily e increased “As for higher wages, it must not | be forgotten that the real buying power of the nation resides almost entirely in wages paid and in farmers’ crops. A way must be found to pa German workers higher secure from them greater Thus bath buving and the power productivity would be raised simulta- neously. “Finally, cheap production of nitro. zen and fertilizer seems to offer possi bilities for Germany within a reason- able period to become almost self- supporting.” “Then you helleve Germany may possibly be able to reach 250,000,000, 000 marks a year in export surplus, |} a8 required e maximum repara: | tions payments?'" the writer asked. Cannot Be Positive. "1 cannot foretell the future,” Prof. friday replied. *“I would only say, | fivst, that this sum could for som time be covered by foreign invest- ments in Germany; second, that should Germany cease to import any | =reat quantities of food. such a trans. - could be made from present fig- third, that Germany is only by ing to understand the vast pro- | cable here, thereby bec GRIPPE lieve headache, neuralgia, toothache, ;.| rheumatism, neuritis, women’s pains I venture to’'say that reparations pay- ments and their transfer may quite possibly prove easier than short- sighted critics imagine,” 3 ““What are the obstacles to be over- come?"” “These obstacles mostly will disap- pear automatcally. Capital will be drawn into Germany by the prospect of high returns, Money will become gradually bue surely cheaper: Infla- tion mentality—the lack of an under- standing of the value of money and the habit of big profits oa small sales —will disappear. ““Moreover, if my suggestions are followed and greater wages ave paid, the possibility of social troubles un- doubtedly will diminish. 1 congider | Germany today a very safe countey.” Germany’s Economic Position. “What is Germany’s position in the new KEuropean economic system now being formed?” Prof. Friday was " he replied. “Germany is, she will first and most widely introduce mass production, and there- by win the greatest profits. Except- ing possibly Belgium, Germany is the most highly industrialized region in the world. Tt is the greatest single | ethnographic group in Europe west . TThis is a great advantage. v_in the nineteenth cent t Britain carried out the first in- al revolution, winning the hegemony. After the imitated this industrial rev n on a more modern scale, be | coming thereby Europe's greatest pro- ducer. Then, in the twentieth cen- tury, America carried out a second industrial revolution through stand- ardization, mass production and great credit expansion, thereby distancing all rivals. “Now the Germans alone seem to understand this revolution. German interest. in the United States is amaz- ing. The number of first-class boks which have been written about Amer- ica surprises and impresses me. I am convinced that alone among the Europeans the Germans realize what must be done, and will copy American methods so far as they are appli- SRR RRASS RN ALAR SRS IR RS ARAR LIRS SRS RS ory for near ¥ pe, including |~ (Copyright. 1926 by Chicago Daily News Co 1 | —_— ZVESJpPOCKEN-BOX__ K TABLETS) | Antikamna ; Tableis " One or two Anti-Kamnia Tablets soon stop the aches and chills of grippe. Also break up colds and fevers, re- and end insomnia and nervousnesa by promoting sleep. 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