Even though Nazi Germany’s financial condition is becoming more and more serious, the German people will continue to regard their leader as a messiah and savior, Max Winkler, economist and statistician, declared yesterday in an interview.
“The German always desires to follow some leader, even when the leader cannot lead well,” Dr. Winkler explained. “Hitlerism is looked upon as a religious affair. Hitler is the savior and the messisah. Therefore, even if economic and finacial conditions becomes worse ‘God wills it !” To expect salvation for the small number of liberals and Jews from this German government, or any government that may follow it, is fantastic. The minds of the people have become so poisoned that it will take centuries for the poison to lose its strength.
“There is absolutely no hope for the liberal or ‘non-Aryan’ minority, and the sooner the world realizes this, the better it will be for all concerned. The Jews and liberals can be saved in one way: Take them out of Germany.”
Discussing the effect of Hitlerism on the outside world, Dr. Winkler maintained that dictatorships inevitably have meant war. History as recorded gives ample proof of the accuracy of this statement. Sooner or later, he declared, what happened before will happen again.
‘HITLERISM MEANS WAR’
“Hitlerism means war,” the economist said. “It may break out tomorrow or it may not break out for another five years. It is not difficult to predict the alignment of the nations. It will be a war of Western Europe against Central Europe. Italy will under no circumstances join Germany, simply because she realizes that it would be against her own welfare. With Czechoslovakia and Yugoslavia massing large armies near her borders, and with the threat of the British fleet in the Mediterranean, Mussolini can do nothing but refuse to join Hitler. Austria is now insignificant. Hungary can accomplish little. A war such as thish will be short. and there can only be one end. And this time the victorious allies will make a better job out of the peace than last.”
Commeting on Germany’s present economic status, the economist explained that Germany is a highly industrialized country, de pending to a large extent upon its foreign trade. “A large percentage of German workers owe their employment to German foreign commerce. In this there has been a downward trend. The January figures show not only a pronounced decline but also an unfavorable balance of trade for the first time in four years. The invisible factors, too, have diminished, Until now, Germany received maoney from (1) income from foreign investments; (2) her merchant marine; (3) freight and insurance; (4) remittances from emigrants, and (5) tourists and travelers. Today, she receives no remittances from abroad. Her income from the merchant marine has been drastically reduced-the two most important German shipping companies are pleading insolvency and are not paying any interest on their bonds. There are few tourists and travelers, because of the economic conditions in the countries from which they come, and because of the press reports about Geramany. Practically every other source of invisible income has disappeared. Therefore, the visible merchandise becomes of increased importance.”
MARKS CHEAPER IN GERMANY
Professor Winkler admitted that Germany’s trade statistics, as given, are accurate. But they do not tell the whole story, he said. Because of laws enacted in Germany in regard to the restriction of exchange and currency, and because of the restrictions on various types of money, is is possible for an importer of German goods to buy merchandise with German marks purchased at a substantial discount. These blocked marks as they are called, may be purchased at about one-half their value inside Germany. The surprising thing; according to Dr. Winkler, is that according to Dr. Winkler, is that German trade has not gone up tremendoulsly, considering the almost overwhelming impuls to buy that must exits. This proves a real resistance to purchasing Germana goods. The willingness to sell at the fifty per cent, discout shows that there is today a fight from the Grman mark, the economist pointed out.
“Germany spends today-for distinctly non-productive and non-revenue-producing activities, such as military parades and rallies and mass meetings-from a billion to a billion and a half marks a year,” Dr. Winkler stated. “This cannot be supported by Germany’s financial condition. Where does the money come from? Does it come form the printing presses ? That this must be so is proved by the fact that people are willing to dispose of their German marks at so great a discount. Does not this foreshadow a repetition, on an even larger scale, of the post-war German orgy of inflation ?”
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