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Capital Comment

July 1, 1934
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With a climax about to be reached in the political and economic crisis engulfing Germany, a marked change in Hitler’s policies may be expected.

Reports received in Washington indicate that the Hitler government is in a poor position to follow a course of retaliatory action against other nations. Despite all talk of barring imports and intensifying the nationalistic tendencies, the fact remains that Germany cannot divorce herself from the rest of the world.

The German government’s viewpoint is not definitely supported by any of the important European powers. Such countries as Russia, Poland, Turkey, Rumania, Yugoslavia, Czechoslovakia, Belgium and Finland are siding with France. The attitude of Great Britain, Italy, Austria, Hungary and Bulgaria toward Germany is uncertain. But the significant thing is that no nation has come out definitely in support of Hitler’s policies.

Before Hitler came into power, Russia, Bulgaria, Austria and Hungary were definitely supporting Germany’s policies. The attitude of Great Britain, Italy, Turkey, Finland and Greece was uncertain.

While business and industrial conditions in practically all European countries are making gains and indicate a more hopeful outlook, Germany finds herself in an unsettled state.

Reports received in Washington from Department of Commerce representatives in Germany reveal that for the first five months of this year Germany imported goods amounting to 1,925,400,000 marks and exported goods totaling 1,747,500,000 marks. This represents an adverse balance of 177,900,000 marks against a favorable one of 263,000,000 marks a year ago. A major factor contributing to the unfavorable trade balance is the boycott against German goods by other countries because of Hitler’s policies of anti-Semitism and persecutions.

Now the Hitler government is engaged in some deep thought. Uppermost in the minds of leaders is the problem of finding ways and means of meeting the threat of economic paralysis. The Reich is in a critical financial condition and a way out must be found. From all indications the Hitler government will have to do some relenting and enforce marked changes in policies before other nations will aid in easing the situation.

General opinion in government circles here is that Dr. Hans Luther, German ambassador to the United States, now in Germany, was recalled to lend his talents to bringing about a solution to the Reich’s grave problems. Dr. Luther is one of the outstanding financial experts in Germany, ranking in this respect with Dr. Schacht, president of the Reichsbank. He formerly was chancellor of the Reich and president of the Reichsbank.

In his conferences with high Reich officials, Dr. Luther probably will be in a unique position. He has been in the United States for some time and far enough away from Germany to gain an excellent perspective of the world’s attitude toward Hitler policies. In this respect he should be able to contribute much to the discussions.

Representative Sol Bloom of New York is an authority on ### Memorial University at Cumberland Gap, Tenn.

Recognizing Representative Bloom’s devotion to the memory of Washington and Lincoln, the university recently conferred on the New Yorker the honorary degree of doctor of laws. In conferring the degree, Chancellor John Wesley Hill made the following citation:

“In recognition of his pre-eminence in law, history and political science, his epochal services as director of the United States George Washington Bicentennial Commission, his influence and distinguished leadership as member of Congress from the State of New York, his contribution to social and economic progress, his patronage of higher education and his adherence to the ideals of Abraham Lincoln.”

One of the outstanding first-termers of the Seventy-third Congress is Representative Herman P. Kopplemann of Connecticut. As a legislator, Representative Kopplemann has made an enviable record. To his credit are three bills, for one of which he was solely responsible. The other two carried important provisions which he fathered.

The bill written by Representative Kopplemann and passed by the House and Senate, was one calling for a nation-wide investigation of the milk industry by the Federal Trade Commission. This is conceded to be one of the most far-reaching pieces of legislation designed to unearth facts for the development of a system of milk distribution under which the farmer gets a fair price for milk delivered to the consumer at a reasonable cost. The other two bills which Representative Kopplemann has carried through to final passage include loans to small industries and the tobacco production control measure. The House member from Connecticut represents the first district of that state and all three measures are of considerable importance to the district as a whole.

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