"WE HAVE BEEN BEATEN."

Auckland Star, Volume LI, Issue 196, 17 August 1920, Page 2

"WE HAVE BEEN BEATEN."

GERMAIN ADMISSION OF DEFEAT.

The "Democrate Chretien Vingtism* Sieele," of Brussels, publishes an interview with Herr Waseermann, a director of the Deutsche Bank, has granted to its Berlin correspondent. la this Herr Wassermann expresses his confidence Germany will eventually recover her prewar etability, and even prosperitj', but fears that the recovery will 'be only after a long interval. Xumbed as they were by the privations and anxieties of ,tlie war, no one want* to work. Th.2 only desire is to seek oblivion in aimlc-s amusement. As Herr Wassermann put it: '"We have been 'beaten, but the people have not yet taken a full account of the costs 'which they must face, cr of the extent of the disaster. "The plain facts liave been concealed by the apparent wealth everywhere displayed." Xever lias money been spent 60 ■lavishly or in such large eunis. Once, however, the masses of the people commence to take an account of their real distress and of their liabilities, there will be an hour of frijrhtfal depression and almost of hopelessness. "Germany, ,, he added, "cannot possibly enter on any war for many yeajs to come. There is no such danger as has been represented. But if the Entente insist on the demobilisation of the army thoy can only encourage fTeek attempts at a ooup <l'etat by Junkers who fear to old privileges and revenues onoe the Republic i« firmly established."