PAPER MONEY AND RIOTING.

New Zealand Herald, Volume LIX, Issue 18197, 16 September 1922, Page 8

PAPER MONEY AND RIOTING.

Of the many well-worn reasons advanced in favour of whittling down Germany's reparation payments perhaps none is so threadbare as the fear of Bolshevism. Astute Germans have warned us of the danger of pushing Germany too far, and well-meaning Englishmen have echoed the cry till many people are probably convinced that insistence upon payment by Germany is little removed from Bolshevik propaganda. Much less attention has. been paid to a more real danger threatening Germany through the outpouring of marks from the printing press. To-day's cables contain news of the printing of marks by the thousand million and of the inevitable sequel in bread The social consequences of printing paper money at the rate practised in Germany are sS unavoidable that disturbance and unrest are to be expected so long as the printing press is kept running. If the German leaders who professed to fear Bolshevism bad really appreciated the risks they surely would have made a stronger effort to resist the temptation to flood the country with paper money. Nor is there any sign of the end. Whatever element of truth there may be in Germany's plea of poverty, Allied leniency will be unavailing, either to bring financial strength or to avert Bolshevism, so long as the reckless printing of marks is continued.