CURRENT TOPICS.

Taranaki Daily News, Volume LVII, Issue 195, 26 January 1915, Page 4

CURRENT TOPICS.

DISTRESS IX GERMANY. Particulars claimed to be authentic, regarding the general state of affairs in .Germany, have been published in Amsterdam. They show that the number of unemployed in the Fatherland, without counting those who have joined the colors, is fully 10,000,000. The result is growing discontent on all sides. The people are sullen for the present, but are likely to burst forth at any time. The authorities are taking no chances, and, despite the urgent need of men in the field, they keep large bodies of troops in reserve for emergencies in all large cities, but especially in Cologne, where the situation has once or twice assumed an alarming aspect. Only recently has the truth with regard to the war begun to trickle through. Notwithstanding the precautions taken, Swiss, Swedish and Danish papers have been smuggled into the country, and the bet v ter classes, at any rate, now know that not only is Paris not besieged, but that neither Calais or Havre run any ganger, and that it is untrue that the Germans arc at Dijon. These revelations have had an upsetting influence, and have convinced the many optimistic that the Germans will have a hard fight to win. Things had reached this state before the refugees came pouring from East Prussia. Their appearance caused positive consternation. It is estimated that tile German losses in East Prussia by reason of the German invasion have already reached £15,000,000, most of wheh is sustained by the junkers, who are all-powerful there. This is likely to have considerable bearing on the future of the war, for the junkers have a large voice in the conduct of affairs, and their enthusiasm for war has diminished visibly since the Russians started advancing in earnest. There is no moratorium in Germany, and the result is that the smaller shopkeep-

ers are completely ruined already chiefly owing to the wholesale collapse of the smaller and purely local banks, and the closing down of 80 per cent, of the provincial branches of all the large credit banks. No one has any money hecause of this, while credit has entirely disappeared. Those who saw what was coming, or who had time to save anything out of the wreck sent all their monies and securities to Switzerland—or, that is, as much as they dared, for through the income tax returns, the fit en 1 Hiithnriri'-s knew the exact understanding of everybody, and used the information to advantage to force subscriptions exacted for the national (defence loan. For this same operation every savings bank, friendly society, and such institutions were denuded of eTery pfennig of their reserves while, as already shown, private banking accounts were raided to the same extent.

York (says the Shipping Gazette,' Weekly Summary, of October 23). As far as can bo learned, German expcises are being paid through the mediu: of the New York bankers with B Hin affiliations, but no one will hazav.l a guess as to when the payments will eease. On one little German tramp steamer alone, the weekly wages amount to £SO, with a like sum for food. 'J ,is class of vessel in New. York is aire, ly up for sale, but there are few reasonable bids at a time when money is tight, freight scarce, and risks great. Naturally, the two big German companies can withstand a- long siege. The extensive offices of the two shipping concerns off Lower Broadway, New York, present a gloomy and deserted appearance, m striking contrast with former scenes of activity and cheerfulness. Empty chairs an£ closed desks meet the eye on every side, and a quietude, suggestive of rusticity and somnolence, pervades the atmosphere. From one of the few officials remaining in the offices of the Nbrdeuttscher-Lloyd Company, who consented to talk to me, I learned that both-the NorddeutscherLloyd and the Hamburg-lAmerika- Lines are prepared to sell offices, fixtures, tugs, piers, and every available asset in the country so long as they keep their palatial ships and support their crews until the end of the war. This official admitted, however, that the struggle wouji be a hard one, and estimated that if the war continues a year, his company will have paid out in America for wages, food, etc., some millions of dollars.