Loading ...INTRODUCTION
The results I have reached by my observations and inquiries made, and from the study of the material placed before me, cannot, in consequence of the inadequateness of this material, lay claim to being fully scientific, but the present investigation may so far claim a scientific character, that I have endeavored by its means merely objectively to obtain a reply to the question: “What is the truth?” As everybody knows, the world is divided into two warring camps, engaged in a combat for life and death, and, even in neutral countries, people have become hot partisans of one or the other of the groups of nations. Under such circumstances it is not easy to remain perfectly neutral and it may be doubted whether any one is altogether able to attain such a position. But the task is much easier, and, I consider, quite possible, if we restrict ourselves to a sphere from which we can eliminate all spiritual questions, and confine ourselves to a statement of the actual condition of things. This has been my task. I have not had to express any opinion as to what has been done, or as to what result the war should have, or as to any of those questions which, at the present moment, create prejudice and enmity among men. I have merely had to seek for a reply to the questions : ” What is the present economic and financial position of Germany? Can Germany, assuming that the military position remains unchanged, hold out economically, and for what length of time ? ” I am fully conscious that in this matter I occupy the same position as a witness called before a court of justice, to give evidence as an expert. I now give such evidence, making all reservation for what may be defective in my capacity as an observer, well knowing how insufficient my ability is for the purpose of investigation but I give it with the assurance that I have endeavored to present the most objective view possible of the reality.
It would, of course, be most unsuitable to mention here any names to support my statements in one case or another. As I said before, I have had opportunities of enjoying lengthy conversations with the most prominent authorities in the various fields covered by my investigation, but the report that follows is not intended to give any account of such conversations. What I have to do in these pages is to state the impression I received from them, and from other sources, including my own observations.
In order to deal with the matter in hand, the most suitable plan is, I consider, to begin with an analysis of the present position of the domestic economy of the German nation, i.e., with an examination of the resources at the disposal of German production, and of the degree to which this production is able to satisfy the wants of the population. I shall then pass on to an investigation of the problem from a monetary point of view, giving first an account of the influence of the war on the monetary system itself and proceeding, finally, to deal with the financial problems created by the present conflict.
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