Jasper County Democrat, Volume 21, Number 96, Rensselaer, Jasper County, 1 March 1919 — German Coal Will Help Pay Huge War Indemnity Demanded by Allies [ARTICLE]

German Coal Will Help Pay Huge War Indemnity Demanded by Allies

By JOHN J. ARNOLD.

Chicago Banker

Germany can probably pay an indemnity of $3,500,000,000 -annually. But if the financial demands of the victors in the war are too heavy they will result in Germany’s ruin and the spread of anarchy throughout that country and eventually over a still greater part of Europe. In estimating Germany’s wealth I find that the question of her raw materials, with which she is abundantly supplied, is not taken into consideration by those who discuss this subject. Thef base their estimates all on the developed wealth of the country, which is far less than the value of its undeveloped resources. Let us take, for example, Germany s coa supplv. This is estimated to be around 409,000,000,000 tons, while France has only about 17,000,000,000 tons. Of this total Germany may lose 20 per cent through the taking of Alsace-Lorraine by France. She may lose some coal deposits on'the left bank of the Ehine also, but assume that she will have left 300,000,000,000 tons in her mines and place a conservative estimate of $1 a ton on this and you will begin to get some idea of the value of the country’s great natural resources. This one item ' amounts to $300,000,000,000. Suppose the allies should decide to take one-fourth of this coal supply of Germany and apply it on their bill for damages. This would reduce their claims by more than $72,000,000,000. The nation which has a big supply of coal is bound to be a great industrial nation, because coal is the basis of all industrial development. The biggest coal fields of Germany are in Westphalia. France and the rest of continental Europe would be much better off in the long run if Germany were called upon to give up a part of her Westphalian coal fields. And what applies to her coal supply applies as well to her potash industry.