Although French pressure upon Germany has had the usual, the
historic, effect of uniting factions which if left to themselves would never have found common cause, and although Dr. Stresemann's Government has consequently acquired a certain appearance of strength which at one time seemed impossible, it must not be supposed that Germany is saved from the danger of a crash. The danger in its new phase is much more economic than political. The German Government could no longer pay the Ruhr workers for not working, but the industrial employers cannot pay for the work . that would now be done if there were money for wages. Hence the announcement by the employers that they must close down the factories. In these circumstances of universal helplessness there is something like a race between the German Government and the Ruhr magnates to get control of the next situation.
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