The death of Herr Helfferich, who was killed in the
Swiss railway accident at Bellinzona on Thursday, April 24th, may have an important effect on German politics, and so on the chances of European recovery. Helfferich was perhaps best known in this country as the Finance Minister primarily responsible for Germany's monetary policy during the War, but since the War his influence in Germany has been a strong and a growing one. He had a period of power a year ago when he was the force behind passive resistance. Lately, however, he had been moving further and further towards the Right, and just before his death had published a bitter attack on the Experts' Report. His last journey was 'made in order to launch the Nationalist election. cam- 'paign with the principal object of rejecting the Experts' Report. All through his career, Helfferich seems to have been utterly reckless of consequences, if his ultra- Nationalist views could prevail. It is impossible to be sorry that the influence of such a man has been removed from European politics. Indeed, his death may be said in some measure to balance the greatest loss which Germany, and perhaps Europe, has suffered since the .War —the assassination of Walther Rathenau.