The French Yellow Book, Dr. Stresemann went on, had asserted
that the real wealth of Germany had not been disturbed, but all such statements were an exaggeration. Profits were often ridiculously small. For example, the last dividend of the Deutsche Bank did not equal the price of a ticket on the Berlin tramways. He did not deny that there were latent possibilities in German industry, but as the principle of guarantees was not in dispute, all the Allies had to do was to find a way to make the German pledges fruitful. Dr. Stresemann's speech has been very favourably received in Germany. He seems to mean business in his efforts to purge away the present help- lessness and hopelessness of German finance. We quite agree that Germany's Memorandum deserves an answer. We should like to see a British answer sent at once.
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