23 JUNE 1923, Page 1
Meanwhile, the signs of disintegration in Germany become more alarming.
On Monday the mark plunged downwards by 200,000. Finance in Germany is, indeed, very nearly beyond control, and the danger is that the whole social and political fabric will also become beyond control in the near future. Those who believe that Germany waves a wand over the mark, and makes it plunge hither and thither in order to bluff the French, display a credulity which we confess is utterly beyond our own compass. It seems to us certain that Germany is desperate, alarmed, and already almost helpless. She has offered to mortgage herself up to the eyes in order to pay Reparations, and the offer seems to every country, except France, to be a good enough basis for the long delayed settlement.
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