I believe that at this moment
Germany regards Belgium as a new but integral part of the German
Empire, and that she wishes to see this new waste land of hers
productive. Assuredly Germany has made a serious effort to reorganise
and open again some of the great Belgian factories that are now idle.
In one instance that I know of a manufacturer was offered a large
guarantee to come back and put his factory into operation again. He
refused, although he knew that it spelled ruin. The Germans, unable
themselves at this time to put skilled labour in his mill, sent its
great machines by railroad back into Germany. I have been told that
this has happened in a number of instances. Certainly it sounds
entirely probable.
The factory owner in question is in America at the time I am writing
this, obtaining credit and new machines against the time of the
retirement of the German Army.
From the tax the conversation went on to the finances of Belgium. I
learned that the British Government, through the Bank of England, is
guaranteeing the payment of the Belgian war indemnity to Germany! The
war indemnity is over nineteen million pounds, or approximately
ninety-six millions of dollars. Of this the Belgian authorities are
instructed to pay over nine million dollars each month.
The Societe Generale de Belgique has been obliged by the German
Government to accept the power of issuing notes, on a strict
understanding that it must guarantee the note issue on the gold
reserve and foreign bill book, which is at present deposited in the
Bank of England at London.
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