Sept. 27.
The gravity of the situation in ized. results of the recent elections should not be read too closely in association with some of the battle-cries to which the contending parties gave tongue. In order to woo the elector the candidate, all the world over, eschews reservations and paints himself gaily in the most un-';|compromsing tint of the particular colour selected by him, Although therefore there is in the new Reichstag an unexpectedly large representation of two parties which have in common a profound contempt for parliamentary institutions and have, indeed, undertaken tq destroy the Chamber from it is more than likely that history in other countries Will repeat itself and the newly-installed lions, after the preli-minery. roar, will imitate the sucking-dove. The fact that except for this special form of iconoclastic ambition, the National Socialists and Communists have little in common may be a favourable influence on the side of the Chancellor, Dr. Bruening. He will require all his fortitude and not a little ingenuity in exercising the maxim "divide and rule" in order to hold his government together in face of this highly explosive opposition now sent to face him by the electorate. An unfortunate complication has undoubtedly arisen in the trial of the three young Reichswehr officers. It has plainly given an outlet for the further parade of dangerously chauvinist feelings which found congenial expression in the electioneering campaign. Nor has the intervention of Herr Frank Hitler—Lord—Rothermere's latest hero—tended to allay anxiety. Fortunately the National Socialist leader seems be aware of the danger of ing his hotheads too free a hand and therein perhaps lies the most hopeful feature of the situation, At the bottom the German nation is convinced of the great importance of rehabilitating the country's industrial organization. Since the Armistice the efforts made by Germany in this respect have been remarkable. They have received dramatic illustration in the successful flight of the Graf von Zeppelin, in the recapture of the blue riband of the Atlantic, in the recovery of German prominence in the dyeing trades and in the re-establishment of markets overseas. They bee further emphasized by the revival of German activity in the lighter side of life—in various fields ut sport and on the films. Although the balance of trade during. the present year has been alriost uniformly in favour of Germany, there having, since January, been steady -surplusra of exports over imports, there has been such a persistent shrinkage in imports that the reduced purchasing power of the people must be a serious factor in the struggle for recovery from the present economic depres-Feverishly successive Finance Ministers have endeavoured to find expedients. for balancing the national budgets. The process must entail definite hardships of an always unpopular kind—such as the reduction of wages and—therefore—a reduction in the standard of living.
This is where the National Socialists and the Communists have been able obviously to their appeal. They have probably ignored the patent fact that other nations are la precisely the same plight, although the circumstance may not yet be fully perceived, They have concentrated their energies on severe criticism of the Young Plan and angry abuse of the treaty of Versaiiles. On this latter subject a correspondent contributed a forceful letter to the "North-China Daily News" yesterday. Few would deny that the Treaty of Versailles is an instrument on which wisdom after the event could shower withering criticism. Yet talk of its revision cannot be lightly entertained. Germany above all must realize that on that point her views would be gravely suspect, however securely they might be founded on the basis of economic and political facts, Moreover in the midst of the clamour of the National Socialists there is to be detected an echo of the old German refusal to accept responsibility for the plain consequences of their own acions. Recognition of the impossibility of acting up to the full extent of some of the aspirations of the period immed-intely succeeding the Armistice, does not necessarily imply acceptance of the theory that Germany should be released altogether of the burden of reparations. The statesmen at the head of the German Govminent fully appreciate the imperative need for vindicating the national bona fides in this matter. It may safely be assumed that the bulk of the German nation are of the same mind, If therefore the present Reichstag should be a little hectic in certain of its moods, it is exceedingly unlikely that countenance will be given theories which must under confidence in the new Germany and, therefore, gravely prejudice the interests of trade, Nor can Germany be blind to the danger of adding to the present unsettlement of Europe. The messages to-day purport praise the possession by delegates to the League of Nations of a strong sense of humour. That quality and all that it comprises will be fully required by the League if it is safely to weather the storms which seem now to lie ahead.
On that account alone it is be hoped that the proceeding: of the Reichstag when it reas sembles will be conducted along lines of reasoned argument and will Lo devoid of rhetorical appeals to passion and intran= silence.
Text read from the printed page and cleaned; old type leaves the occasional error.