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Updated: May 10, 2025
It is high time for us to have peace that the King and Council may get up their credits and have time to do it, for that indeed is the bottom of all our misery, that nobody have any so good opinion of the King and his Council and their advice as to lend money or venture their persons, or estates, or pains upon people that they know cannot thrive with all that we can do, but either by their corruption or negligence must be undone.
The payments in specie consist of metal money, of Germany's credits, public and private, abroad, and of a first charge on all the effects and resources of the Empire and the German States. The Reparations Commission, charged with seeing to the execution of this clause, shall have powers of control and decision. It will be a commission for Germany's debt with wider powers.
Report credits him with this method, which it is possible he believes to be an advance on the laborious process of drawing from Nature, to which, in the absence of the ingenious instrument, the Old Masters were perforce obliged to resort. It will be said that what matter how the artists work that it is with the result, not the method, with which we are concerned.
We have a poetic literature of marvelous richness. Only the Germans can lay claim to a lyric wealth as great as ours. The language we inherit is an extraordinarily rich one. A German authority credits it with a vocabulary three times as large as that of France, the poorest, in number of words, of all the great languages.
He won't be there, he thought; he won't be there. Hawkes took a wad of bills from his wallet. "Here's two hundred credits for you to use at the tables while you're looking around. I'll have to wait outside. There'd be a royal uproar if a Class A man ever set foot inside a place like the Atlas." Alan smiled nervously.
Can, then, Germany, who is in a terrible condition, whose circulation promises ruin, who has no longer credits nor organization abroad, who has a great shortage in raw materials; can Germany pay four or five milliards a year?
To German customers and those Italians who imported German goods, the Banca Commerciale allowed long credits and easy means of payment. To all who were in need of implements, machinery, or materials for a new enterprise, the bank "recommended" German houses, and those who were wise construed the "recommendation" as an ultimatum.
Consternation and uneasiness very evidently increased among most of the spectators as the fruitless examination proceeded; and when the notary ended, declaring that no will was to be found, nor any evidence of credits, every eye was fastened on me as if I were suspected of stealing that which in the order of nature was likely to be my own without the necessity of crime.
At night when the expeditions return, the camp resumes its animation. Adventures are recounted, every statement of the narrator being disputed and argued. Everybody has become an adept in woodcraft; but nobody credits his neighbor with like instinct. Society getting resolved into its elements, confidence is gone. Whilst the hilarious party are at supper, a drop or two of rain falls.
No other nation has ever existed which could have endured such violent expansions and contractions of paper credits without lasting injury; yet the buoyancy of youth, the energies of our population, and the spirit which never quails before difficulties will enable us soon to recover from our present financial embarrassments, and may even occasion us speedily to forget the lesson which they have taught.
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