THE American reader will think that the problem of colonial possessions for Germany is no concern of his. For that reason I should like to refer to two points which are of importance from an American standpoint in the solution of this problem. First of all, I do not believe that the world economy can enjoy lasting prosperity without Germany's participation. If Germany were isolated, one might say that the world could survive the loss of a market of some seventy million people, that seventy million consumers, more or less, make very little difference to the world at large. But no such isolation of Germany is possible because the whole of Eastern Europe simply cannot dispense with the German market.
The Eastern European countries are predominantly agrarian. For them the German market is a matter of life and death. At the present time Germany receives some 14 percent of the exports of Poland, 16 percent of those of Czechoslovakia, 17 percent of those of Austria, 30 percent of those of Hungary, 49 percent of those of Bulgaria, 20 percent of those of Rumania, 36 percent of those of Jugoslavia, 45 percent of those of Greece and 64 percent of those of Turkey. Consequently, the disappearance of Germany from the world market would have most unwelcome results for the whole of Eastern Europe. Nor is it of much less importance to the Scandinavian countries. No one must forget this importance of Germany, situated as she is in the heart of Europe, with her highly developed population and her high standard of living. European prosperity cannot be conceived of without German prosperity. And however much America may wish to stand aloof, there is not the slightest doubt that the ebb and flow of European prosperity is important to her.
The second reason why the United States cannot remain indifferent to the German colonial problem is moral. Even though the United States finally refused to ratify the Versailles Peace Treaty, it nevertheless was President Wilson who, by the proclamation of his Fourteen Points,
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