National Wealth

The Bankers Trust Co., Manhattan, has estimated that the total national wealth of Germany today is about $55,000,000,000. Dr. Karl Helfferich, famed German financier who was recently killed in a railway accident (TIME, Apr. 28), placed the national wealth of pre-War Germany at $73,780,000,000. Sir Josiah Stamp, British statistician, de- clared in 1919 that Dr. Helfferich had overlooked several items and he computed the pre-War Teutonic wealth at $80,500,000,000. Shortly before his death, however, Dr. Helfferich. made an estimate of Germany's post-War wealth. He thought that his Fatherland was worth only $47,600,000,000 and reduced the figure by $11,900,000,000 on account of "diminished productivity," making the total $35,700,000,000.

The Bankers Trust said in support of its $55,000,000,000 estimate:

"This figure was arrived at by making allowance for territorial losses imposed by the Versailles Treaty, the fact being kept in mind that, while some of this territory was agricultural and not highly productive, yet the loss of Al-sace-Lorraine carried with it very large resources of iron ore and potash and industrial works of considerable magnitude, while the occupation of the Saar Basin had deprived Germany of extensive coal deposits.

"The fact also was taken into consideration that in losing part of Silesia Germany lost many industrial plants and large iron and zinc deposits, and 42 1/2% of all German coal lying within 500 yards of the surface. Allowance was made also for the depreciation in buildings and structures and the decreased productivity of agricultural lands."