"Crass and Indefensible!"

Foreign investors who have kept on hoping that Germany will repay at least her "private debts" ($1,000,000,000) in money of some sort, were rudely shaken when a blunt electioneering speech was barked by Chancellor Franz von Papen last week to plump, approving Westphalian industrialists at Paderborn.

"Our creditors abroad," shouted the Chancellor in tones recalling his military rank of oberstleutnant, "can reckon on repayment . . . only if they are prepared to take German commodities in payment, and this presupposes that they are willing to open their trade frontiers to our goods!''

Turning to the bales of new Ottawa Tariffs released last week, the German Chancellor said that he was "disappointed'" by this action of the British. "To expect repayment of debts while confronting us with trade barriers," he cried, "suggests both crass and indefensible violation of all economic logic!"

At Munich, earlier in the week, aristocratic Chancellor von Papen, no baby-kisser, made himself solid by devouring publicly a huge plateful of the ancient city's long, white sausages and washing them down with frothing Muenchner. He then launched into a fighting speech, shouted that other powers must at once grant to Germany the right of "armament equality" with themselves. Finally he drew thunderous Munich cheers by asking, ''How can our commerce nourish, if Germany does not enjoy the same respect abroad as other nations? Who will invest in a land which is constantly threatened by foreign invasions?"

The answers are that the U. S. citizens, Britons and even Frenchmen invested their billions in Germany because the world's best brains agree that the Fatherland was not and is not now threatened by invasion.

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