Five chapters from Morgenthau’s book, Germany is our Problem, here published with an introductory note by Ellopos. Emphasis, in bold or italic letters, by Ellopos. Complete book in print.
4. That Germany absorbed a relatively small amount of
Europe's (and the world's) exports.
5. That her suppliers will find even larger markets when the
industry of the Continent is better balanced than it can be under German
domination.
6. That Germany herself can achieve a fair level of
prosperity without heavy industry.
7. That removal of German heavy industry will help develop
the industries of other nations and result in a higher standard of living for
Europe, making her a better market for (and neighbor to) all the rest of the
world.
The advocates of a Germany strong in heavy industry usually
assert that such a menacing colossus is necessary to "European
economy" or at least to the maintenance of "economic equilibrium in
Europe." Actually there is no "European economy," certainly not
in the sense that there is a United States economy. Some thirty countries in
Europe have their separate economies, and a great variety of them, too. As for
"economic equilibrium in Europe," it has been upset a great deal more
than it has been stabilized by German industry and its overlords. In point of
fact, Germany never did supply Europe with very much iron and steel,
metallurgical products, chemicals or electrical equipment—the chief items to be
forbidden her. In her best years of exports, 1929 and 1937, she sold
$775,000,000 worth of these products to all the countries of Europe put together.
Europe's total imports (excluding Germany) were $13,100,000,000 in 1937 and
Germany supplied $1,600,000,000.
