Even the children know that coin has not left them richer: many, very many Germans know the Kultur War to be ruinous: but Berlin must play the Game still, and assume that the tricks and aims cannot be understood! It is lack of regard for other nations carried into German Finance; and all because the bureaucratic military heart is a stone. The piling up of State paper goes on, but not merrily, as Michael goes from Darlehnkasse to Reichsbank, one, two, three (and is about to go the fourth time!). This game of processions to the Kasse does not increase the available wealth within beleaguered Germany: and the 100-mark Note has no reference to material wealth securing it. Now, the Commercial magnates of Germany realize the crushing fact--No indemnity possible!! and what of the Notes which are held? When shades of night fall heavily, and the Loan Game can be played no more, will the German people, tricked and impoverished, go to bed supperless and silent? German finance IS "a scrap of paper." W. M. J. WILLIAMS. [Illustration: WE DON'T UNDERSTAND THIS LOAN GAME In Germany there is a game by which children passing a coin from one to another are supposed to but do not get richer.] ----------------------------------------------------------------------- A WAR OF RAPINE True, O Liebknecht, it is indeed a war of rapine, engendered, planned, and brought about by the nation to which you belong. Yet, foul as is that nation, its foulness is not greater than your futility, by which you show up the strength of that which you oppose with as much effect as our own Snowden and Casement can claim for their efforts to arrest the work of the Allies. Men who claim British birth claim also the quality of loyalty, as a rule, and thus there can be little sympathy with such a one as this Liebknecht, whom Raemaekers shows as a little ascetic in the presence of the sombre War Lord. It is part of the plan of Nature that every country shall breed men like this: men who are constitutionally opposed to the current of affairs, ridiculously futile, blatantly noisy, the type of which extreme Socialists and Syndicalists are made. Possessed of a certain obstinacy which is almost akin to courage, they accomplish nothing, save to remain in the public eye. Such is Liebknecht, apostle of a creed that would save the world by the gospel of mediocrity, were human nature other than it is. But, in considering this Liebknecht, let us not forget that he has no more love for England, or for any of the Allies, than the giant whom he attempts so vainly to oppose: he is an apostle, not of peace, but of mere obstruction, perhaps well-meaning in his way, but as futile as the Crown Prince, and as ludicrous. E. CHARLES VIVIAN. [Illustration: LUTHER-LIEBKNECHT IN THE REICHSTAG