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Stanhope, Aubrey (ed.) / The continental times. Supplement: The exchange of notes between Austria-Hungary and the United States
Nr. 1238. Vol. XXII. Nr. 96 (February 11, 1916)

The continental times: Nr. 1238, Vol. XXII, Nr. 96, February 11, 1916,   pp. [1]-4

Page [1]

Nr. 1238. Vol. X
Fine Sittion In Large Park.
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3RUARY 11, 1916.
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Grand Hotel Royal
managing Director: IliLs Truismo
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SUBSCRIPTION: Holland,. . 70uiden Austria  . KronenIermny Marksorsmonth  NewYork Stockholm Rotterdam Lpcerne Berlin Vienna Zurich.  PRICE: scents. 25centlmes. 2oPt.
Our Special Cartoon by "Cay"    page 1
German Finances Defended    ..   ,, 1-
Tzar Ferdinand at Head Quarters ,, 1
Speeches of the Monarchs     .   ,, 1
The Albanian Campaign        .   ,, 1
Essad Going to Corfu. .     . ..,, 1
England Short of Ships..    . .,, I
A Very Important Question    .   ,, 2
The Biter fit.   . . . . . ..    ,, 2
"Lusitania Question" Favorable   ,, 2
Austro-Hungarian News .     .  ,, 2
Armed Merchantmen beware!        ,, 2
Misleading the Public  .  . . ..,, 2
The German Theatre.....        ,, 3
Special Financial and Commercial ,, 4
The Duma Called.
Peterburg, Thursday. By Imperial Ukase, the
Duma has been summoned for the 22nd of
Salandra Cabinet Shaken
Lugano, Thursday. The Secolo writes that in
Turin it is understood that Salandra wishes to
re-constitute his cabinet.
Besnard Retires
Paris, Thursday. As a consequence of the
last Zeppelin visit over Paris, M. Besnard, the
much attacked minister of Aircraftsfhas resigned.
Forno Occupied.
Paris, Thursday. It is announced that theIs-
land of Forno, north of Corfu, has been oc-
cupied by the French troops.
The First Train
Copenhagen, Thursday. The first passenger
train between Petersburg and Sorozkajabucht,
which connects the capital directly with the
White Sea, has started yesterday.
Consuls Recalled.
Sofia, Thursday. Owing to existing military
conditions it has been thought advisable to
withdraw the Greek and Roumanian Consuls
from Monastir.
Against Conscription
London, Thursday. The Union of Miners,
which had held aloof from the Working Men's
Association in its opposition to Conscription,
now comes out against forced military service.
Essad Pasha's Request
Geneva, Thursday. According to an Athens
despatch, Essad Pasha has made inquiry as to
whether, in case it should become necessary,
he would be allowed to transfer his troops to
The Roman Catholic Albanians
Bern, Thursday. The powerful Mallisore tribe
of Albanians, who are by religion Roman Catho-
lics, have attached themselves to the Austro-
Hungarian forces and are acting in the capacity
of advance guard in the march upon Durazzo.
Morgan's Journey
New York, Thursday. Mr. Pierpont Morgan
has started for Europe with the purpose of
negociating a French loan of 250 millions of
Dollars. Security will be given in the form of
American bonds.
Zeppelin Damages
Amsterdam, Thursday. It would appear that
the greatest damage done during the last
Zeppelin raid over England was at Birmingham
where nine large factories and 31 houses were
Lieutenant Berg.
New York. Thursday. Lieutenant Berg of the
"Appam" has requested that he be allowed to
remain in Norfolk without being interned. He
says that he is able to continue the journey
aboard the "Appam."
Essad for Corfu
Athens, Thursday.  According to news re-
ceived Essad Pasha and his army, said to be
20,000 men, are expected in Corfu. The number
of Servians in Corfu are stated to be 80,000,
but largely composed of refugees who are in
the most terrible condition and utterly exhausted.
The Albanian Campaign.
Paris, Thursday. The Bulgarians have reached
Tirana on their march to Durazzo. The Italians
have concentrated 40,000 troops at Valona and
intend to make as strong a resistance as poss-
ible there. The Austro-Hungarian aeroplanists
are very active over Durazzo and have dropped
bombs in the camp of Essad Pasha and amongst
the shipping lying in the harbor.
England's greatest Needs.
London, Thursday. In a speech at Manchester,
Mr. Runciman said that the greatest trouble
that Great Britain had known throughout the
war had been the lack of ships for transport
purposes. The Admiralty had more than ten
thousand merchant ships at its disposal for
military purposes and thousands more were
wanted. The trouble was further increased by
the demands of the allies of England.
"lhe Nelson Touch"-Revised
I . ,IIl.................  ............... i,  _ .  .....
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It I
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The Bishop of London (to the heroic
stands solid behind you. The Germans hav
speech at Stoke Newington.)
crews of the "Baralong" and "King Stephen": "England
e killed all chivalry in this war," (Extract from
Drawn for ike C. T. by the famous cartoonist A. M. CAY.
British and German                       inancial Comparisons
State Secretary of the Treasury Doctor Helfferich  Takes Up The Challenge of
Sir Edward Holden And Asks Some Counter Questions. False Reports
About Germany Which Serve in Place of the Truth in England.
British People Pay Double a much Per Capita as Teutons.
It was an unfortunate day for Sir Edward  are the chief questios, answers and counter  Counter-question. Can it be unknown to Sir
Holden, Managing Director of the City and  questions.  Edward Holden that England's imports dur-
Midland Bank of London, when he under-
took to make attacks upon the conditions
of German finances, for he has been taken
to book by Doctor Helfferich, the State
Secretary of the Treasury who completely
demolishes the rash utterances of the English-
man who had set himself to ask a number
of leading questions regarding the latest
speech of Doctor Helfferich in the Reichstag,
with the object of showing that the state-
ments then made were wrong and mislead-
ing throughout.
The questions asked by Sir Edward Holden,
and which were evidently intended to be of
a crushingly damaging nature, have been taken
in the English press as being weighty and
showing that the optimistic speech of Doctor
Helfferich was based upon false arguments.
The State Secretary of the Treasury however
not only answers the questions asked by Sir
Edward, in clear, succinct and convincing
manner, showing that every word he said
in his Reichstag speech was fully justified,
but further he utterly breaks down the pos-
ition taken up by Sir Edward Holden, with
a series of counter-questions which reflect
sadly upon the financial stability and resources
of Great Britain and show up some of the
principal fallacies and bluffs whereby it is
sought to mislead the English in particular
and the world in general into believing that
all is right in the financial position in Great
Britain when all is wrong. The following
Question 1. Had Germany Credits abroad
at the time of the outbreak of the war, do
they still exist or have they entirely dis-
Reply. Germany went to war having credits
abroad, just the same as England. That
milliards of such credits still exist, Sir
Edwird Holden can well ascertain, they
having been unlawfully placed under com-
pulsory supervision in England and its
Counter-question. Where are all the Eng-
lish Credits which were outstanding abroad
at the commencement of the war? Must
one not imagine them to have become ex-
hausted, seeing that at the meeting at which
Sir Edward spoke he bore witness to the
decline in the exchange upon the sovereign,
which would have fallen still further had
England not received a loan from America?
Question 2. Has not the export trade of
Germany sunk heavily aud thereby a blow
been struck at the financial standing of the
Reply. Yes! The- exports of Germany
have fallen much, but the imports of Ger-
many-thanks to the illegal measures of Eng-
land-have likewise fallen. The imports will
voluntarily be further restricted, and in that
manner the needful balance is made with
the exports.
ing the war have enormously increased, its
exports on the other hand vastly decreased,
by half, and that in consequence of that
England finds itself in a far more difficult
position than Germany to be able to finance
its imports?
They Are Not Exhausted.
Question 3. Admitted that the credits of
Germany abroad are exhausted and the ex-
ports reduced, is it not a fact that Germany
has sold almost all its American, Swiss,
Dutch, Scandinavian and even Russian
Answer. Germany has naturally utilised
its possessions of foreign secnrities, which
had been accumulated as reserves in view of
possible hard times, for the purpose of pay-
ments to foreign countries. But the German
holdings of foreign securities are not at all
exhausted; on the contrary their sales con-
tinue upon a large scale, a fact of which
England must have knowledge in examining
the contents of its recent robberies of mail
Connter-question. Is it not known to Sir
Edward Holden that England has been com-
pelled to pay the major portion of her im-
ports in foreign securities and quite especially
in American bonds, and that it has even
been necessary for England to take this
matter of the American securities into its
own hands, and that Sir Edward in his
(Continuied on Page 2.)
XI. Nr. 96.                                  FRIDAY, FEE
Tzar FeTdinand
At Head Quarters
Upon the Invitation of the Emperor
William, Tzar Ferdinand of Bulgaria
is at Staff Head Quarters of the
German Army, on a Visit
Which it is Stated Will
Last a Few Days.
In the political world the highest im-
portance is attached to the announced visit
of Tzar Ferdinand to Kaiser Wilhelm at the
Staff Head Quarters of the German army.
That the meeting is intended to be taken
as of the greatest significance, is demonstrated
by the fact that the Emperor has summoned
the Imperial Chancellor and Secretary of
State von Jagow to attend; whilst on the
other hand Tzar Ferdinand is accompanied
by his Prime Minister, M. Radoslawow, and
the head of the . Bulgarian Army General
All the German newspapers agree that the
meeting of the Emperor of Germany and
Tzar Ferdinand, just at the present moment
and under existing circumstances, must be
regarded as a political event of :the first
order, one which it is hoped may havefar-
reaching results.
Tzar Ferdinand has earned for himself the
reputation of being an exceedingly far-see-
ing and clever Monarch, who has known
how to control and guide his people with
great dexterity in times most difficult and
under circumstances which made his path
as ruler so full of troubles, that from time
to time it looked very doubtful as to
whether he would be able to pull through
at all.
In spite of inducements,'T and later on of
open threats, Tzar Ferdinand steadfastly re-
fused to be drawn into the net set for him
by the Entente Powers. It is not too much
to say, that the wise decision of King Fer-
dinand, to side with the Central Powers,
had a quite powerful influence upon the
course of the Great Campaign, and his ser-
vices are thoroughly recognised. In his own
interests and those of his country, in joining
the Central Powers, Tzar Ferdinand followed
the one course which was destined to wipe
out effectually the results of the never to
be forgotten treachery of Bulgaria's former
ally, the Servian nation.
Kaiser Greets
Bulgarian's King
In honor of the arrival of Tzar Ferdinand,
a Banquet was given at Staff Head Quarters
a truly most brilliant gathering, at which,
besides the two Monarchs, there were present
the leading Politicians and Military men
of Germany and Bulgaria, all in uniform,
forming a quite unique scene.
The Kaiser rose and spoke the following
toast to his distinguished guest:
"I welcome Your Majesty on German soil
in my own name and that of my army and
people. just as the meeting on the blood
contested ground of Nisch will forever
remain unforgotten in the annals of the
history of Germany and Bulgaria, as the
visible evidence of a true brotherly unity
in Arms, so likewise I see in this visit of
Your Majesty this day a symbol of the unity
of our Realms. That unity has not been
brought about merely by political and
commercial interests. It is built upon oft
repeated cordial expressions of sympathy re-
spect and confidence, a confidence which has
been sealed with the blood shed by the sns of
both countries in a joint contest for the one
ideal. May it be granted to the Bulgarian
people, under the wise and farseeing leader-
ship of Your Majesty, to powerfully develop
the acquired territory so that its present
and the future may be guaranteed. I raise
my glass to the welfare of the victorious
Bulgarian army, to the proud Bulgarian
people and to its illustrious leader. To
His Majesty the Tzar of the Bulgarians,
Tzar Ferdinand's toast.
To wiich Tzar Ferdinand replied:
"It was with sincere pleasure that I made
the journey hither, in order once more to
personally thank Your Majesty for having
conferred npon me the Fieldmarshal Staff.
Deeply moved by the gracious and all
significant words in which Your Majesty
deigned to address me it has been a quite
special satisfaction to me to be able here
(Coninued on Page 2.

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