The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-31
THE EFFECT OF WAR ON BUSINESS.


There are many persons who, instead of
regarding war as THE last resort of kings. {"
| the ultimate means of righting great
wrong or vindicating the national honor re-
gard 1t as means of improving business.
In the war talk of the day one hears it
remarked very often that business is very
dull, trade is not what it should be- and
| war would make better times anyhow. The
| persons who make these remarks are very
apt in the next breath to denounce 1.-THE
money power the bankers, and brokers of
! Wall street, for using their influence to
prevent war. These views 90 not consist
If war would improve business moneyed
men. especially bankers. brokers and spec
ulators, would reap the greatest harvest
and If it is true that they are opposed to
war it must be because they believe it would
hurt instead of help business.
The effect of war on business varies ac-
| cording 10 conditions and circumstances.
| The effect of a foreign war would be very
different from that of domestic one, and
any war would affect different interests in
different ways. Our civil war revolutionized
vast sums disbursed by the government. the
interruption of production and the enor-
moss issues of paper money. The net re-
suit in general way was to put great
deal of money in circulation, restrict pro-
duction, increase prices and stimulate spec
uation. For the time being this seemed to
cause a great improveiu ent in business and
MANY DerSons made money very fast either
at the expense OF the government or of
their neighbors. But most of the fortunes
thus made had wings. and much of the
money made in speculations verified the eX-.
perience of gamblers-"easy come, easy 60"
A balancing of accounts would show that
in the outcome the civil war cost the coun-
try thousands of millions of dollars. A
temporary boom" in business obtained at
such a price is very costly.
A foreign war, especially a naval war,
would be very different. The principal ex-
pense of a war with Spain would be the
getting ready. There would be no such sums
expended for the equipment, transportation
and maintenance of troops as there were
in the civil war. Congress has already APP
propriated $50,O0O,OOO for the national de-
Tense. much of which has already been ex
pended in the purchase of ships of various
kinds, in strengthening our coast defenses,
etc. Probably $5O,OO0OOO more would be all
we should need to expend on those lines.
In war with Spain we would not have
need of large land force, and probably
it would not be in service three months.
There would be no new issue of bonds or
paper money by the government, and con-
sequently no imitation of the currency and
very little chance for speculation 1t is not
apparent how war with Spain could
stimulate or benefit business to any appre-
ciable extent, even artificialy or tenn
porarily.
The attempt to justify war on the ground
that it would benefit business is unpatriotic
and without foundation 1t is impair otic
because it would sacrifice thousands o. IS
and break up the legitimate pursuits OF the
government and people for the scr9 pun.
pose of enabling some people to AXE
money, and it is without foundation because
the benefits to business from war are arti-
fetal and short-lived. In reality, war is the
most destructive, wasteful and expensive
business in the world. Every life that is
sacrificed is lost to productive industry,
every gun that is fired shoots money into
the air, and every dollar that is paid to
officers soldiers and sailors comes out of
the pockets of producers. War is essential
ly waste. The apparent and temporary
stimulus 1t may give to business is far more
than counterbalanced by the great waste
of lives. money and energy, and the long
train of taxes it always leaves behind. The
only just grounds for 1t are the cause of
humanity or the defense of national rights
and honor. War can be justified on these
grounds, but not on the ground that it will
helm business.