Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-09-11
COST or THE WAR.

i, Is estimated that the first month
II the European war cost the coun-
tries nehting nearly two billion dol
lars IN cash. 20 say notnlnE Of the
time lost from work IN field and fac
tory and mine. Also the hundreds Of
millions destroyed by the military
operations arc not considered.
when one reads in connection with
this the prediction from England tina;
the war may last three years. he
wonders whore the money Is coming
from to meet the bills and how the
generations OF the future are going
10 pay the bond issues that must be
resoried to.
on August fih. before Great Brit
ain declared war. the house Of COM
mons required only i've minutes TO
appropriate s5ss.ouo. 900. This was
followed Two days later by half bill
lion dollars more. Canada comes for
ward with contribution Of $4,000
900. Australia II taxing herself for a
similar sum and New Zealand has
appropriated 2S.eee.eoo. The princes
Of India are nov RAISING among them
about sss.ooo.ooo in addition TO the
sums contributed hy the imperial In
dian government
France announced war fund Of
t7ke.coe. eoo and has decided 20 Is
sue bonds for as much more. Before
The war began the French national
debt was above $4,000. 600. ono. quite
percentage Of which wis from the
Napoieonlc wars Of hundred years
ago. and 81 900. aoo.eoo Of II from the
Franco Pfussian war.
The German parliament. without a
dissenting vote. handed the kaiser
si,sso. oeo.o 900. As 70 the expenditures
by Russia. Austria, scrvla. Montcne-
gro and Japan. We have seen no cstl-
mates. The millions put into the war
by the nelelans has not been rcck-
oned. nor the cost Of tho notifications
u the Armies OF switzerland, iiol.
land. Turkey. Italy. Greece. Rumania
and Bulgaria.
II is safe 70 gueaa that the total
cost Of the war IL all nations. when
figured on the basis OF the taxpayer
and the losses 10 commerce and IN
dustry. il probably az this moment
above $40. ooc. 600. ooo--twenty times
the national debt Of the United
States
The iive great central European
banks apparently for several years
were getting ready for the caiastro-
phe. Before the war commenced,
they held nearly ss.ooo.e0o.oOu IN
sold ana silver. of which ssi7.Oop,eaa
was IN the Rank Of England.
sgSS .eoe. 600 IN the Bank Of France.
stso.ae 900 IN the Bank % Germany,
ssos.beoo. GOO Ia tho Bank Of Austria
and more than ssoo.ooo.oeo in the
Bank Of Russia
The hundreds If millions IN the
savinea banks of siermany. and prob
ably in the savings hanks 81 the
other nations except Great Britain,
have been Communicated by the gov
ernmenls for the expenses OF the
war. In Great Britain the savings ge
generally toward taking up OF gov
ernmeut bonds made necessary hs
the war
Before the end uf the fret iwelve
months q this struggle. the United
States will have nearly all Of the gold
aud tie silver Of the world. Intcrna-
tloual ohigailons can be settled onls
with metallic money. Bank notes
even treasury notes have no value
acrcss boundary. lines The lnterna-
tional money must come here % pas
for food and manufactures purchased
from this country II the war should
last three years. the United State
WIN be the unanestloned money cen
ter IL the world fer long time