Denver labor bulletin., 1916-11-18
Economics and Cost of Great War

The theories of statisticians, political
economists and statesmen generally re-
garding the economics behind the fight
ing line and the possible duration OF a
great war, measured by the cost of hun
dreds of millions of dollars per diem to
the combatants, have gone glimmering
in the last year or SO. Regulations for
prophecy in these quarters have been
shattered beyond redemption Thus, if
the daily cost OF the European war had
been presented in advance to a sympos-
SUM Of such experts, the decision would
have been that the war must end in
six months or at the most nine months,
because of the financial exhaustion"
OF the powers at war. But after TWEEN
ty-seven months the end is not in sight.
Regarding the expense of this war,
its manner of being financed and the
borrowings of the nations, principally
from this country, and the stupendous
effect these matters will have upon the
United States, present and future, an
unusually interesting pamphlet has been
issued by the Mechanics and Metals Ma
tional bank of New York. 1t makes
figures interesting reading and it sets
dull intellect to thinking of wars
meaning to individual and race groups
and at the same time it presents the
frightfulness of the conflict in a new
light from the contemporary writer on
the progress of the war. We quote
freely from its pages for what follows:
Only by comparison can the present
conflict he Cauged. Following is a ia
bic of the approximate cost OF the most
notable struggles of modern history, the
amount given for the present war, as
Stunning that it has come TO an end by
August /, 1917:
Napoleonic wars, l703-lsl5 Sc $50. .OO0, 900
American Civil, ls6l-64 5000. .cco. 900
Franco Prussian, 1901 . 5000. .Oco. 900
South African, 10000 5000. 900
Russo-Japanese, le04-05 $500, ,O1o. 900
European, l9l4-l7. rs 900. 600 600
The military cost indicated for the
present war is three times as great as
that Of all the other war combined. The
cost Of the war, If it goes to next year,
VIII represent a sum twice as large as
the total Indebtedness oi every nation
in the world as that debt stood in 1914
But the military cost is not all. There
must be considered the outright destruc-
tion Of cities, railways, ships, factories
and agricultural lands and crops. de-
struction that for given months would
require figures Of furtha- thousands of
millions. And above all there i the loss
MANNED and destroyed Further there
is to be included the los Of the product
which 25.nOO,oO soldier would have
created had they not been engaged in
destruction. There is also the real
economic loss on account OF the aggre-
"a tion Of suffering and misery in Bel
gium, Poland. Serbia and Armenia.
The effect OF this tremendous loss and
shrinkaCe is of direct concern to this
country and to all civilization The wal
is Of vital Importance to the United
States, as pointed out by the well in.
formed writer of the pamphlet, for these
rea sons:
The degree of strain that is i'm
posed upon the resources OF each of the
combatants.
2-The possible permanent effect upon
the worlds price OF capital
3.-The opportunity Offered for ia.
vorable investment of American capital
in foreign securities