The Benson signal., 1916-06-03
the EUROPEAN WAR AND The RFMONFTI-
zATI0N OF SILVER


show steady upward tendency Experts think the metal will
dollar thus old gold of
The expenditure of money and the creation of
debts by the European bellgerents, up to the first
day of January of the present year. is so immense
SO colossal, that the world stands aghast when it
views the sum SO used, viz; So 1874 800, 900. This
however, only represents the actual cost of the war
for approximately five months and to which, this
being the month of February, there can be added
the sum of 81, $50, 100000, covering the war toll
for January; resulting in grand total of $8,274,-
100000.
On this basis therefore, should the war last one
year. it would cost the stupendous sum of S16,-
67o 10000. In this sum are not included the
economic losses of the warning countries, nor the
damage done to property in the various military
zones. No reliable estimates of the property losses
in Belgium, East Prussia Russian and German
Poland, Gacia, Servia, Bosnia Asace- Lorraine and
Eastern France have SO far been obainable; but it
is reasonable to suppose that they will run far be-
yond the billion mark at the present time and as
the war is prolonged, these losses Will be greatly
increased.
With this enormous waste of money and i'm
mense destruction of property there can be but one
result-mpoveriShment, in whole or in part of one
or all of the nations involved In this Marsian
catastrophe must also be considered the mobiliza-
ton expenditures of Holland, Denmark, Sweden,
Norway Switzerland, Italy, Spain Portugal Rou-
mania and Bulgaria, the cost of the Turkish oper-
atons losses in naval craft, deterioration in war
materials and the economic losses due to general
disturbance of the commerce of the world.
AS in most all wars OF which we have his
torical knowledge, their conclusion is usually
brought about through the payment of an ndem-
nifty by the vanqushed to the VICTOR and Therefore
it is reasonable to suppose that the termination of
this conflict will be accompanied by the imposition
OF this compensatory demand, unless the result of
the war should place the bellgerens in such posi-
ton, that neither party could overcome the other
or reap any benefits from continuance OF the
struggle.
But should there be a loser in this war. and
there is now no assurance that there will not be,
then the amount of the indemnity becomes of vital
Importance in arriving at and computing the actual
losses sustained by the nation or nations upon
which it is imposed
The huge expense under which these countries
are laboring in furtheing and maintaining their mill
tary and naval offensive, leads to the deduction
that the amount of an indemnity, which may be
exacted in this instance, will mount into the bill
lions of dollars.
And then, with what will all these losses,
arising out of this great war, be paid? The answer
will readily be- Gold because all of the countries at
war and those which are greatly affected by it are
gold standard nations. But if peace were to be con-
cluded today and the time of reckoning at hand,
whence would come the gold?
If every neutral nationality were to pour its
entire holdings of the yellow money-metal into
Europe it would fall far short of relieving the tnan
cial situation. Europe, including Russia, had ap-
proxmatey s. SOC, 900, 900 in gold coin and bullion
at the commencement of the war, and the United
States 81 900 OOO 900, this being virtually the tang
ible gold supply of the world
This country could not send all or the greater
part of it's gold to Europe for the reason that it
would leave US without sufficient medium of eX-
change, thereby causing financial blight and prop
ertv loss from which it would take us years to re-
cover.
Paper currency could be issued by the various
warrng nations, but if it were not secured by and