The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1916-01-04
Survey Of Foreign and Domestic Field;
Staggering War Debts and Heavy
Taxes Stare Europe
in Face
U. S. GETS HALF
BILLION MORE GOLD
More Goods Sent Abroad Than Ever Before;
American Securities Soar; Not Single
Failure on Stock Ex-
change
BY ]. w. T. MASON.
Written for the United Press.


NEW YORK, Jan. As the close
OF 1915 the war has cost more than
twenty-six billion dollars, exceeding
by five hundred million the total ma
tiOnal debts of the six principal bellig-
erent powers when the conflict began.
With the exception OF about five hun
dred million raised in the United
Kingdom by taxation, practically all
the expenses Of the war have been
met by borrowed money. The end OF
1915 therefore, finds the fighting ma
tions saddled with double the delt
they had accumulated in all the cen
turies preceding the outbreak OF thu
war.
In the early days OF the war the
most liberal estimate Of its cost, in
Guiding the destruction Of property
and the economic losses caused by
casualties, was fifty million dollars
per day The actual expense now, ex-
elusive OF economic and property
losses, As eighty-fsye million per day.
OF this amount the Quadruple Entente
Is paying two-thirds and the Teutonic
Allies one-third. II the war continues
through the winter the cost win prob
ably rise to a hundred million per day.
The interest for war loans which the
war has already imposed on Europe's S
future generations is about a billion,
two hundred million per year. Every
week the war lasts fixes an additional
annual interest burden on the bellig-
erents Of twenty-five million.
Colossal taxation win have to be
imposed on the soldiers when they
return home after peace is declared.
The belligerents will be bowed be
meath the burdens OF the war debts.
The Germans for a time this year be
lieved It might be possible for them
to eyade their cost of the conflict by
compelling the Quadruple Entente
powers to pay a full indemnity. Dr.
HeIfferich. the German minister OF
finance made this statement in the
Reichstag last August. But as the
years fighting continued with con
stantly increasing expenditures, the
German government changed its mind
about the possibility of any belliger
cnt being able to escape from the
financial net. DR.. Helfferich there
fore. announced a fortnight ago tha
although Germany might collect al
Indemnity, yet the warswould impose
"a colossal burden" of new taxes OF
the Germans.
During the year, various British
statesmen uttered warnings concern
ing the financial outlook. And th'
possibility of bankruptcy overtakini
Europe has several times been men
toned in the house of lords. All tn'
belligerent governments have beeom
uneasy about the monetary outlook
but the system of running the war oil
borrowed money has prevented tn
people themselves from feeling tn
financial pinch. except in Great Brit
ain. The British government is nov
raising about five hundred million pc
year for war costs by direct taxation
but no other nation has as yet ser
ously increased its peace taxes. Tn
British tax, large as It is, does n
more than meet the interest on tn
governments war borrowings.
The war has compelled the rapi
expenditure of such unprecedente
sums OF money that it's difficult I
believe the warning governments wi
continue the strain for another yea
unless one side or the other sees tn
possibility of a complete victory. n
decisive success for anybody is no.
in sight. Even il either group
belligerents has the power to fore
the other into bankruptcy, 1t Is ne
probable that power will be applie'
The injury which would be done
the most robust of the warning n
atfoo. xu,t,td .,ot iuotffv tho infliqtin