New Britain herald., 1916-03-25
WEALTH WASTAGE
 BY WAR ENORMOUS
Almost Unbelievable Sums Being Spent By Battling Countries
Especial to the Herald ]


 New York, March 25, 1916.-The enormous wastage of wealth merely through war expenses is imperfectly understood. Accurate figures are not available, and could not include the destruction of property on land and
 sea, nor the loss from diverting the
 energies of millions of men from con-
 structive to destructive efforts Ger
 many's monthly war expenses are estimated at about $500, ,000, and war credits to the amount of s10,-
 O0O,00O,0O0 had been voted up to the end of 1915; since when additional loans aggregating about $25OO, ,00O- GOO have been announced Germany's debt at the end of this year will be about ten times what it was before the war, leaving an annual interest charge of approximately $5S0,OOO, 900. Germany has also helped finance Bulgaria, Turkey and Austria-Hun- gary; the latter spending about s3OO,- 000,000 monthly. War is costing Great Britain nearly s25, 100000 daily, or over $709,OOO,ooo monthly, and credits amounting to $8,0O0OO 1000 had been voted up to the end of 1915 since when another $2,000, 0,0O0,- coo have been announced. Great Britain has also aided in financing France, Russia, Italy, Belgium, Ser bia and Montenegro, and the Chan cellor of the EXchequer recently stated that Great Britain will sub sidize her Allies to the extent of $2,000,000, 0,000 during the current financial year. France borrowed about s2,O0,000,0O0 during the first year Of the war Italy is spending nearly $10O,OO0,OOO monthly on war, and Russia had spent total of about s5,OOO, O,0OO,0OO up to January 16th But these terrific outlays are merely a part of the penalties of war The cost of living has advanced seriously in all of these countries Food has risen over 40 per cent in Great Brit ain, over 60 per cent in Germany and probably still more in other belliger- cnt countries All the belligerents are facing inf1ation in varying de- Srees, and they are handicapped in l international trade to the extent of ] from to 3S per cent, according to | their relative credit, which is event. | ually deflected in high priced com ] r1odities. Of the untold human 1 misery no measure can be taken in 1 The fearful war bill which Europe l must pay for in this and many suc- Ceeding generations.
 Market Hit By Peace Talk.
 Premature peace reports caused 1 a slump in war stocks during the early portion of the week, but when these rumOrs proved false, recovery promptly followed. Peace is prob ably in sight, and may come earlier than expected, yet it is still dreary months away. Germany continues r1aking a splendid fight, but grows 8 apparently weaker as time progress ses, while the Allies gain in strength. Undoubtedly the latter will persist in pursuing their advantages to the limit, judging by the utterances of tl7eir national leaders and by the en- OrmouS new contracts for ratlonS and other supplies still in process of negotiation. When peace, however, does. arrive-and it's coming should br hastened by every possible effort it will vitally affect the securities market. The war group when it sees the end of it's feverish prosperity must be expected to decline material lv: while. as to its effect upon other shares, that remains to be seen. It does not yet appear that peace would injure American stocks as whole. In some respects it would certainly benefit them. For instance, the in fux of American securities from