The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-17


A. time goes on Mr.. AsQuIrH's
prediction made q year ago that the
war would be q war If exhaustion
has more and more AN air Of fatalis.
tic truth. The British Premier en-.
tertained no doubt Of the success Of
the Allies: they had greater reserves
Of men than the Teutons and the
Turks. and the sea power Of Great
Britain gave the Allies an advantage
that could not be overcome. When
Mr.. AsQuTTH looked into the future
he was not gravely concerned about
the financial ability of England to
stand the strain Of II long conflict,
and as between England and Germany
he probably had no doubt that Ger.
many would succumb first to finan.
cial distress. OF late there have
been no calculations Of the encmy's
reserves Of men. and the exhaustion
that worries both sides is economic
alone.
No one n read Mr.. AsQUIrH's re-
view Of expenditure. credits and tax
alton in the House Of Commons on
Tuesday aud not realize that the war
Is rapidly draining the Allies If
those resources that we're once their
boosted strength. However 1t may he
with the Teutons, Great Britain as
well as France finds the raising Of
money to carry on the war u crushing
burden. Great Britain Is spending
$35.OOO.OOO Il day. which includes
loans tn her allies. At that rate u
years expenditure would be more
than $4,000. 600 900. Operating from
interior lines and spending much less
OH their navies, the TrutOnic Powers
r perhaps in II better position to
estimate for how long u time they u
pay their war bills. but they also ARE
hard pressed. and probably in sorer
distress than England. than France.
whose expenditure is considerably less
than England's. aud than Russia.
which is maintaining the largest
armies Of all.
1t may be hazarded that unless a
great success a he achieved In the
field by one side or the other during
the present year, financial exhaustion
will compel Overtures for peace aud
end the war. Germany some time
ago began to take stock Of her re-
sources and imposed the strictest
economy upon her people. England
is now doing the same thing. in fact
is undertaking by Orders in Council
10 give the Government control of the
agencies Of business and possession
of commodities that may he needed
In prosecuting the war The publicity
Of the method adopted Is thoroughly
British and does not signify that the
empire Is yet In desperate straits:
indeed. the contrary seems I" be- the
case, as Mr.. AsQurTH In a few days
will ask for II credit Of 81, 800, OOO,OOO.
But the taxation necessary to raise
this money and more to be exacted
will bend John Bull double for many
II day.
II there is one thing in the military
situation To encourage the British
people to hope on II is the report
that the German General Staff Is In.
cliAed Ia undertake no more cam
paign>. hut to hold fast to ground
won and leave the offensive to the
Allies. n the report proves to be
true. the Allies will he warranted in
believing that the Central Powers are
running short of funds required for
aggressive operations OF Il large scale.
In the west there has long been n
deadlock of the opposing armies, and
II is only In the East that changes
In the battle lines seem to be prac-
ticuble. There may o o he II dead
lock I'm finances, and II that stage is
reached peace will not he far of.
The Phosphate Folly.