The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1916-08-01
THIRD YELRlN, 1nEl
NlR BEGINS TO-DAY

1 INV hOfst. august L. ne war
ring nations bf Europe ate OF their
last stand. ~ they enter today upon
the third ye3r Of the conflict.
Two yeah OF prodigal expendi-
lures. OF enbrmons losses and OF ia.
decisive Victories and defeats. havo
led up 10 the final phase Of the
great struggle which discioses neith-
er side abb az yet up dictate terms
to the other. The allies and the
central EMPIRES have no, even decid-
ed aniongI themselves as 70 the de-
tails of thkir own terms. This must
be the pridripal work of their states
men duridE the third year OF the
Iwar
The twol years OF conflict have
Idemonstratkd that in war as com
lplex as isl the European struggle.
other forceS beside those controlled
by the milijarists play an increasing
ly important part in the final out
come. Thd present war map. show
ing the German lines extending far
into enemy countries. and showing
lalso the lbs of Germany's colonial
Iempire. is tut one element that must
Ienter into hny discussion of peace
Lines on other side may hold. but
lonce the e1emy establishes definite
superiority in man-killing power. this
fact will h3ve new bearing on peace
negotiations.
Three other influences are at work
lin the finbl phase of the war: FL
financial, economic and food. Finan-
lcially. Eutope at large is approach
ling Limit of impossible taxation If
tier the w4r. to pay the interest on
1.-THE money! now being so readily boz
Irowed under the influence of patri-
lotic fervo4 Belligerent statesmen
lare enteri3g upon the thru year Of
, the war With serious financial mis-
givings th3t will probably stimulate
Interest intpeace as new borrowings
lof billionsI become necessary. 1t is
practically certain that in some Of
1.-THE warrink nations, thinly disguised
lsocialIstic seizures OF property will
have to II made. to pay the war
bills, event IL the war doesn't last a
day longen II peace continues to be
i evasive fa1 into the third year of the
war, there will be few countries that
in the end fill be able to avoid wide
spread coniiscation.
Economically, the two years Of
warfare haze not been disastrous for
any OF th4 principal belligerents.
workingmtn's wages, in general.
have risen! higher than the increas-
led cost bf living. The dispatch of so
many millions of men to the front
and thb use of SO many millions
more il munitions factories, have
caused Ia scarcity of ordinary labor
Throughout Europe.
The central empires. however, will
feel serious economic strain when
; 1.-THE wdr is over, because their sup
Iply of Jaw materials is rapidly becom-
ling exhausted The allies have been
able tb import raw materials con-
! ItinuouAly during the war. while Ger
r many and Austro-Hungary have had
: Ito live on their reserves. How to
{ purchase raw materials from abroad
lin sufficient quantities to provide
flor the millions of Teuton soldiers
} returning to workshops and factories
) latter pea3e is declared, will present.
) la serious tproblem for Berlin and
) Vienna to Solve.
} For two years, the supply OF food
) lin the Teutonic countries has been
} constantly dropping. The enforce
) ment of low dietary scale upon the
} Germans has undoubtedly had some
} depressing normal effects, but there
) lis as yet mo evidence that actual
) starvation Tor the mass of the peo-
} lple is imminent If the Russian ar
} mics, however. can reach the grain
} Fields and cAttle pasturages of Hun
} lgary and Galicia before the August
) harvesting isl over, the Teutons may
} lyet be starvA into surrender. But
) las the third hear of the war begins.
} lit seems as il the Russian offensive
} lstarted too l4te to accomplish TINS
} lObiectiye.