Evening capital and Maryland gazette., 1917-09-06
Cost OF The World War.

(From Christian Science Monitor)
The estimated cost of the world
war. to date, is approximately, $780,
100000, 600, a sum almost beyond the
comprehension of the average indi-
vidual. 1t means per capita cost tf
about $50 for every man, woman, and
child on earth. That expenditures
for war purposes are not growing
less, in the aggregate, is seen by the
fact that the daily cost to all belliger-
erts is now about $117,00O,000. This
compares with about $105,O00,0Oe six
months or so ago. Now that the
United States has entered the con-
fict, it is probable, from this time
forward, that the expenditures will
increase much more rapidly.
The financial demands have meant
a hard strain upon the resources OF
the belligerents of Europe, particu-
larly the Central Powers, Russia and
Italy. In it's forty years OF prepara-
tions for war, Germany had provided
well-flled war chest, and was in an
excellent condition, in both finan-
cial and military way, for the in
auguration of hostilities The three
years of fighting, and the rapidly in
creasing cost of it, have, however,
made such serious inroads' upon Ger
many's war chest that its contents
have, il is believed, all but vanished.
Germany's credit with the few neutral
countries of Europe has nearly dis
appeared They demand gold for
what they sell to Germany now, and
Germany has not the gold to pay. If
Germany succeeds in getting further
credit from the neutrals, it will be
only in the manner in which high
wayman gets his booty from his vic
Tins. In short, Germany is virtually
bankrupt If the morale OF Germany
were as good, for instance. as that
of China, which never considered it
self a Christian nation, the neutral
| peoples would probably keep on ex-
tending credit, taking Germany's
promises to pay as contentedly as its
gold But Germany has forfeited its
standing as a nation, both financially
and morally, and no people is inclin-
. ed to trust a financial and moral
bankrupt. 1t is an axiom, among
business men generally, that a man
of character and without security is
more desirable to lend money to
than the man with security and with
out character
Germany began TO lose gold most
ncavily last June, when the United
States Government embargo measure
became a law If President Wilson
had any doubts as to the effect of
that act upon Germany's economic
position, they must have been dis
PEELED at that time, or soon after
ward, for, since then, Germanys gold
has disappeared so rapidly that mark
exchange, in the neutral countries,
has declined to most serious extent
Germany's efforts to stem the tide by
shipping gold has resulted in the de-
pletion of the gold supply, but has
had scarcely any appreciable effect
upon exchange rates. England has
shipped considerably more thar ST.
000,000,000 in gold to the United
States, but England's annual produc-
ton Of gold, within her colonies and
possessions, is almost one-third of
that amount Germany has no out
side sources to draw from, but, on
the contrary, has had to help Austria
and Turkey. Germany has spent
money so lavishly, in carrying on the
war, that it is necessary for it to bor-
row to pay interest on the obIiga-
tions already incurred The entrance
of the United States into the world
war came about short time before
Germany's financial exhaustion The
United States has brought to the aid
of the Allies the resources of the
wealthiest nation in the world, in adj
dition to the contribution of millions
of men for trench warfare. It is,
therefore. not difficult to see ulti-
mate victory for the Allies, nor is it
hard to understand why Germany
desires peace now.