The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-04-11

ments for purely war purposes, out
side of loans--for the four years which
will end August next have been es-
timated at $155,6OO, 900, 900. OF this
the share OF the United States for its
year and half participation In the
war will be $4,000, 100000. says the
New York Sun.
Neither Of these figures conveys
anything to the human mind, unless 1t
be that of a higher mathematician
used to plunging into the infinities.
One conveys about as accurate a con-
ception as the other so vast are they.
When one recalls the vain striving
school days to grasp the extent Of the
S2,S97.400 miles between this war
torn planet and the sun, the futility
of trying to realize $685. 900 900, 900 be-
comes doubly apparent.
Frank A. Vanderlp, president of the
National City bank, is used to dealing
when this country appropriated $19,-
000,OO0,OO0 Mr.. Vanderlip was moved
to wonder.
DO you know what a billion dol
lars is?" he said. Il don't. ! have
been used to handling million dol
lar units good deal, We know what
a million dollars is pretty well. We
can picture what sort OF building,
how much Of shop, what kind of a
store million dollars represents.
But suddenly we have this new
unit, billion dollars, and we multi
ply 1t by nineteen. Congress did not
have any apprehension of what $19,-
000,000,000 meant. 1t appropriated
periodically what was asked for.
1.-The departments did not have any
conception, of what $4,000, 900, 900
meant to spend. The treasury GER
tainly had no experience in raising
any such sum. But they went at 1t,
ance, and they have raised a vast
amount already"
That's what Mr.. Vanderlip thought
Of It, 1t Is only when one descends
from the abstract and begins to di-
vide and subdivide these professions
OF numerals and ciphers into combin-
ations conceivable by the mind that a
faint idea Of the terrific cost of fin
ancing this war becomes possible BY
reducing the financial outlay of one
country to fractional sums a fair re-
suit can be obtained Take the United
States.
The cost daily of the war to this
country, exclusive of loans to other
countries, from the day we entered
the war to August /, 1918, has been
estimated at $27600,000. To one used
to computing the income of the United
States Steel Corporation that might
mean something. The cost each hour
each revolution of the big hand on a
clock is s1,150,000, In each minute
$19,166.66 Is spent, while for each tick
OF the tiny second hand Uncle Sam
losses $31944 into the job of making
the world safe for democracy
II used to be said in the first days
Of the war in 1914 that such a conflict
would exhaust the worlds financial
resources in six months, and that it
would be brought to IA sudden halt by
world bankruptcy. Instead, the ma
tons continue to pile debt on debt,
billion upon billion. with apparently
no end in sight to the increasing cost
and bankruptcy seems no nearer than
In July, 1914.
The cost Of the war took an enorm-
States, for this country not only added
tremendously to the total, but in the
third year expenditures began 10
mount higher than ever before owing
to rapid development of military
strength and to the higher expenses
resulting primarily from the decreased
production of the worlds resources of
wealth because of concentration on
war production, and partly from the
consequent expansion of credit. cur
rency initiation and the consequent re-
ceding value of money itself.
The paper of France has quadrupled |
In four years of war, that of Russia |
has increased IL times and the paper
Of Germany eight times. The pur-
chasing power of the dollar is less |
The result of all these factors has been !
TO bring the war cost in the year end
ing August 1 to a total much larger
than in any previous year.
The figures compiled by the Mech
anics and Metals National bank in an
effort to portray something of wars
expenses show this plainly. In the A..
Ave months from August / to Dec
amber 81. 1914 the total military cost
was $7,900,000,000. In 1915 it was
I26, 200, 100000 in 1915, $35,650, 900, 900.
IN the seven months from January 1
% August l. 1917, it was s27,700,O00,-
100, But In this year from August
!, 1917, to August /, 1918. with the
United States in the war 1t has been
'stimated the expenses will lbe $5S,15O,- Z
00, 900.
The borrowings have been enormous,
..oro tboo eon mn nm mn having haa,,