The copper era and Morenci leader., 1918-01-04
THE WARTS LOSSES AND GAINS

Henry Clews, the New York banker, al- ways optimistic writes as follows on the War:
 ssOver 5O,OOOOOO men are under arms in Europe, whose energies have been turned From production to destruction. Over 12,0000UO men have been killed permanently injured since the war began, the killed alone number ing over 7,OOO,O ,OOO Over 100 billion dollars have already been expended by the nations at war, and at present rate of rising expenditure the cost will exceed $15O,OO0, 100000 when the end of the fourth year is reached next August.
 ''When it is remembered that for every man at the front from three to five are requir- ed at the rear for his support, it follows that between 150,000,000 and 200000,00o men have been withdrawn from the normal channels of production into the abnormal No wonder that the world is facing serious economic famine, not only in food and clothing, but also in the innumerable materials required for hu- man comfort and support. The loss in life and money only partly measures the colossal bill for damages which will be crushing bur- den for generations. Such a bill must also include the setback to moral and spiritual forces, the inheritance of bitterness, the derti- mental effects upon art, literature, science, eQucdJlOn ana all the Vdr1eU ana SOc1dl dHu political activities which are part of our civii- zation. These are losses that will leave their impress upon the nations for many future de- cades. The material losses such as destruction of factories railroads, ships cities, etc.. though less important than those just mentioned, visible and more readily offset by new ener- gies and resources that will promptly develop with the advent of peace.
 "The huge cost of this war can be appre- ciated when it is considered that the six great wars preceding-the RussO-Japanese, the Boer, the Franco-P Prussian, the American Civil War, the Crimean and the Napoleonic wars-cost about $23,000,00O,000, against $150,000,- 000000 the estimate of this war up to next August Great Britain will then have spent $24 00OOOO,OOO including six billion dollars in loans to allies, and good authorities estimate that in these three years the warning powers will have quadrupled their debts, the interest on which already amounts to $5,000000,000. It would seem as if such burdens would break the back of any nation, yet the tremendous devel opment of resources, and the great potential re- cuperatiVe powers of the various nations af ford good basis for the belief that recovery will be more rapid than expected This country will recover with bound when peace comes, and the gain from exports and newly open ed markets will largely offset present losses. Great Britain will certainly recuperate rapid ly, as she has always done after each war. Ger many will make tremendous efforts at recov- cry, though handicapped by impaired finances and the break up of her foreign trade. She should not be hampered when peace comes by retaliatory tariffs; they would only keep jeal- ousy alive and limit her purchasing powers from the United States France too, will also show great resiliency One of the most seri- ous after-war problems will be that of defec- tion; Germany, Russia and France have treb- led or quadrupled then issue of paper money. England is the only leading nation in Europe redeeming its obligations in gold
 ROAD WORK BY PRISONERS