New-York tribune., 1918-05-26
100000 Men
America $ Margin

), 900, OOO Men
America Margin
1t is, then, the clearer that two
things we must promptly do-~-take
account of our utmost resources, and
set about the methods of their ut
most collection.
What burdens can we carry?
Tried by the test of EngIand's
heroic accomplishment our present
attainment is not great, But tried
ty this same test, of England's pres
ent and utmost effort, our expecta-
tons and promises of future accom-
plishments involve dangerous and
tragic overestimate.
With the beginning of the war
and at the pre-war level of prices
the cost of each English soldier in
France ran at about $4,000 a year.
England's programme provided
for an army of three million men
six billions of war outlay = one
half OF England's annual income at
the price level of that time. This
mark England finally reached and
has at no time appreciably sur
passed. At the present level Of bond
inflated English prices to more than
double those of 1914, England's army
with its demands for food, munitions
and equipment, together with the re-
qulrements of transportation, is
costing upward of $4,000 per man
twelve billions annually. 1t is
England's limit even with the finan-
cial support of the United States.
Yet we are talking of an army of
ten millions. With our higher ex-
pense for transportation-the ships
to be made and equipped as we'll as
run-our cost per soldier will easily
outrun $4,000 annually. But our an
nual income is only fifty billions
at our present level of prices: it
was thirty or thirty-five before the
war at the prices of that time. We
are deluding ourselves and o,,,.
allies. With ten millions of SOL
dlers the cost would he fifty billions.
There would remain for civilian
purposes not patch of cloth as big
as postage stamp, not a slice of
bread or pound of coal, or any
single dollars worth of goods for
the supplementing Of the needs of
our allies. Even with an armv of
five millions we should have reached
the limit of our resources under a
tension of heroic sacrifice as oreat
as that of England at present-with
all the needs of help for England.
France and Italy still to be met.
Impossible Expectations
A Handicap
1t is, then, part of the penalty of
our present fiscal methods that in
war where both speed and en-
durance are imperative necessities.
we have already fallen seriouslv
short IN our ccomplishment: effec-
tive mobilization of our available re-
sources Is still to be achieved. For
our prospective accomplishment the
case is still more menacing. We
are solacing ourselves for the
things yet undone by the promise
OF things impossible of doing. even
by those means to which we must
fanaiiy appeal for whatever maxi
mum accomplishment is possible.
Better methods would afreafiv
have provided some approximate
measure Of the things that are nos
sabie. Two. from four can never
leave four; nor can we change any
Important thing without altering
something. Our ultimate limits ara
set by our industrial organization
and by our industrial output tho
production Of the necessary new
things together with the most
drastic economies in the civil con-
sumption of all things - never by
the easy devices Of Issuing more dol
lars or circulating more banking
promises. Credit methods embark
upon unknown seas for ports un-
known or non-existent- Our sole
course is to mobilize our economic
resources and to face the necessary
taxes.