The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-07-26
BY JAY LovEsToNE

succeeded IN measuring accurate
" the total cost of the Great War. To
attempt to calculate the cost of the
property destroyed, the munitions
used up. the wear and tear OF machin-
cry, the loss of shipping, and the
countless other forms of destruction
of wealth is herculean task. OF
course, there is no yardstick by which.
the expert can measure in dollars and
cents the value of the lives snuffed
out on the battlefield, the cost to
society of the limbs lost and the
homes broken up.
The best study made to date of the
cost of the war, is the analysis Of war
and postwar public finance made by
Mr.. Harvey E. Fisk for the Bankers
Trust Company Of New York. An
other authoritative study of this sub
ject is the one made for the Carne-
gle Endowment for International
Peace, by Professor Bogart entitled
Direct and Indirect costs Of the Great
World War"
Hundreds Of Billions Destroyed
According to the investigation of
the Bankers Trust Company the total
money expended for war purposes IN
the six fiscal years of 1914-1920, by
the allied powers and the United
States, was s1s9, 100000. At the
same time the Central Powers spent
$37, 900, 100000 for war purposes.
Here we have a grand and gruesome
total of $272,S7O, 100000 as the cost
of the war for all belligerents.
Professor Bogart estimates that the
total direct and net cost of the Great
World War was 1886, 233 ,637 ,097. But
the Bankers Trust Investigation
which is later (1924) and a more
thorough going survey, has found the
total direct net cost, exclusive of all
so called normal military and naval
expenditures and exclusive of inter
Ally loans during the war, to be no
less than sos, 500, 900, 900.
The British Empire and its impe-
rial domains, colonies and protec-
torates, spent at least $66,OS4,000 900
for waging the war The United
States expended no less than $39, 447,-
100000 though it withdrew from the
imperialist conflict when the Bolshe-
Wiki assumed political power. Italy's
war expenditures reached total of
s21, SAT 100000. Belgium expended ST.
OO4,OOO,OO0; Japan, 5000 O0OO 900; Por.
tugal, s1,145, 0OO, 900; Roumania, 81,
sos, 600 600; Serbia, $579,000,000; and
Greece, S560,0e0 600.
Among the Central Powers, Ger
many led in war expenditures with 9
total of s5O,33O, 100000 Austria fol
lowed with sum of $40 1901, 000, 600
Turkey, spent S2,199, 100000 and Bull
garia expended 81, 100000 for stay
ing in the war.
What The War Cost Means
These are staggering figures; the.
battle the imagination Of the bigges
Of the bankers. Let us attempt tt
translate these myriads Of dollars int
somewhat simpler denominations.
If we use the gold dollar as ou
standard, and not the currency dolla
or the amount brought by the dolla
in exchange value at particular me
ment we will find that the war cos
eighty billion gold dollars.
How stupendous this sum is can b
understood only when we learn tina
IL we should purchase all the raj
ways Of the world, we should still hav
left twenty billion gold dollars wit
which we could reproduce the entir
railway system of the United States q
the highly inflated and over-capita
lied figure set by the owners then
selves.
The eighty billion dollars spent b
the imperialist powers in waging th
last great conflict was more tina
two and three quarters the total n
tional annual income of the entiI
American people in 1914 and moi
than twice the total national income