Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-17
The Deterrent Cost of War.

Some colossal figures, which dwarf
even this months returns of income
tax, were reeled off yesterday by Eugene
Meyer, governor of the Federal Reserve
Board, in testimony before the Wal
Policies Commission now sitting IN
this city. The figures deal with the
cost of war and its effect, as deter
rent, upon nations and governments
bent upon resort to force as an instru-
ment of national policy.
Mr.. Meyer, who speaks with special
authority as chairman of our Wal
Finance Corporation from 1917 to 1921
believes that the staggering cost OF
waging modern war will henceforward
have powerful influence upon would-be
belligerents. But he does not hazard
the opinion that it will always restrain
a country from rushing to arms. Sew
eral years before the World War, Nor
man Angel, British economist, now a
Labor member of the House of Com
mons, produced widely read book, en-
titled THE Great Illusion" It's lett
motif was that war is such ruinously
expensive pastime that nowadays it
would be over almost before it had be-
gun, to use an appropriate st. Patrick's
day idiom.
Germany was destined to supply the
most classic refutation Of Mr.. Angels
theory. She fought for more than four
years practically on her own financial
and economic resources. Hindenburg
did not consent to an armistice and
eventual surrender because Germanys
purse was empty. 1t was mainly an
empty stomach that brought her to
terms, coupled with the military GER
tainty that Americas now fully nobi-
Iized manpower and Pershing's SUI
psrbly trained Army were ready to deal
successfully crushing blows and able to
carry out an invasion Of German terri
tory. But for the iron ring which the
allied forces had drawn around the
fatherland by land and sea, the Ger
mans presumably could have gone on
fighting indefinitely with the aid Of
imported sinews of war. On domestic
sinews alone they waged for fifty-two ter
rible months-four and one-third years
"a combat that will forever challenge
the astonished admiration of profess
sionaI soldiers and sailors.
Finance, Mr.. Meyer says, is not 1.-THE
controlling factor" and nations will
embark upon and continue hostilities
''as long as their manpower, material
and morale last" But the accomplished
head Of the Federal Reserve System
gives some figures designed, as men re-
call the staggering dimensions Of the
modern Armageddon, to make them
think twice and thrice before unleash
ing the dogs Of war. The 19l4-l918
conflict, he testified cost the world
$4,000, 100000 That equals the
entire wealth Of the United States in
1912. Uncle Sans World War bill
alone was s23 1000 900 900.
IT do not say there will never be
another war" Governor Meyer con-
cluded, but war is proftless for all
concerned, winners as well as losers. "
There is a text for advocates of war
less world far more convincing than the
stereotyped pacifist plea for peace at
any price. 1t would have been inter-
esting for the War Policies Commission
to elicir Mr.. Meyers views on national
defense as the sanest form Of prevent
ing another such human and economic
cataclysm as the World War.
The United States now spends some
$500 100000 year on It's Army and
Navy. It is the cheapest national life
insurance imaginable.