The losses in money and in men fell on the combatants.
This war, which has shattered so many precedents, has drawn the United
States out of its one-time aloofness. To the dignity of World Trader we
have added the twin distinction of World Banker. Already we have poured
out practically two billions of dollars for securities and credits of
the warring countries. To this must be added an even greater sum
representing our enormous war exports. The price, therefore, of whatever
freedom emerges from these years of bloodshed intimately touches
thousands of American pocketbooks in one way or another.
What is the final toll that Battle will take: more important than this,
what is the future of the treasure that we have laid on its Consuming
Altar?
Before making any analysis of the American stake in the cost of the
European War, it is important to find out first just how much money has
been expended and what the likelihood of future outlay will be. Like
every other phase of the stupendous upheaval this one is both
speculative and problematical.
To deal with these European War figures is to flirt with Titanic
Numerals. They are more the Playthings of the Gods than matters for mere
mortals to juggle with.
Up to the first of January, 1917, the total military expenses of both
sides had reached approximately $61,000,000,000. It is only when you
reduce this enormous sum to terms that every man and woman can
understand that you begin to get some idea of the amazing cost of
conflict.
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