The Dominion. FRIDAY, JANUARY 15, 1915. COLOSSAL COST OF WAR

Dominion, Volume 8, Issue 2359, 15 January 1915, Page 4

The Dominion. FRIDAY, JANUARY 15, 1915. COLOSSAL COST OF WAR

The estimates which have been made from time to time regarding the cost of the present war find expression in totals whioh cannot fail to arouse a feeling of wonder, notwithstanding the fact that the world has beoome so familiar with huge figures in connection with this great struggle that it has almost lost tho power of wondering at them. We have become so accustomed to speak about millions—millions of men and millions of money—that anything less seems hardlyi worthy of attention. .But in spite of the fact that famil-' ia-rity has made tho gigantic quite commonplace, it must come as a shock to the ordinary man to be told that the total cost of the war to all the belligerents is not far short of £10,000,000 a day. According to a cablegram which we publish in'another column, the Vorwaerts estimates the aggregate oost at £9,600,000 a day. This gives the staggering total of £3,504,000,000 a year. The estimate is not an extravagant one, for it agrees pretty closely with the calculations which have been made by financial experts in Britain and France. M. Yves Guyot, the well-known French economist, estimates the yearly cost of the fighting forces at £3,240,000,000. M. Guyot points out that in dealing with the waste of war, not only the actual' expenditure on armies, but also'the losses in human capital and the losses arising from non-produc-tion must bo taken into consideration. ' Calculations made by M. Guyot on this basis give the follow;ing'figures for six months:—

£ Cost price of combatants 1,620,000,000 Valua of lost production 1,648,000,000 Valus of lost human capital 937,000,000

Total £4,265,000,000. Acoording to this estimate the total war waste for a year would be £8,530,000,000. In addition to this the devastation caused by the opposing armies has to be allowed for. The Vorwaerts tells us that the damage done to Belgian property is estimated at £226,000,000, and that something like £2,000,000 worth of property nas been destroyed in East Prussia. These estimates appear to be very reasonable, and it must also be remembered that an enormous amount of devastation has taken place in France and Poland. These factstand figures indicate strongly that a war of such dimensions as that which is now being waged cannot be indefinitely prolonged. The war is at present costing Britain about £1,000,000 a day, and this sum is likely to increase a-s the struggle proceeds and as more men are put into the field. It is a, huge burden, but all impartial critics are agreed. that Britain is far _ better able to bear the financial strain than any of the other belligerents. The strength-of her position is shown by the success of the recent war loan' of £350,000,000. Referring to the triumphant success of the loan, Mr. J. B. Firth, in an' article i in the Fortnightly Review,' remarks that "the country may congratulate itself that the credit of Great Britain stands on'a 4 -per cent, basis after nearly four months of terrific struggle on a scale unexampled in history." It would, however, be foolish to belittle the great resources and resourcefulness of Germany. It must be borne in mind that the German Government has been deliberately preparing for years' for the conflict,' and has adopted | elaborate measures for , the purpose of making the most of the means at its disposal. "For the time, at any rate," says Mr. Firth, "Germany is certainly in no straits for money." But her military plans appeared to have been framed on the assumption that the struggle would be a short, sharp,_ and decisive one, and the probabilities are that her financial arrangements were also, to a.Large extent, based on this view. However that may be, there can be no doubt that she will feel the economic pressuro more quickly' and more acutely than Britain. Her overseas commerce has been practically annihilated, while the trade of the British Empire is going on almost as usual, thanks to the supremacy of the British Navy. A cablegram which we published yesterday states that'the fears of a. widespread depression in British trade have not been realised, and that, except in a few industries, unemployment is much less serious than was anticipated. The outlook in" Germany and Austria is very much riiore gloomy, and the position is bound. to grow worse as the war proceeds. The efforts which the Germans are making to' cause trouble between Britain and the United States over the contraband question are a striking sign that the ceaseless, vigilance of the British Fleet is telling its tale. The enemy's commerceand industries .are being surely strangled, and her capacity to bear the financial burden of the war must be correspondingly lessened. Time is lighting for the Allies, and the "silver bullet" is _ in Britain's hands. If Great Britain at the end of 18IG could stand a national debt of over £800,000,000 (writes -Mt(. Fnvni), what may she not stand without flinching at the beginning of 1915 'I We have the satisfaction of knowing' "that wc can stand the strain more steadily and for a longer period than our enemies, and that this war is being waged, not Cor the present generation alone, but still more for the generations that will come after. Hence so long as victory is ours, Ihe cost in treasure, be it h. thousand' millions, .will still be well worth while," Frum

t tho economic ■ point of view, as well as from the naval and military point of view, the position ' of Britain and her Allies is vastly superior to that of her enemies.