INDUSTRIAL SUPREMACY.

Manawatu Herald, Volume XXXVIII, Issue 1646, 5 December 1916, Page 4

INDUSTRIAL SUPREMACY.

Writing in the Ninteenlh Century, Mr J. Ellis Barker states that so far the war has cost the United Kingdom about £2,500,000.000. Before it is over the expenditure may he increased to £5,000,000,000. To that gigantic sum will have to ho added pensions for incapacitated soldiers, Avar widows and orphans, and compensation for losses caused by the Avar, Avhieh together may require another £1,000,000,000. If, finally, due allowance is made for the financial A'aluc of the precious lives lost, it Avnuld appear that the Avar will absorb about 7,500,000.000, a sum Avliidi is about equal to ouehalf of Great Britain's national wealth. Opinions as to the economic consequences are divided. Some assert (hat the gigantic losses incurred will industrially cripple Britain and till Europe, and will greatly strengthen the industrial and linaneiitl predominance of the United Slates. Air Barker dot's not agree with this view. 'The war has not only vastly increased the eflieieney of the existing industries, hut has caused powerful now 'industries to arise. The industrial output of the United Kingdom, as that of the United Slates after the civil war, may he doubted and trebled. The faell that the war may devour about onehalf of our national wealth need not disturb its, seeing that the <-i a ii war cost America a sum equal to about I wo-! birds of her national Aveallh at (lie time. The Avar with Napoleon created England's economic supremacy. The civil Avar created tit,' industrial supremacy of the United States. The present war should give the industrial supremacy of the Avorid to (he British Empire.