AFTER THE WAR—WHAT THEN?

Taihape Daily Times, Volume 8, Issue 65, 16 March 1916, Page 2

AFTER THE WAR —WHAT THEN?

“The belief,” says Theodore H. Price in an article in ‘‘World’s Work,” “that the waste and disorganisation of war will bring business depression seems plausible and is fostered by the gloomy exaltations of the battlefield, but it becomes debatable when examined in the light of precedents and the facts.

“The precedents are the Napoleonic wars, the Crimean war, our oavh Avar of the Confederacy, the Franco-Prus-sian war, the Boer war and the RussoJapanese Avar. None of these Avars Avas immediately succeeded by acute depression. Some of them, in fact, appear to have induced, or at least were folloAved by, extraordinary activity and prosperity. “But it may be said that precedents do not apply to an unprecedented situation, and that the magnitude of the present struggle is entirely beyond the measurement of history.

“This is true, and it is just as well to scrutinise the facts as Avell as the -^cedents. “What, then, are the facts? About 20,000,000 men are in arms in Europe, at an expense estimated at 40,000,000 dollai-s a day. Ploav much of this would .he spent in luxury and extravagance if the belligerent nations Avere at peace it is hard to say. “Certainly great economy is now being practised throughout Europe. There is, of course, Avaste. It is represented by the cost cf explosives, which 'are reconverted into of guns that are destroyed, of ships that are sunk, and the A r alue of a few, though not many, cities that are razed. Bpt is this cost greater than that of automobiles that are worn out in the pursuit of pleasure, of superfluous ser\ r ants, cf extraA r agant dressing and eating and of the many luxuries upon which money is* spent in times of peace and prosperity? If not, then the Avaste of Avar exceeds those of peace only by the value of the lives destroyed or rendered useless.’