As always
happens, some people, mostly lucky speculators, will come out of the
melee wealthier than before. This fact will not serve to lessen the
discontent of the masses, which their impoverishment is sure to create.
Food prices will be high, the earnings of labor will be low, and after
the war unemployment will be great, due to the impossibility of quick
absorption into the industrial system of returned soldiers, as well as
other maladjustments which the war is sure to bring.
The victor may secure indemnity for part of the loss, but not for all;
he will, in spite of himself, be a net loser. Taxes will be a crushing
burden, merely to secure funds with which to pay high interest on vast
new war debts, to say nothing of funds with which to purchase new
armaments--if again the nations are forced, by lack of international
control, to resume the stupendous folly of racing each other in military
equipments.
Bankruptcy and Revolution.
It may well be that among the economic consequences of the war there
will be some national bankruptcies, and that among the political
consequences will be revolutions.
Pages:
543
544
545
546
547
548
549
550
551
552
553
554
555
556
557
558
559
560
561
562
563
564
565
566
567