When word was given that the German Empire had declared war, it was known that she had nine hundred thousand men at a cost of two hundred and fifty million dollars on hand. But the mobilization of her several million troops at the end of the first week increased the cost to many times that amount. This did not frighten her, as her chest at Spandau had been swelled from thirty millions to ninety millions. This was enough to last for three months. When it was found out the other day that the war would last for some months longer, the National Bank of Germany, along with many other German banks, raised enough money on bonds to keep Germany going until after Christmas, without making a war loan, though the cost to France and England is somewhat less individually, still it amounts to nearly the same when the two countries are taken together. A conservative cost of the war per day is fifteen millions, of which Germany is said to spent eight millions.
Paul Leroy-Beaulieu, the French economist, estimates that each of the greater belligerents is spending an average equivalent to $200,000,000 monthly.
In presenting these figures to the Academy of Moral and Political Sciences today (October 17th), he said that he considered it probable that the war would continue for seven months from August 1st.
Accordingly, the five greater powers engaged were committed to an expenditure of $7,000,000,000. Each of the smaller states, including Japan, will have expenses of from $600,000,000 to $800,000,000 to meet.
"One might say that the war will cost the fighting powers roughly from $9,000,000,000 to $10,000,000,000," M. Leroy-Beaulieu continued. "These figures, which do not take into account the losses of revenue during hostilities, will be met.
"The larger part of the savings of the world will be absorbed by the taking up of national loans, and economic progress will be seriously checked."
These figures are only a small part of the entire cost. It is not unusual to read of thirty to fifty thousand men being slaughtered in one great engagement, and about the same number being taken prisoners.
Germany has in three months already put more than three millions into actual combat, with a reserve of two millions, and she can raise ten millions if necessary. On the other hand, the allies say if Paris is lost it must be retaken; if one million of allied reinforcements are not enough to accomplish it, there will be two millions and three millions.
These numbers represent the flower of European civilization, for only the sane and healthy are valued in war. These men include hundreds of the ablest scientists from the Pasteur Institute in Paris, from the private and government laboratories in Berlin, Frankfurt and Freiburg.
Along with these are the great professors of all the sciences and the liberal arts, many of whom are world-renowned in the great universities of Europe. Included in this magnificent rank and file are the painters, sculptors, musicians, along with the celebrated architects. These men rise to the tens and hundred thousands, and every time one of these men goes down we are reminded of the fact that he may never be replaced, and it will take many centuries to give back a little of the culture and genius they represent.