137,858| 24,858 Hungary | 1914 | | 1918 | = 25,584 | [23] | | | | | Turkey | Nov. | LT 112 = |Oct. 31,| LT 455 = | 1,517 | 1914 | 485 | 1918 | 2,002 | | | | | | Bulgaria |Oct. 4,| 219 |Oct. 31,| 974 | 755 | 1915 | | 1918 | | | | ------ | | ------- | ------ Central | | $5,556 | | $80,112 | 74,556 Powers | | | | | | | | | | Total | | $27,883 | | $224,174 | 196,291 | |In Millions |In Millions| ========================================================== [21] Counting on repayments of one half of the loans to the Allies (£816 millions). [22] Not including the debts of the separate states. [23] Obtained by considering the debt of the new Austria as representing 70 per cent of the debt of all the states which constituted the old empire. [Illustration: French School Children Waiting to Welcome General Pétain] VI--AMERICAN BUSINESS IN THE WAR Voluntary Coöperation of Experts and Loyal Support of Labor Put Our Industries on a War Basis By GROSVENOR B. CLARKSON Director of the U. S. Council of National Defense and of Its Advisory Commission Modern wars are not won by mere numbers. They are not won by mere enthusiasm. They are not won by mere national spirit. They are won by the scientific conduct of war, the scientific application of irresistible force. --WOODROW WILSON. War today means that for every man on the fighting line there must be approximately ten men--and women--behind him in the factories, mills, and mines of the nation that enters the conflict. It is an enterprise to which military men alone have ceased to be called, for it enlists the specialists of every industry and every science from the fighting line clear back to the last line of defense. When the American Marines were thrown into the battle line at the Marne, a French general officer rode up to headquarters. "How deep is your front?" he asked. "From here to San Francisco," was the reply; and in that statement lay the story of America's industrial and economic mobilization for war. For America the actual arena of the war was 3,000 miles oversea, and into this arena the Government of the United States threw 2,000,000 of the most superb troops that the drama of warfare has known; and, what is more, got them there on time to make possible the final smashing blow. The organization, transportation, and clocklike delivery at the eleventh hour of these irresistible citizen armies of the great Republic of the western world is an epic in itself.