The war was started by Germany. Her authorities deny that they started it, but I am willing to let the statement I have just made await the verdict of history. And the thing that needs to be explained is why Germany started the war. Remember what the position of Germany in the world was--as enviable a position as any nation has ever occupied. The whole world stood at admiration of her wonderful intellectual and material achievements. All the intellectual men of the world went to school to her. As a university man I have been surrounded by men trained in Germany, men who had resorted to Germany because nowhere else could they get such thorough and searching training, particularly in the principles of science and the principles that underlie modern material achievement. Her men of science had made her industries perhaps the most competent industries of the world, and the label "Made in Germany" was a guarantee of good workmanship and of sound material. She had access to all the markets of the world, and every other nation who traded in those markets feared Germany because of her effective and almost irresistible competition. She had a "place in the sun." GERMANY'S INDUSTRIAL GROWTH Why was she not satisfied? What more did she want? There was nothing in the world of peace that she did not already have and have in abundance. We boast of the extraordinary pace of American advancement. We show with pride the statistics of the increase of our industries and of the population of our cities. Well, those statistics did not match the recent statistics of Germany. Her old cities took on youth and grew faster than any American cities ever grew. Her old industries opened their eyes and saw a new world and went out for its conquest. And yet the authorities of Germany were not satisfied. You have one part of the answer to the question why she was not satisfied in her methods of competition. There is no important industry in Germany upon which the Government has not laid its hands, to direct it and, when necessity arose, control it; and you have only to ask any man whom you meet who is familiar with the conditions that prevailed before the war in the matter of national competition to find out the methods of competition which the German manufacturers and exporters used under the patronage and support of the Government of Germany. You will find that they were the same sorts of competition that we have tried to prevent by law within our own borders. If they could not sell their goods cheaper than we could sell ours at a profit to themselves they could get a subsidy from the Government which made it possible to sell them cheaper anyhow, and the conditions of competition were thus controlled in large measure by the German Government itself. BERLIN-BAGDAD RAILWAY