'Our most awful enemies, the elements and germs and insect destroyers, attack us every minute without cease, yet we murder one another as if we were out of our senses. Death is ever on the watch for us, and we think of nothing but to snatch a few patches of land! About 5,000,000,000 days of work go every year to the displacement of boundary lines. Think of what humanity could obtain if that prodigious effort were devoted to fighting our real enemies, the noxious species and our hostile environment. We should conquer them in a few years. The entire globe would turn into a model farm. Every plant would grow for our use. The savage animals would disappear, and the infinitely tiny animals would be reduced to impotence by hygiene and cleanliness. The earth would be conducted according to our convenience. In short, the day men realize who their worst enemies are, they will form an alliance against them, they will cease to murder one another like wild beasts from sheer folly. Then they will be the true rulers of the planet, the lords of creation.' Says Robert L. Duffus: 'Money spent in warfare is not like spending money in other industries. It will bring far more beastliness, far more injustice, far more tyranny, far more danger to all that is honorable, generous and noble in the world, far more grief and rage than money spent in any other way. Not one per cent. of the amount devoted to these purposes, is, for the end aimed at, wasted.' It is said that the main cause of the war lay in the envy of German commerce by British rivals. This is assuredly not true. But if it were, let us look at the business side of it. Taking the net profits of over-seas trade as stated two years ago by the Hamburg-American Company, the strongest in the world, and estimating the rest, we have something like this: During the "Dry War" the net earnings of the German Mercantile fleet was about one third the cost of the navy supposed to protect it. It would take seventy years of trade, on the scale of the last year before the war, to repay Germany's expenses for a year of war. To make good all the losses of Europe would require more than one hundred years of the over-seas trading profits of all the world. War is therefore death to trade, as it is to every other agency of civilization. At the beginning of the war the value of stocks and bonds in circulation in Europe amounted to about $200,000,000,000. What is the present value of all these certificates of ownership? What is the present value of any particular industrial plant or commercial venture? A friend in London had inherited through his German wife a large aniline dye plant on the Rhine. He told me recently that he had not heard one word from it for six months. What will be its value when he hears from it? And what certainty has he as to its ownership?