If the big speculators can thus merge their interests and deal across national boundaries, the little investors who have less to gain and more to lose by war will be even more pacific. Farmers and wage-earners have a still more attenuated interest in war, and a still more obvious interest in peace. Once great liens of peace are established, moreover, many of the incitements to war will of themselves disappear.... In the end, however, any internationalization of investment will be only a single step in the direction of peace. There are many other steps to be taken. Education, commerce, the development of an international morality, the creation of machinery for dealing with international disputes, are all essential to the evolution of peace. Industrial and political democracy are above all necessary. Men must be given a full life and a real stake in the wealth that peace provides, and they who bear the burdens of war must actually determine the national policies which make for war or peace. _The New Republic, June 5, 1915._ PRINCIPLES OF THE SETTLEMENT: POLITICAL NATIONALITY AND THE FUTURE [Sidenote: War has shattered our constructive effort.] For the first time in our lives, we find ourselves in complete uncertainty as to the future. To uncivilized people the situation is commonplace; but in twentieth-century Europe we are accustomed to look ahead, to forecast accurately what lies before us, and then to choose our path and follow it steadily to its end; and we rightly consider that this is the characteristic of civilized men. The same ideal appears in every side of our life: in the individual’s morality as a desire for “Independence” strong enough to control most human passions: in our Economics as Estimates and Insurances: in our Politics as a great sustained concentration of all our surplus energies (in which parties are becoming increasingly at one in aim and effort, while their differences are shrinking to alternatives of method), to raise the material, moral, and intellectual standard of life throughout the nation. From all this fruitful, constructive, exacting work, which demands the best from us and makes us the better for giving it, we have been violently wrenched away and plunged into a struggle for existence with people very much like ourselves, with whom we have no quarrel. We must face the fact that this is pure evil, and that we cannot escape it. We must fight with all our strength: every particle of our energy must be absorbed in the war: and meanwhile our social construction must stand still indefinitely, or even be in part undone, and every class and individual in the country must suffer in their degree, according to the quite arbitrary chance of war, in lives horribly destroyed and work ruined....