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. But the backbone of a nation is its agricultural force. The German farmers and foresters are a pride to their nation. Nearly every one of these has been called or volunteered in the ranks and files, and already many thousands have been food for the cannon and guns. Their wives and children are trying hard to do their part to replace the work, but all they can give is a feeble effort.