The Worlds Work War Manual of the Great Conflict of 1914

Cover The Worlds Work War Manual of the Great Conflict of 1914
The Worlds Work War Manual of the Great Conflict of 1914
Elbert Francis Baldwin
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European bankers, when asked, during these many past >ears, what would be those financial consequences, have usuallx' replied that the sequel simply baffled financial imagination. All that they could say was that a general European war would neces- saril>' bring to a halt the ordinary operation of civilized finance and trade, with what actual outcome on the markets no one cared to predict. It cannot be said that this conflict of all the great European nations was expected, even by the states wh...ich have been involved, until a very few da\'s before the war broke out. Never- theless, there were many evidences in the mar- kets of a peculiar character, which indicated at least, the strongest kind of uneasiness in that direction. In one sense, it may be said that financial preparation for this very war has been in progress ever since the Balkan conflict came to its end, early in 1913. The situation in which that peace agreement left the great Eu- ropean powers was by no means reassuring, and the first visible reflection of that uneasiness was that the Imperial Bank of Germany began the most urgent efforts to build up its gold reserve.

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