,W>S & ,CAPITALISM 

#aiad 

,PEOPLE 3 

,AU?OR 3 ,PET] ,KROPOTK9 

,TAGS 3 GREAT EUROPEAN W>1 MILLIONS ( M51 W> 9 MAN*URIA1 AU/RIA & RUSSIA1 LAW 9 EUROPE1 RUSSIA & JAPAN1 #aif & #a#i#g1 5GL& & G]MANY1 RELATIONS BETWE5 NATIONS1 UNIT$ /ATES4 

,TEXT 3 

,I4 ,9,D,U,/,R,I,A,L ,C,O,M,P,E,T,I,T,I,O,N 
     

  

,PHOTO BY M]MAID1,C,C ,B,Y-,N,C-,N,D ,LIC5SE ,9 #a#h#h#c1 :5 ,5GL&1 ,G]MANY1 ,AU/RIA1 & ,ROMANIA1 TAK+ ADVANTAGE ( ! ISOLATION ( ,FRANCE1 LEAGU$ !MSELVES AGA9/ ,RUSSIA1 & A T]RIBLE ,EUROPEAN W> WAS AB\T TO BLAZE =?1 WE PO9T$ \T 9 ! ,REVOLTE :AT W]E ! REAL MOTIVES = RIVALRY AMONG ,/ATES & ! W>S RESULT+ !REFROM4  

 ,! REASON = MOD]N W> IS ALWAYS ! COMPETITION = M>KETS & ! RI<T TO EXPLOIT NATIONS BACKW>D 9 9DU/RY4 ,9 ,EUROPE WE NO LONG] FI<T = ! HONOR ( K+S4 ,>MIES >E PITT$ AGA9/ EA* O!R ?AT ! REV5UES ( ,MESSRS4 ,ALMI<TY ,RO?S*ILD1 ( ,S*NEID]1 ( ! ,MO/ ,WOR%IPFUL ,COMPANY ( ,ANZ91 OR ( ! MO/ ,HOLY ,CA?OLIC ,BANK ( ,ROME MAY REMA9 UNIMPAIR$4 ,K+S >E NO LONG] ( ANY ACC\NT4  

 ,9 FACT1 ALL W>S 9 ,EUROPE DUR+ ! LA/ HUNDR$ & FIFTY YE>S W]E W>S F\<T = 9DU/RIAL ADVANTAGE & ! RI<TS ( EXPLOITATION4 ,T[>DS ! 5D ( ! EI<TE5? C5TURY ! GREAT 9DU/RIES & WORLD COMM]CE ( ,FRANCE1 BACK$ BY H] NAVY & H] COLONIES 9 ,AM]ICA 7,CANADA7 & ,ASIA 79 ,9DIA71 BEGAN TO DEVELOP4 ,!REUPON ,5GL&1 :O HAD ALREADY CRU%$ H] COMPETITORS 9 ,SPA9 & ,HOLL&1 ANXI\S TO KEEP H] H]SELF ALONE ! MONOPOLY ( M>ITIME COMM]CE1 ( SEA-P[]1 & ( A ,COLONIAL ,EMPIRE1 TOOK ADVANTAGE ( ! ,REVOLUTION 9 ,FRANCE TO BEG9 A :OLE S]IES ( W>S AGA9/ H]4 ,FROM ?AT MOM5T ,5GL& UND]/OOD :AT RI*ES A MONOPOLIZ$ \TLET = H] GR[+ 9DU/RY W\LD BR+ 94 ,F9D+ H]SELF RI* 5\< TO PAY = ! >MIES ( ,PRUSSIA1 ,AU/RIA1 & ,RUSSIA1 %E WAG$ DUR+ A QU>T] ( A C5TURY A SUCCESSION ( T]RIBLE & DISA/R\S W>S AGA9/ ,FRANCE4 ,?AT C\NTRY WAS COMPELL$ TO DRA9 H]SELF 9 ORD] TO )/& !SE W>S1 & ONLY AT ?IS PRICE WAS %E ABLE TO UPHOLD H] RI<T TO REMA9 A 0,GREAT ,P[]40 ,?AT IS TO SAY1 %E RETA9$ H] RI<T ( REFUS+ TO SUBMIT TO ALL ! CONDITIONS ?AT ,5GLI% MONOPOLI/S 5DEAVOR$ TO IMPOSE UPON H] TO ! ADVANTAGE ( !IR [N COMM]CE4 ,%E UPHELD H] RI<T TO A NAVY & TO MILIT>Y PORTS4 ,FRU/RAT$ 9 H] PLANS = EXPANSION 9 ,NOR? ,AM]ICA1 :]E %E LO/ ,CANADA1 & 9 ,9DIA1 :]E %E WAS COMPELL$ TO AB&ON H] COLONIES1 %E RECEIV$ 9 RETURN P]MISSION TO CREATE A ,COLONIAL ,EMPIRE 9 ,AFRICA ON CONDITION ?AT %E DID NOT T\* ,EGYPT2 %E WAS P]MITT$ TO 5RI* H] MONOPOLI/S BY PILLAG+ ! ,>ABS ( ,ALG]IA4  

 ,LAT] ON1 9 ! SECOND HALF ( ! N9ETE5? C5TURY1 IT WAS ,G]MANY'S TURN4 ,:5 S]FDOM WAS ABOLI%$ AS A CONSEQU5CE ( ! UPRIS+S 9 #a#h#d#h1 & ! ABOLITION ( COMMUNAL PROP]TY COMPELL$ Y\NG PEASANTS 9 A BODY TO LEAVE ! C\NTRY = ! T[N1 :]E !Y (F]$ !MSELVES AS 0\T-(-WORKS0 AT />VATION WAGES TO ! ,MA/]S ( ,9DU/RY1 ,9DU/RY ON A L>GE SCALE BEGAN TO FL\RI% 9 SEV]AL ,G]MAN ,/ATES4 ,G]MAN MANUFACTUR]S SOON GOT TO UND]/& ?AT IF ! WORK+ CLASSES W]E GIV5 A GOOD TE*NICAL $UCATION !Y W\LD RAPIDLY OV]TAKE GREAT 9DU/RIAL C\NTRIES LIKE ,FRANCE & ,5GL& -- ON CONDITION1 BE IT WELL UND]/OOD1 ( OBTA9+ = ,G]MANY ADVANTAGE\S \TLETS BEYOND H] FRONTI]S4 ,!Y KNEW :AT ,PR\DHON HAD SO WELL DEMON/RAT$3 ?AT A TRAD] CAN ONLY SUCCE$ 9 SUB/ANTIALLY 5RI*+ HIMSELF IF A L>GE PORTION ( HIS PRODUCE IS EXPORT$ TO O!R C\NTRIES1 :]E IT CAN BE SOLD AT A PRICE NOT OBTA9ABLE 9 ! C\NTRY :]E IT WAS MANUFACTUR$4  

 ,S9CE ?AT TIME1 9 ALL ! SOCIAL /RATA ( ,G]MANY -- ?OSE ( ! EXPLOIT$ AS WELL AS ?OSE ( ! EXPLOIT]S -- !RE WAS A PASSIONATE DESIRE TO UNIFY ,G]MANY AT ALL CO/S3 TO BUILD UP A P[]FUL ,EMPIRE CAPABLE ( SUPPORT+ AN IMM5SE >MY & A /RONG NAVY1 :I* W\LD BE ABLE TO CONQU] PORTS 9 ! ,NOR? ,SEA & ! ,ADRIATIC1 & SOME DAY PORTS 9 ,AFRICA & ! ,EA/ -- AN ,EMPIRE :I* W\LD BE ! DICTATOR ( ECONOMIC LAW 9 ,EUROPE4  

 ,= ?IS PLAN TO SUCCE$1 IT WAS EVID5TLY NECESS>Y TO BREAK ! /R5G? ( ,FRANCE1 :O W\LD HAVE RESI/$1 & :O AT ?AT TIME HAD1 OR SEEM$ TO HAVE1 ! P[] ( PREV5T+ ITS EXECUTION4  

 ,FROM !SE CIRCUM/ANCES RESULT$ ! T]RIBLE W> ( #a#h#g1 ) ALL ITS SAD CONSEQU5CES AS REG>DS UNIV]SAL PROGRESS1 :I* WE SUFF] FROM EV5 TO-DAY4  

 ,BY ?IS W> & ?IS VICTORY OV] ,FRANCE1 A ,G]MANIC ,EMPIRE -- ! DREAM ( ,RADICALS1 ,/ATE ,SOCIALI/S1 & P>TLY ( ,G]MAN ,CONS]VATIVES S9CE #ahdh -- WAS AT LA/ CON/ITUT$4 ,& ?IS ,EMPIRE MADE ITSELF FELT & ITS POLITICAL P[] RECOGNIZ$1 AS WELL AS ITS RI<T TO LAY D[N ! LAW 9 ,EUROPE4  

 ,G]MANY1 ON 5T]+ A /RIK+ P]IOD ( JUV5ILE ACTIVITY1 QUICKLY SUCCE$$ 9 D\BL+ & TREBL+ H] 9DU/RIAL PRODUCTIVITY1 & SOON 9CREAS+ IT T5FOLD2 & N[ ! ,G]MAN MIDDLE CLASSES COVET NEW S\RCES ( 5RI*M5T 9 ! PLA9S ( ,POL&1 9 ! PRAIRIES ( ,HUNG>Y1 ON ! PLATEAUS ( ,AFRICA1 & ESPECIALLY >\ND ! RAILWAY L9E TO ,BA<DAD 9 ! RI* VALLEYS ( ,ASIA ,M9OR1 :I* CAN PROVIDE ,G]MAN CAPITALI/S ONE ( ! MO/ BEAUTIFUL SKIES 9 ! WORLD4 ,IT MAY BE SO ) ,EGYPT ALSO SOME DAY4  

 ,!RE=E1 IT IS PORTS = EXPORT1 & ESPECIALLY MILIT>Y PORTS 9 ! ,M$IT]RANEAN ,ADRIATIC & 9 ! ,ADRIATIC ( ! ,9DIAN ,OCEAN -- ! ,P]SIAN ,GULF -- AS WELL AS ON ! ,AFRICAN COA/ 9 ,BEIRA1 & ALSO 9 ! ,PACIFIC1 ?AT !SE S*EM]S ( ,G]MAN COLONIAL TRADE WI% TO CONQU]4 ,!IR FAI?FUL S]VANT1 ! ,G]MAN ,EMPIRE1 ) ITS >MIES & IRONCLADS1 IS AT !IR S]VICE = ?IS PURPOSE4  

 ,BUT AT EV]Y /EP !SE NEW CONQU]ORS MEET ) A =MIDABLE RIVAL -- ,5GL& B>S ! WAY4  

 ,JEAL\S ( KEEP+ H] SUPREMACY ON ! SEA1 JEAL\S ABOVE ALL ( KEEP+ H] COLONIES = EXPLOITATION BY H] [N MONOPOLI/S1 SC>$ BY ! SUCCESS ( ,G]MANY'S COLONIAL POLICY & ! RAPID DEVELOPM5T ( H] NAVY1 ,5GL& IS R$\BL+ H] EF=TS 9 ORD] TO HAVE A FLEET CAPABLE ( 9FALLIBLY CRU%+ H] ,G]MAN RIVAL4 ,5GL& LOOKS EV]Y:]E = ALLIES TO WEAK5 ! MILIT>Y P[] ( ,G]MANY ON L&4 ,& :5 ! ,5GLI% PRESS S[ AL>M & T]ROR1 PRET5D+ TO FE> A ,G]MAN 9VASION1 !Y WELL KN[ ?AT DANG] DOES NOT LIE 9 ?AT QU>T]4 ,:AT ,5GL& NE$S IS ! P[] TO DISPAT* H] REGUL> >MY TO :]E ,G]MANY1 9 ACCORD ) ,TURKEY1 MI<T ATTACK A COLONY ( ! ,BRITI% ,EMPIRE 7,EGYPT1 = 9/ANCE74 ,& = ?IS PURPOSE %E MU/ BE 9 A POSITION TO RETA9 AT HOME A /RONG ,T]RITORIAL >MY READ TO DR[N 9 BLOOD1 IF NECESS>Y1 ANY WORK+-CLASS REBELLION4 ,= ?IS REASON PR9CIPALLY MILIT>Y >TS >E TAU<T TO Y\NG B\RGEOIS1 GR\P$ 9 SQUADS ( 0SC\TS40  

 ,! ,5GLI% B\RGEOISIE ( TO-DAY WANTS TO ACT T[>DS ,G]MANY AS IT TWICE ACT$ T[>DS ,RUSSIA 9 ORD] TO >RE/1 = FIFTY YE>S OR MORE1 ! DEVELOPM5T ( ?AT C\NTRY'S SEA-P[]1 -- ONCE 9 #a#h#e#e1 ) ! HELP ( ,TURKEY1 ,FRANCE1 & ,PI$MONT2 & AGA9 9 #a#i#d1 :5 %E HURL$ ,JAPAN AGA9/ ! ,RUSSIAN FLEET & AGA9/ ,RUSSIA'S MILIT>Y PORT 9 ! ,PACIFIC4  

 ,?AT IS :Y = ! PA/ TWO YE>S WE HAVE BE5 LIV+ ON ! AL]T1 EXPECT+ A COLOSSAL ,EUROPEAN W> TO BREAK \T FROM ONE DAY TO ANO!R4  

 ,BESIDES1 WE MU/ NOT =GET ?AT ! 9DU/RIAL WAVE1 9 ROLL+ FROM ,WE/ TO ,EA/1 HAS ALSO 9VAD$ ,ITALY1 ,AU/RIA1 & ,RUSSIA4 ,!SE ,/ATES >E 9 !IR TURN ASS]T+ !IR 0RI<T0 -- ! RI<T ( !IR MONOPOLI/S TO BOOTY 9 ,AFRICA & 9 ,ASIA4  

 ,RUSSIAN BRIG&AGE 9 ,P]SIA1 ,ITALIAN PLUND] ( ! DES]T ,>ABS >\ND ,TRIPOLI1 & ,FR5* BRIG&AGE 9 ,MOROCCO >E ! CONSEQU5CES4  

 ,! ,CONC]T ( BRIG&S1 ACT+ 9 ! S]VICE ( ! MONOPOLI/S :O GOV]N ,EUROPE1 HAS 0ALL[$0 ,FRANCE TO SEIZE ,MOROCCO1 AS IT HAS 0ALL[$0 ,5GL& TO SEIZE ,EGYPT2 IT HAS 0ALL[$0 ,ITALY TO LAY HOLD ( A P>T ( ! ,OTTOMAN ,EMPIRE1 9 ORD] TO PREV5T ITS BE+ SEIZ$ BY ,G]MANY & IT HAS 0ALL[$0 ,RUSSIA TO TAKE ,NOR!RN ,P]SIA1 9 ORD] ?AT ,5GL& MI<T SECURE A SUB/ANTIAL /RIP ( L& ON ! BORD]S ( ! ,P]SIAN ,GULF BE=E ! ,G]MAN RAILWAY CAN REA* IT4  

 ,& = ?IS ,ITALIANS1 MASSACRE 9(F5SIVE ,>ABS1 ,FR5* MASSACRE ,MOORS1 & ! HIR$ ASSASS9S ( ! ,CZ> H& ,P]SIAN PATRIOTS :O 5DEAVOR TO REG5]ATE !IR C\NTRY BY A LITTLE POLITICAL LIB]TY4  

 ,ZOLA HAD A GOOD REASON = SAY+3 0,:AT SC\NDRELS RESPECTABLE PEOPLE >E60  

,I,I4 ,! ,G,R,E,A,T ,F,9,A,N,C,I,A,L ,H,\,S,E,S4 

 ,ALL ,/ATES -- WE SAW 9 \R PREVI\S >TICLE -- AS SOON AS ! GREAT 9DU/RIES & ! HUGE TRAD+ CONC]NS DEVELOP AMONG !IR PEOPLE1 BECOME UNAVOIDABLY 9VOLV$ 9 W>S4 ,!Y >E DRIV5 TO !M BY !IR [N MANUFACTUR]S1 & EV5 BY !IR [N WORK+ CLASSES1 9 ORD] TO CONQU] NEW M>KETS -- ?AT IS1 NEW S\RCES ( EASILY-OBTA9$ RI*ES4 ,MOREOV]1 9 EV]Y ,/ATE !RE EXI/S N[ADAYS A CLASS -- A CLIQUE1 ,I %\LD SAY -- 9F9ITELY MORE P[]FUL ?AN ! MANUFACTUR+ CLASS1 & :I* ALSO 9CITES TO W>4 ,IT IS COMPOS$ ( GREAT F9ANCI]S & RI* BANK]S1 :O 9T]V5E 9 9T]NATIONAL RELATIONS1 & :O FOM5T W>S4  

 ,IT HAPP5S N[ADAYS 9 A V]Y SIMPLE WAY4  

 ,T[>DS ! 5D ( ! ,MIDDLE ,AGES MO/ ( ! L>GE ,REPUBLICAN CITIES ( ,ITALY 5D$ BY RUNN+ UP HUGE DEBTS4 ,:5 ! P]IOD ( DECAY ( !SE CITIES HAD BEGUN1 [+ TO !IR CONT9U$ 5DEAVORS TO CONQU] RI* ,ORI5TAL M>KETS1 & ! CONQUE/ ( SU* M>KETS HAD CAUS$ 5DLESS W>S BETWE5 ! ,REPUBLICAN CITIES !MSELVES1 !Y BEGAN TO CONTRACT IMM5SE DEBTS TO !IR [N RI* ,M]*ANT ,GUILDS4 ,A LIKE PH5OM5ON ( BANK]S >E WILL+ TO L5D AGA9/ A MORTGAGE ON !IR BORR[]S' FUTURE 9COME4  

 ,( C\RSE1 IT IS PR9CIPALLY ! SMALL ,/ATES :I* >E PREY$ UPON4 ,BANK]S L5D !M MONEY AT #g1 #h1 & #a P]C5T1 & AS A RULE ! LOANS >E 0REALIZ$0 9 SU* CASES AT NO MORE ?AN #h P]C5T ,( ! BORR[$ SUM4 ,SO ?AT1 AFT] D$UCT+ COMMISSIONS TO BANKS & MIDDLEM51 ! ,/ATE V]Y (T5 DOES NOT RECEIVE EV5 AS MU* AS ?REE-QU>T]S ( ! AM\NT 9SCRIB$ 9 ITS L$G]4  

 ,ON !SE SWOLL5 OR 0WAT]$0 SUMS ! ,/ATE ?AT HAS CONTRACT$ DEBTS MU/ 9 FUTURE PROVIDE BO? = 9T]E/ & S9K+ FUND4 ,& :5 IT DOES NOT DO SO AT ! APPO9T$ T]M1 ! BANK]S >E QUITE WILL+ TO ADD ! >RE>S ( 9T]E/ & S9K+ FUND TO ! PR9CIPAL ( ! DEBT4 ,! WORSE ! F9ANCES ( ! 9DEBT$ ,/ATE GR[1 ! MORE RECKLESS ! EXP5DITURE ( ITS RUL]S1 ! MORE WILL+LY >E NEW LOANS (F]$ TO IT4 ,:]EUPON ! BANK]S1 AFT] SETT+ !MSELVES UP AS A 0,CONC]T10 COMB9E TO LAY H&S ON C]TA9 TAXES1 C]TA9 DUTIES1 C]TA9 RAILWAY L9ES4  

 ,9 ?IS WAY ! F9ANCI]S RU9$ ,EGYPT1 & LAT] ON CAUS$ IT TO BE PRACTICALLY ANNEX$ BY ,5GL&4 ,! MORE FOOLI% ! EXP5DITURE ( ! ,KH$IVE1 ! MORE HE WAS 5C\RAG$4 ,IT WAS ANNEXATION BY SMALL DOSES4#b#b ,9 ! SAME WAY ,TURKEY WAS RU9$1 9 ORD] TO TAKE H] PROV9CES LITTLE BY LITTLE4 ,! SAME MEANS1 WE >E TOLD1 W]E EMPLOY$ T[>DS ,GREECE1 :5 A GR\P ( F9ANCI]S EGG$ H] ON TO W> ) ,TURKEY1 9 ORD] TO SEIZE P>T ( H] REV5UES4 ,& 9 ! SAME WAY ,JAPAN WAS EXPLOIT$ BY ! GREAT F9ANCIAL H\SES ( ! ,UNIT$ ,/ATES BE=E & DUR+ H] W>S ) ,*9A & ,RUSSIA4  

 ,AS TO ,*9A1 = SEV]AL YE>S %E HAS BE5 P>TITION$ BY A SYNDICATE REPRES5T+ ! GREAT BANKS ( ,5GL&1 ,FRANCE1 ,G]MANY1 & ! ,UNIT$ ,/ATES4 ,& S9CE ! ,REVOLUTION 9 ,*9A1 ,RUSSIA1 & ,JAPAN DEM& TO BE ALL[$ TO TAKE P>T 9 ?IS SYNDICATE4 ,!Y WANT TO PR(IT BY IT 9 ORD] TO EXT5D NOT ONLY !IR SPH]ES ( EXPLOITATION1 BUT ALSO !IR T]RITORIES4 ,! P>TITION+ ( ,*9A1 PREP>$ BY BANK]S1 IS ?US ON ! ORD] ( ! DAY4  

 ,9 %ORT1 !RE IS 9 ! L5D+ ,/ATES A COMPLETE ORGANIZATION1 9 :I* RUL]S1 BANK]S1 COMPANY PROMOT]S1 CONCOCT]S ( BUS9ESS S*EMES1 & O!R 9T]LOP]S1 :OM ,ZOLA HAS SO WELL DESCRIB$ 9 0,L',>G5T10 JO9$ H&S 9 ORD] TO EXPLOIT :OLE ,/ATES4 ,?US1 :]E SIMPLE FOLK BELIEVE !Y HAVE DISCOV]$ DEEP POLITICAL REASONS1 !RE >E ONLY PLOTS HAT*$ BY ! FILIBU/]S ( F9ANCE1 :O EXPLOIT EV]Y?+3 POLITICAL & ECONOMICAL RIVALRY1 NATIONAL 5MITIES1 DIPLOMATIC TRADITIONS1 & RELIGI\S CONFLICTS4  

 ,9 ALL ! W>S ( ! LA/ QU>T] ( A C5TURY WE CAN TRACE ! WORK ( ! GREAT F9ANCIAL H\SES4 ,! CONQUE/ ( ,EGYPT & ! ,TRANSVAAL1 ! ANNEXATION ( ,TRIPOLI1 ! OCCUPATION ( ,MOROCCO1 ! P>TITION ( ,P]SIA1 ! MASSACRES 9 ,MAN*URIA1 ! MASSACRES & 9T]NATIONAL LOOT+ 9 ,*9A DUR+ ! ,BOX] RIOTS1 ! W>S ( ,JAPAN -- EV]Y:]E WE F9D GREAT BANKS AT WORK4 ,EV]Y:]E F9ANCI]S HAVE HAD ! CA/+ VOTE4 ,& IF UP TILL N[ A GREAT ,EUROPEAN W> HAS NOT BUR/ \T1 IT IS SIMPLY BECAUSE ! GREAT F9ANCI]S HESITATE4 ,!Y DO NOT QUITE KN[ TO :I* SIDE ! MILLIONS 9VOLV$ WILL CAUSE ! SCALES TO TURN2 !Y DO NOT KN[ :I* HORSE TO BACK ) !IR MILLIONS4  

 ,AS TO ! HUNDR$S ( ?\S&S ( HUMAN LIVES :I* ! W> W\LD CO/ -- :AT HAVE ! F9ANCI]S TO DO ) !M8 ,! M9D ( A F9ANCI] WORKS ) COLUMNS ( FIGURES :I* BALANCE EA* O!R4 ,! CONSEQU5CES DO NOT COME )9 HIS PROV9CE2 HE DOES NOT EV5 POSSESS ! NECESS>Y IMAG9ATION TO BR+ HUMAN LIVES 9TO HIS CALCULATIONS4  

 "9    "9   "9  

 ,:AT AN ABOM9ABLE WORLD W\LD BE UNVEIL$ IF ONLY SOMEBODY TOOK ! TR\BLE TO /UDY F9ANCE BEH9D ! SC5ES6 ,WE CAN GUESS IT SUFFICI5TLY1 IF ONLY FROM ! WEE CORN] ( ! VEIL LIFT$ BY 0,LYSIS0 9 HIS >TICLES 9 ,LA ,REVUE1 :I* APPE>$ 9 #aih 9 A VOLUME 5TITL$ 0,CONTRE L',OLIG>*IE ,F9ANCI]E 5 ,FRANCE0 70,AGA9/ ! ,F9ANCIAL ,OLIG>*Y 9 ,FRANCE074  

 ,FROM ?IS WORK WE CAN1 9 FACT1 SEE H[ F\R OR FIVE L>GE ,FR5* BANKS -- ! ,CR$IT ,LYONNAIS1 ! ,SOCIETE ,G5]ALE1 ! ,COMPTOIR ,NATIONAL D',ESCOMPTE1 & ! ,CR$IT ,9DU/RIEL ET ,COMM]CIAL -- HAVE COME TO POSSESS ! COMPLETE MONOPOLY ( GREAT F9ANCIAL OP]ATIONS 9 ! ,FR5* MONEY M>KET4  

 ,! GREAT] P>T1 AB\T F\R-FIF?S1 ( ,FR5* SAV+S1 AM\NT+ EV]Y YE> TO NE>LY ,G,B,P#h111 IS P\R$ 9TO !SE GREAT BANKS2 & :5 =EIGN ,/ATES1 BO? GREAT & SMALL1 RAILWAY COMPANIES1 T[NS1 OR 9DU/RIAL COMPANIES FROM ! FIVE CONT95TS ( ! GLOBE PRES5T !MSELVES 9 ,P>IS TO MAKE A LOAN1 !Y TURN TO !SE F\R OR FIVE GREAT BANK+ COMPANIES1 :I* HAVE VIRTUALLY ! MONOPOLY ( =EIGN LOANS1 & HAVE AT !IR DISPOSAL ! NECESS>Y MA*9]Y TO BOOM !M4  

 ,NE$LESS TO SAY ?AT IT WAS NOT ! SKILL ( ! DIRECTORS ( !SE COMPANIES ?AT CREAT$ !IR LUCRATIVE POSITION4 ,IT WAS ! ,/ATE1 ! ,FR5* ,GOV]NM5T1 9 ! FIR/ PLACE1 ?AT PROTECT$ & FAVOR$ !SE BANKS1 & RAIS$ !M TO A PRIVILEG$ POSITION :I* SOON BECAME A COLOSSAL MONOPOLY4 ,:]EUPON ! O!R ,/ATES -- ! BORR[+ ,/ATES -- /R5G!N$ ?IS MONOPOLY4 ,?US1 ! ,CR$IT ,LYONNAIS1 ?AT MONOPOLIZES ! ,RUSSIAN LOANS1 [ES ITS PRIVILEGE POSITION TO ! F9ANCIAL AG5TS ( ! ,RUSSIAN ,GOV]NM5T1 & TO ! ,CZ>'S ,M9I/]S ( ,F9ANCE4  

 ,! AM\NT ( BUS9ESS TRANSACT$ EV]Y YE> BY !SE F\R OR FIVE F9ANCIAL SOCIETIES REPRES5TS HUNDR$S ( MILLIONS ( P\NDS4 ,?US1 9 TWO YE>S1 #aif & #a#i#g1 !Y DI/RIBUT$ 9 LOANS ,G,B,P#c111 ( :I* ,G,B,P#b#b11 W]E 9 =EIGN LOANS 70,LYSIS10 PAGE #a#a74 ,& :5 WE LE>N ?AT ! 0COMMISSION0 ( !SE COMPANIES = ORGANIZ+ A =EIGN LOAN IS USUALLY #e P]C5T = 0! SYNDICATE ( 9T]M$I>IES0 7APPORTEURS1 ?R\< :OSE 9/RUM5TALITY ! NEW LOAN IS BR\<T AB\T71 #e P]C5T = ! 0GU>ANTEE SYNDICATE10 & FROM #g TO #a P]C5T = ! SYNDICATE OR TRU/ ( ! F\R OR FIVE BANKS WE HAVE JU/ NAM$1 WE SEE :AT IMM5SE SUMS GO TO !SE MONOPOLI/S4  

 ,?US1 ONE S+LE 09T]M$I>Y0 :O 0BR\<T \T0 ! LOAN ( ,G,B,P#e11 CONTRACT$ BY ! ,RUSSIAN ,GOV]NM5T 9 #aif TO CRU% ! ,REVOLUTION1 ACTUALLY RECEIV$ -- SO 0,LYSIS0 TELLS US 9 HIS JU/-M5TION$ BOOK -- A COMMISSION$ ( #a#b11 FRANCS 7,G,B,P#d#h174  

 ,WE CAN1 !RE=E1 UND]/& ! OCCULT 9FLU5CE ON 9T]NATIONAL POLITICS EX]CIS$ BY ! P[]FUL DIRECTORS ( !SE F9ANCIAL SOCIETIES1 ) !IR MY/]I\S BOOKKEEP+ & ) ! PL5>Y P[]S ?AT C]TA9 DIRECTORS EXACT & OBTA9 FROM !IR %>EHOLD]S -- BECAUSE !Y MU/ BE DISCREET :5 NE>LY HALF A MILLION P\NDS HAVE TO BE PAID TO ,MONSIEUR ,SO-&-SO1 ,G,B,P#a1"9 TO A C]TA9 ,M9I/]1 & SO MAY MILLIONS1 BESIDES ! ORD]S ( ! ,LEGION D',HONNEUR1 TO ! ,PRESS6 ,!RE IS NOT1 SAYS 0,LYSIS10 ONE S+LE L>GE NEWSPAP] 9 ,FRANCE ?AT IS NOT PAID BY ! BANKS4 ,?IS IS CLE>4 ,ONE CAN EASILY GUESS H[ MU* MONEY WAS DI/RIBUT$ 9 ?IS WAY AMONG ! ,PRESS DUR+ ! YE>S #aif & #a#i#g1 :5 A S]IES ( ,RUSSIAN ,/ATE LOANS1 RAILWAY LOANS1 & LOANS = REAL E/ATE BANKS W]E BE+ PREP>$4 ,H[ MANY 0QUILL-DRIV]S0 WAX$ FAT ON ! LOANS -- WE SEE IT 9 0,LYSIS'S0 BOOK4 ,:AT A W9DFALL1 9 FACT6 ,! ,GOV]NM5T ( A GREAT ,/ATE AT BAY6 ,A REVOLUTION TO BE CRU%$6 ,SU* LUCK IS NOT TO BE MET ) EV]Y DAY6  

 ,NO D\BT EV]YBODY IS MORE OR LESS AW>E ( ?AT1 & !RE IS NOT A S+LE POLITICIAN1 9 ,P>IS OR ELSE:]E1 :O DOES NOT KN[ ! WORK+S ( ALL ?IS JOBB]Y1 & :O DOES NOT HE> M5TION$ ! NAMES ( ! WOM5 & M5 :O HAVE RECEIV$ L>GE SUMS AFT] EA* LOAN1 GREAT OR SMALL4 ,RUSSIAN OR ,BRAZILIAN4 ,& EA* ONE1 IF HE HAS ! SLI<TE/ KN[L$GE ( BUS9ESS1 KN[S TO :AT DEGREE ?IS ORGANIZATION ( GREAT F9ANCIAL H\SES IS A PRODUCT ( ! ,/ATE1 AN ESS5TIAL ATTRIBUTE ( ! ,/ATE4  

 ,& IT W\LD BE SU* A ,/ATE -- ! P[]S & PR]OGATIVES ( :I* \R POLITICIANS >E SO C>EFUL NOT TO LESS5 -- ?AT MO/ ( ! SOCIAL RE=M]S EXPECT TO BE ! 9/RUM5T = ! EMANCIPATION ( ! MASSES6 ,:AT NONS5SE6  

 ,BE IT /UPIDITY1 IGNORANCE1 OR IMPO/URE -- IT IS EQUALLY UNP>DONABLE 9 PEOPLE :O BELIEVE !MSELVES CALL$ TO DIRECT ! FATE ( NATIONS4  

,I,I,I4 ,W,> ,& ,9,D,U,/,R,Y 

 ,WE HAVE SE5 9 ! PREC$+ *APT] ?AT 9DU/RIAL RIVALRIES & ! DESIRE ( ACQUIR+ NEW M>KETS = ! EXPORT ( HOME-MADE PRODUCTS >E ! *IEF CAUSE ( W>S 9 MOD]N TIMES4 ,LET US N[ SEE H[ 9 MOD]N 9DU/RY ! ,/ATES CREATE A CLASS ( M5 9T]E/$ 9 TURN+ NATIONS 9TO >MIES1 EV] READY TO HURL !MSELVES AT ONE ANO!R4  

 ,!RE >E N[1 AS WE KN[1 IMM5SE 9DU/RIES GIV+ WORK TO MILLIONS ( M51 & EXI/+ = ! SOLE PURPOSE ( PRODUC+ W> MAT]IAL4 ,IT IS1 !RE=E1 5TIRELY TO ! ADVANTAGE ( !SE MANUFACTUR]S1 & ( ?OSE :O L5D !M ! NECESS>Y CAPITAL1 TO PREP>E = W>1 & TO FAN ! FE> ?AT W> IS EV] ON ! EVE ( BREAK+ \T4  

 ,WE NE$ NOT CONC]N \RSELVES ) ! SMALL FRY -- ) ! MAK]S ( WOR?LESS FIRE>MS1 TRUMP]Y SWORDS1 & REVOLV]S ?AT ALWAYS MISS FIRE1 SU* AS >E TO BE F\ND 9 ,BIRM+HAM1 ,LIEGE1 ETC4 ,!SE >E NOT ( MU* ACC\NT1 AL?\< ! TRADE 9 !SE FIRE>MS1 C>RI$ ON BY EXPORT]S :O SPECULATE 9 0,COLONIAL0 W>S1 HAS ALREADY ATTA9$ A C]TA9 IMPORTANCE4 ,WE KN[1 = EXAMPLE1 ?AT ,5GLI% M]*ANTS SUPPLI$ FIRE>MS TO ! ,MATABELE :5 !Y W]E AB\T TO RISE AGA9/ ! ,5GLI%1 :O W]E =C+ !M 9TO S]FDOM4 ,LAT] ON1 !RE W]E ,FR5* MANUFACTUR]S1 & EV5 WELL-KN[N ,5GLI% ONES1 :O MADE !IR =TUNES BY SUPPLY+ FIRE>MS1 CANNONS1 & AMMUNITION TO ! ,BO]S4 ,& EV5 N[ WE HE> ( QUANTITIES ( FIRE>MS IMPORT$ BY ,5GLI% M]*ANTS 9TO ,>ABIA1 :I* SOME DAY WILL CAUSE RIS+S AMONG ! ,>ABIAN TRIBES1 BR+ AB\T ! PLUND]+ ( A FEW ,BRITI% M]*ANTS1 & CONSEQU5TLY ,BRITI% 09T]V5TION TO REE/ABLI% ORD]10 TO BE FOLL[$ SOON] OR LAT] BY 0ANNEXATION40  

 ,H[EV]1 SU* FACTS NE$ NOT BE MULTIPLI$4 ,B\RGEOIS PATRIOTISM IS ALREADY WELL KN[N1 & F> MORE S]I\S CASES HAVE BE5 WITNESS$ REC5TLY4 ,?US1 DUR+ ! W> BETWE5 ,RUSSIA & ,JAPAN1 ,5GLI% GOLD WAS SUPPLI$ TO ! ,JAPANESE 7AT A V]Y HI< RATE ( 9T]E/71 9 ORD] ?AT !Y MI<T DE/ROY ,RUSSIA'S NASC5T SEA-P[] 9 ! ,PACIFIC1 :I* GAVE UMBRAGE TO ,5GL&4 ,BUT AT ! V]Y SAME TIME ! ,5GLI% COLLI]Y COMPANIES SOLD #c1 TONS ( COAL AT A V]Y HI< PRICE TO ,RUSSIA1 TO 5ABLE H] TO S5D ,ROJDE/V5SKY'S FLEET TO ! ,EA/4 ,TWO BIRDS W]E KILL$ ) ONE /ONE3 ! [N]S ( ! ,WEL% COLLI]IES MADE A GOOD BUS9ESS \T ( IT2 ! %>EHOLD]S & ! DIRECTORS ( ! ,WEL% COLLI]Y COMPANIES1 TAK5 FROM ! NOBILITY1 ! CL]GY1 & ! ,H\SE ( ,COMMONS -- EV]Y SELF-RESPECT+ COMPANY HAS REPRES5TATIVES ( !SE ?REE CLASSES ON ITS BO>D ( DIRECTORS -- 9CREAS$ !IR =TUNES2 &1 ON ! O!R H&1 ! ,LOMB>D ,/REET F9ANCI]S PLAC$ MONEY AT #i OR #a P]C5T 9 ! ,JAPANESE LOAN1 & MORTGAG$ A SUB/ANTIAL P>T ( ! 9COME ( !IR 0DE> ALLIES0 AS A SECURITY = ! DEBT4  

 ,!SE >E BUT A FEW FACTS AMONG ?\S&S ( O!RS ( ! SAME K9D4 ,9 FACT1 WE %\LD BE APPRIZ$ ( F9E ?+S DONE BY ! RUL+ CLASSES IF ! B\RGEOIS DID NOT KN[ H[ TO KEEP !IR SECRETS6 ,LET US1 !N1 PASS ON TO ! NEXT CATEGORY ( FACTS4  

"9   "9   "9  

 ,WE KN[ ?AT ALL GREAT ,/ATES HAVE FAVOR$1 BESIDES !IR [N >S5ALS1 ! E/ABLI%M5T ( HUGE PRIVATE FACTORIES1 :]E GUNS1 >MOR-PLATES = IRONCLADS ( LESS] SIZE1 %ELLS1 GUNP[D]1 C>TRIDGES1 ETC41 >E MANUFACTUR$4 ,L>GE SUMS >E SP5T BY ALL ,/ATES 9 ! CON/RUCTION ( !SE AUXILI>Y FACTORIES1 :]E ! MO/ SKILL$ WORKM5 & 5G9E]S >E TO BE F\ND GA!R$ TOGE!R1 READY TO FABRICATE 5G9ES ( DE/RUCTION ON A GREAT SCALE 9 CASE ( A W>4  

 ,N[1 IT IS P]FECTLY EVID5T ?AT ! DIRECT ADVANTAGE ( ?OSE CAPITALI/S :O HAVE 9VE/$ !IR CAPITAL 9 SU* CONC]NS LIES 9 KEEP+ UP RUMORS ( W> 9 ORD] TO P]SUADE US ?AT >MAM5TS >E NECESS>Y1 & EV5 SPREAD+ PANIC IF NE$ BE4 ,9 FACT1 !Y DO SO4  

 ,IF ! *ANCES ( A ,EUROPEAN W> SOMETIMES GR[ LESS1 IF ! RUL+ CLASSES -- ?\< !MSELVES 9T]E/$ AS %>EHOLD]S 9 GREAT FACTORIES ( ?IS K9D 7,ANZ91 ,KRUPP1 ,>M/RONG1 ETC471 & 9 GREAT RAILWAY COMPANIES1 COAL M9ES1 ETC4 -- REQUIRE PRESS+ 9 ORD] TO MAKE !M S\ND ! W>-TRUMPET1 !Y >E COMPELL$ TO DO SO BY ,J+O OP9ION FABRICAT$ BY MEANS ( NEWSPAP]1 & EV5 BY PREP>ATIONS MADE = 9SURRECTIONS4#c"9 

 ,9 FACT1 DOES NOT ?AT PRO/ITUTE1 ! ,PRESS1 PREP>E M5'S M9DS = NEW W>S8 ,DOES IT NOT HA/5 ON ?OSE W>S ?AT >E LIKELY TO BREAK \T8 ,& 9 ?IS WAY DOES IT NOT COMPEL ! ,GOV]NM5TS TO D\BLE1 TO TREBLE !IR >MAM5TS8 ,= EXAMPLE1 DID WE NOT SEE 9 ,5GL&1 DUR+ ! T5 YE>S PREC$+ ! ,BO] ,W>1 ! GREAT ,PRESS1 & ESPECIALLY ! ILLU/RAT$ PAP]S1 >TFULLY PREP>+ ! PEOPLE'S M9DS = ! NECESSITY ( A W>1 9 ORD] TO 0>\SE PATRIOTISM08 ,TO ?IS 5D NO /ONE WAS LEFT UNTURN$4 ,) MU* NOISE !Y PUBLI%$ NOVELS AB\T ! NEXT W>1 9 :I* WE W]E TOLD H[ ! ,5GLI%1 BEAT5 AT FIR/1 MADE A SUPREME EF=T1 & 5D$ BY DE/ROY+ ! ,G]MAN FLEET & E/ABLI%+ !MSELVES 9 ,ROTT]DAM4 ,AN ,5GLI% NOBLEMAN SP5T L>GE SUMS ( MONEY ?AT A PATRIOTIC PLAY MI<T BE ACT$ ALL OV] ,5GL&4 ,! PLAY WAS TOO /UPID TO PAY1 EV5 9 SECOND-RATE !AT]S1 BUT ITS PRODUCTION PLAY$ 9TO ! H&S ( ?OSE MONEYMAK]S & POLITICIANS :O 9TRIGU$ ) ,RHODES 9 ,AFRICA ?AT !Y MI<T SEIZE ! ,TRANSVAAL GOLD M9ES & COMPEL ! BLACK NATIVES TO WORK 9 !M4  

 ,=GETT+ ! PA/1 !SE SELF-/YL$ 0PATRIOTS0 EV5 W5T AS F> AS REVIV+ ! CULT ( ,5GL&'S SWORN 5EMY1 ,NAPOLEON ,I41 & S9CE !N ! WORK 9 ?IS DIRECTION HAS NEV] CEAS$4 ,9 #a#i#d-#e !Y ALMO/ SUCCE$$ 9 DRIV+ ,FRANCE1 GOV]N$ AT ?AT TIME BY ,CLEM5CEAU & ,DELCASSE1 9TO A W> AGA9/ ,G]MANY -- ! ,M9I/] = ,=EIGN ,AFFAIRS ( ! ,CONS]VATIVE ,GOV]NM5T1 ,LORD ,LANSD[NE1 HAV+ PROMIS$ TO SUPPORT ! ,FR5* >MIES ) AN >MY ( #e1 M51 TO BE S5T TO ! ,CONT95T4 ,DELCASSE1 HAV+ ATTA*$ UNDUE IMPORTANCE TO ?IS RIDICUL\S PROPOSAL1 V]Y NE>LY LAUN*$ ,FRANCE 9TO A DISA/R\S W>4  

 ,9 G5]AL1 ! MORE WE ADVANCE ) \R B\RGEOIS ,/ATE CIVILIZATION1 ! MORE ! ,PRESS1 CEAS+ TO BE ! EXPRESSION ( :AT MAY BE CALL$ PUBLIC OP9ION1 APPLIES ITSELF TO MANUFACTUR+ W>LIKE OP9ION BY ! MO/ 9FAM\S MEANS4 ,! ,PRESS1 9 ALL GREAT ,/ATES1 IS CONTROLL$ BY TWO OR ?REE F9ANCIAL SYNDICATES1 :I* MANUFACTURE ! PUBLIC OP9ION NE$$ = ! PROMOTION ( !IR 5T]PRISES4 ,!Y [N ! L>GE NEWSPAP]S1 & ! LESS] ONES >E ( NO ACC\NT4 ,!Y >E TO BE B\<T AT SU* L[ PRICES6  

 "9    "9    "9  

 ,BUT ?IS IS NOT ALL4 ,! GANGR5E SPREADS F> DEEP]4  

 ,MOD]N W>S NO LONG] CONSI/ ( A M]E MASSACRE ( HUNDR$S ( ?\S&S ( M5 9 A FEW GREAT BATTLES3 A MASSACRE ( :I* ?OSE :O HAVE NOT FOLL[$ ! DETAILS ( ! GREAT BATTLES DUR+ ! LA/ W> 9 ,MAN*URIA & ! ATROCI\S DETAILS ( ! GREAT BATTLES DUR+ ! LA/ W> 9 ,MAN*URIA & ! ATROCI\S DETAILS ( ! SIEGE & DEF5SE ( ,PORT ,>?UR HAVE ABSOLUTELY NO IDEA4 ,YET ! ?REE GREAT HI/ORICAL BATTLES -- ,GRAVELOTTE1 ,POTOMAC1 ,BOROD9O 7NE> ,MOSC[7 -- EA* LA/+ ?REE DAYS1 & 9 :I* !RE W]E RESPECTIVELY #i11 #a11 & #a#a1 M5 KILL$ & W\ND$ ON BO? SIDES1 -- !SE BATTLES W]E *ILD'S PLAY 9 COMP>ISON TO MOD]N W>F>E1 AS WE SAW IT 9 ,MAN*URIA4  

 ,TO-DAY1 GREAT BATTLES >E F\<T ON A FRONT1 NOT ( FIVE TO T5 MILES AS BE=E1 BUT ( ?IRTY-FIVE TO =TY MILES2 !Y NO LONG] LA/ ?REE DAYS1 AS WAS ! CASE 9 ! JU/-NAM$ GREAT BATTLES1 BUT SEV5 DAYS 7,LAO-,YANG7 & T5 DAYS 7,MUKD572 & ! LOSSES >E #a1 & #a#e1 M5 ON EA* SIDE4  

 ,! RAVAGES CAUS$ BY %ELLS1 ?R[N ) ACCURACY ( AIM AT A DI/ANCE ( ?REE1 F\R1 OR FIVE MILES1 BY BATT]IES ! POSITION ( :I* CANNOT BE MADE \T1 AS !Y USE SMOKELESS P[D]1 >E UNIMAG9ABLE4 ,! GUNS >E NOT FIR$ HAPHAZ>D ANY MORE4 ,! POSITION OCCUPI$ BY ! 5EMY IS DIVID$ M5TALLY 9TO SQU>ES TWO-?IRDS ( A MILE WIDE1 & ! FIRE FROM ALL ! BATT]IES IS CONC5TRAT$ ON EA* SQU>E SUCCESSIVELY1 9 ORD] TO DE/ROY EV]Y?+ TO BE F\ND !RE4  

 ,:5 ! FIRE FROM SEV]AL HUNDR$ PIECES ( ORDNANCE IS CONC5TRAT$ ON SU* A SQU>E1 !RE IS NO SPACE ( T5 SQU>E Y>DS ?AT HAS NOT BE5 /RUCK BY A %ELL1 NOT A BU% ?AT HAS NOT BE5 CUT D[N BY ! H[L+ MON/]S S5T NOBODY KN[S :5CE4 ,SEV5 OR EI<T DAYS ( ?IS T]RIBLE FIRE DRIVES ! SOLDI]S TO MADNESS2 & :5 ! ATTACK+ COLUMNS1 AFT] HAV+ BE5 REPELL$ EI<T TO T5 TIMES 9 SUCCESSION1 NEV]!LESS GA9 GR\ND BY A FEW Y>DS EV]Y TIME1 & F9ALLY REA* ! 5EMY'S TR5*ES1 A H&-TO-H& /RUGGLE BEG9S4 ,AFT] HAV+ HURL$ H&-GR5ADES & PIECES ( PYROXYL9E AT ONE ANO!R 7TWO PIECES ( PYROXYL9E TI$ TOGE!R ) A /R+ W]E US$ BY ! ,JAPANESE AS A SL+71 ,RUSSIAN & ,JAPANESE SOLDI]S ROLL$ 9 ! TR5*ES ( ,PORT ,>?UR LIKE WILD BEA/S1 /RIK+ EA* O!R ) ! BUTT-5D ( !IR RIFLES & ) !IR KNIVES1 & TE>+ EA* O!R'S FLE% ) !IR TEE?4  

 ,! WORK+ CLASSES ( ! ,WE/ KN[ NO?+ ( ?IS T]RIBLE RETURN TO ! MO/ ATROCI\S SAVAG]Y :I* MOD]N W>F>E BR+S =?2 & ! MIDDLE CLASS :O KN[ IT TAKE C>E NOT TO TELL !M4  

 ,WE W]E TOLD ?AT SMOKELESS P[D] W\LD R5D] W>S IMPOSSIBLE1 TO :I* WE REPLI$ ?AT ?IS WAS S5TIM5TAL NONS5SE4 ,WE N[ KN[ ?AT ) ! RETURN ( MOD]N W>F>E TO ! H&-GR5ADE1 ! SL+1 & ! BAYONET1 W> HAS RETURN$ TO ! MO/ B>B>\S ASPECTS ( OLD5 DAYS4  

 "9    "9      "9  

 ,H[EV]1 MOD]N W>S DO NOT ONLY CONSI/ ( MASSACRES1 ( MASSACRE BR\<T TO ! PIT* ( RAGE -- ( A RETURN TO SAVAG]Y4 ,!Y ALSO CAUSE ! DE/RUCTION ( HUMAN LABOR ON A COLOSSAL SCALE1 & WE CONT9UALLY FEEL ! EFFECT ( ?IS DE/RUCTION 9 TIME ( PEACE BY ! 9CREASE ( MIS]Y AMONG ! POOR1 RUNN+ P>ALLEL ) ! 5RI*M5T ( ! RI*4  

 ,EV]Y W> DE/ROYS A =MIDABLE AM\NT ( ALL SORTS ( GOODS1 9CLUD+ NOT ONLY ! SO-CALL$ W> MAT]IAL1 BUT ALSO ?+S MO/ NECESS>Y TO EV]YDAY LIFE & TO SOCIETY AS A :OLE3 BREAD1 MEAT1 VEGETABLES1 FOOD ( ALL K9D1 BEA/S ( BURD51 LEA!R1 COAL1 METAL1 CLO?+1 & SO ON4 ,?IS REPRES5TS ! USEFUL LABOR ( MILLIONS ( M5 DUR+ DECADES2 & ALL ?IS IS WA/$1 BURNT1 GUTT$ 9 A FEW MON?S4 ,EV5 9 TIME ( PEACE IT IS WA/$1 9 ANTICIPATION ( COM+ W>S4  

 ,AS ?IS W> MAT]IAL1 !SE METALS1 & !SE /ORES MU/ BE PREP>$ BE=EH&1 ! M]E POSSIBILITY ( A NEW W> BR+S AB\T 9 ALL \R 9DU/RIES %OCKS & CRISES ?AT EV]Y ONE ( US FEELS4 ,Y\1 & ,I1 ALL ( US1 WE FEEL !IR EFFECT 9 ! SMALLE/ DETAILS ( \R LIFE4 ,! BREAD WE EAT1 ! COAL WE BURN1 ! RAILWAY TICKET WE BUY1 ! PRICE ( EA* >TICLE DEP5DS ON RUMORS RELAT+ TO ! LIKELIHOOD ( W> AT AN E>LY DATE -- RUMORS PROPAGAT$ BY SPECULATORS ON A RISE 9 ! PRICES ( ALL ?IS PRODUCE4  

 ,! GREAT 9DU/RIAL CRISES :I* WE HAVE LATELY LIV$ ?R\< W]E C]TA9LY DUE -- AS WE %ALL SEE 9 \R NEXT ISSUE -- TO ! ANTICIPATION ( W>S4  

,I,V4 ,9,D,U,/,R,I,A,L ,C,R,I,S,E,S ,D,U,E ,T,O ,A,N,T,I,C,I,P,A,T,I,O,N ,( ,W,>4 

 ,! NECESSITY = PREP>+1 LONG BE=EH&1 =MIDABLE QUANTITIES ( W> MAT]IAL & ACCUMULATIONS ( /ORES ( EV]Y DESCRIPTION1 BR+S AB\T 9 ALL 9DU/RIES %OCKS & CRISES FROM :I* EV]Y ONE1 & ESPECIALLY ! WORK+ MAN1 SUFF]S TO A T]RIBLE EXT5T4 ,?IS FACT WAS TO BE OBS]V$ QUITE REC5TLY 9 ! ,UNIT$ ,/ATES4  

 ,EV]Y ONE1 NO D\BT1 REMEMB]S ! 9DU/RIAL CRISIS ?AT DEVA/AT$ ! ,UNIT$ ,/ATES SOME ?REE OR F\R YE>S AGO4 ,9 A MEASURE1 IT IS NOT OV] YET4 ,WELL1 ! ORIG9 ( ?IS CRISIS -- :ATEV] MAY HAVE BE5 SAID AB\T IT BY 0SCI5TIFIC0 ECONOMI/S1 :O KN[ ! WRIT+S ( !IR PR$ECESSORS1 BUT IGNORE REAL LIFE -- ! TRUE ORIG9 ( ?IS CRISIS LAY 9 ! EXCESSIVE PRODUCTION ( ! *IEF 9DU/RIES ( ! ,/ATES1 C>RI$ ON DUR+ SEV]AL YE>S 9 ANTICIPATION ( A GREAT ,EUROPEAN W> & ( A W> BETWE5 ,JAPAN & ! ,UNIT$ ,/ATES4 ,?OSE :O SPREAD ! IDEA ( !SE W>S KNEW WELL ! EFFECT ?AT ! EXPECTATION ( SU* CONFLICTS W\LD EX]CISE 9 /IMULAT+ C]TA9 ,AM]ICAN 9DU/RIES4 ,9 FACT1 = TWO OR ?REE YE>S A FEV]I% 5]GY REIGN$ 9 EXTRACT+ ALL SORTS ( METALS & COAL1 & 9 ! MANUFACTURE ( RAILWAY PLANT & PRES]V$ >TICLES ( FOOD1 AS WELL AS ALL MAT]IALS = CLO?+4  

 ,! EXTRACTION ( IRON ORE & ! MANUFACTURE ( /EEL 9 ! ,UNIT$ ,/ATES REA*$ QUITE UNEXPECT$ PROPORTIONS DUR+ !SE YE>S4 ,/EEL IS ! PR9CIPAL >TICLE ( CONSUMPTION 9 MOD]N W>F>E1 & ! ,UNIT$ ,/ATES MANUFACTUR$ IT 9 A FANTA/ICAL WAY1 AS WELL AS ?OSE METALS1 SU* AS NICKEL & MANGANESE1 :I* >E REQUIR$ 9 ! MANUFACTURE ( V>I\S K9DS ( /EEL US$ = W> MAT]IALS4 ,AT ! SAME TIME1 ! BIG ,AM]ICAN CONC]NS VI$ ) ONE ANO!R AS TO :O W\LD SPECULATE ! MO/ 9 GUN METAL1 COPP]1 LEAD1 & NICKEL4  

 ,! SAME ?+ HAPP5$ ) SUPPLIES ( CORN1 PRES]V$ MEAT1 FI%1 & VEGETABLES4 ,COTTONS1 CLO?1 & LEA!R FOLL[$ CLOSELY4 ,& AS EA* GREAT 9DU/RY GIVES RISE TO A NUMB] ( SMALL] ONES >\ND IT1 ! FEV] ( A PRODUCTION F> 9 EXCESS ( ! DEM& SPREAD MORE & MORE4 ,MONEY-L5D]S1 OR RA!R CR$IT-L5D]S1 :O SUPPLI$ ! MANUFACTUR]S ) CAPITAL1 PR(IT$ ( C\RSE BY ?IS FEV]1 EV5 MORE SO ?AT ! CAPTA9S ( 9DU/RY4  

 ,!N1 AT A BL[1 PRODUCTION SUDD5LY /OPP$1 )\T IT BE+ POSSIBLE TO ASCRIBE ! FACT TO ANY ONE ( ! CAUSES TO :I* PREC$+ CRISES HAD BE5 ATTRIBUT$4 ,! TRU? IS1 ?AT FROM ! DAY :5 ! GREAT ,EUROPEAN F9ANCIAL H\SES W]E SURE ?AT ,JAPAN1 RU9$ BY ! W> 9 ,MAN*URIA1 W\LD NOT D>E TO ATTACK ! ,UNIT$ ,/ATES1 & ?AT NO ,EUROPEAN NATION FELT ITSELF SUFFICI5TLY SURE ( VICTORY TO DRAW ! SWORD1 ,EUROPEAN CAPITALI/S REFUS$ TO GIVE CR$IT EI!R TO ?OSE ,AM]ICAN BANK]S :O KEPT UP OV]-PRODUCTION1 OR TO ! ,JAPANESE 0,NATIONALI/S40  

 ,! ?REAT ( AN IMM95T W> CEAS$4 ,/EEL FACTORIES1 COPP] M9ES1 BLA/ FURNACES1 DOCKY>DS1 TANN]IES1 ALL SUDD5LY SL[$ D[N !IR OP]ATIONS1 !IR ORD]S1 !IR PUR*ASES4  

 ,IT WAS WORSE ?AN A CRISIS1 IT WAS A DISA/]4 ,MILLIONS ( WORK]S ( BO? SEXES W]E ?R[N ON ! /REET & LEFT 9 ! MO/ ABJECT MIS]Y4 ,GREAT & SMALL FACTORIES CLOS$ D[N4 ,! CONTAGION SPREAD AS DUR+ AN EPIDEMIC1 S[+ T]ROR >\ND4  

 ,:O WILL EV] TELL ( ! SUFF]+S ( MILLIONS ( M51 WOM51 & *ILDR51 ( BROK5 LIVES DUR+ ! CRISIS1 :ILE IMM5SE =TUNES W]E BE+ MADE 9 ANTICIPATION ( MANGL$ FLE% & ! PILES ( HUMAN CORPSES AB\T TO BE HEAP$ UP 9 ! GREAT BATTLES6  

 ,?IS IS W>2 ?IS IS H[ ! ,/ATE 5RI*ES ! RI*1 KEEPS ! POOR 9 MIS]Y1 & YE> BY YE> R$UCES !M MORE & MORE TO SUBJECTION4  

 "9    "9    "9  

 ,N[1 A CRISIS RESULT+ FROM ! SAME CAUSES AS ! ONE 9 ! ,UNIT$ ,/ATES WILL 9 ALL LIKELIHOOD BE PRODUC$ 9 ,EUROPE1 & ESPECIALLY 9 ,5GL&4 

 ,T[>DS ! MIDDLE ( ! YE> #aiaa ! WORLD WAS A/ONI%$ AT ! SUDD5 & QUITE UN=ESE5 9CREASE 9 ,5GLI% EXPORTS4 ,NO?+ ( CONSEQU5CE 9 ! WORLD ( ECONOMICS L$ US TO EXPECT IT4 ,NO REASON = IT HAS BE5 GIV51 PRECISELY BECAUSE ! ONLY POSSIBLE EXPLANATION IS ?AT ! ORD]S CAM FROM ! ,CONT95T 9 ANTICIPATION ( A W> BETWE5 ,5GL& & ,G]MANY4 ,AS WE KN[1 ?IS W> FAIL$ TO BREAK \T 9 ,JULY1 #a#i#a#a2 BUT IF IT HAD BROK5 \T1 ,FRANCE1 ,RUSSIA1 ,AU/RIA1 & ,ITALY W\LD HAVE BE5 COMPELL$ TO P>TICIPATE 9 IT4 ,IT IS EVID5T ?AT GREAT F9ANCI]S1 :O SUPPLY SPECULATORS 9 METAL1 PROVISIONS1 CLO?1 LEA!R1 ETC41 ) !IR CR$IT1 HAD BE5 W>N$ ( ! ?REAT5+ TURN RELATIONS W]E TAK+ BETWE5 ! TWO SEA ,P[]S4 ,!Y KNEW ?AT BO? ,GOV]NM5TS W]E PRESS+ =W>D !IR PREP>ATIONS = W>1 SO !Y HA/5$ TO GIVE !IR ORD]S1 :I* 9CREAS$ ,5GLI% EXPORTS 9 #aiaa BEYOND MEASURE4#d"9 

 ,TO ! SAME CAUSE IS ALSO DUE ! REC5T EXTRAORD9>Y RISE 9 PRICES ( ALL PROVISIONS )\T EXCEPTION1 AT A TIME :5 NEI!R ! YIELD ( LA/ YE>'S H>VE/ NOR ! ACCUMULATION ( ALL K9DS ( GOODS 9 W>EH\SES JU/IFI$ ! RISE4 ,! FACT IS ALSO ?AT ! RISE DID NOT AFFECT PROVISIONS ONLY2 ALL GOODS W]E 9FLU5C$ BY IT4 ,ORD]S CONT9U$ TO P\R 9 :5 NO REASON :ATEV]1 SAVE ! ANTICIPATION ( W>1 C\LD BE BR\<T =W>D = ?IS EXCESSIVE DEM&4  

 ,& N[ IT W\LD BE SUFFICI5T ?AT ! GREAT ,COLONIAL SPECULATORS ( ,5GL& & ,G]MANY AGREE AB\T !IR %>E 9 ! P>TITION ( ,EA/]N ,AFRICA1 & TO ACT 9 CONC]T AS REG>DS 0! SPH]ES ( 9FLU5CE0 9 ,ASIA & 9 ,AFRICA -- ?AT IS TO SAY1 COME TO T]MS OV] ! NEXT CONQUE/S- = A SUDD5 /OPPAGE ( 9DU/RY TO TAKE PLACE 9 ,EUROPE SIMIL> TO ! CRISIS FROM :I* ! ,UNIT$ ,/ATES HAVE SUFF]$ REC5TLY4  

 ,9 TRU?1 ?IS R$UCTION  BEGAN TO BE FELT ALREADY AT ! BEG9N+ (  #a#i#a#b4 ,?AT IS :Y ! ,COAL ,COMPANIES & ! ,COTTON ,LORDS ( ,5GL& PROV$ SO UNCOMPROMIS+ T[>DS !IR WORK PEOPLE & DROVE !M TO A /RIKE4 ,!Y =ESAW A R$UCTION ( ORD]S :5 !Y HAD ALREADY TOO GREAT A /OCK ( GOODS & TOO MU* COAL PIL$ UP >\ND !IR M9ES4 

 "9    "9     "9  

 ,:5 WE CLOSELY ANALYZE ! FACTS >IS+ FROM ! ACTIVITY ( MOD]N ,/ATES1 WE UND]/& TO :AT EXT5T ! :OLE LIFE ( \R CIVILIZ$ SOCIETIES DEP5DS1 NOT ON ! FACTS ( ECONOMIC DEVELOPM5TS 9 NATIONS1 BUT ON ! MANN] 9 :I* V>I\S GR\PS ( MONOPOLI/S & PRIVILEG$ M51 MORE OR LESS FAVOR$ BY ! ,/ATE1 REACT ON !SE FACTS4  

 ,?US IT IS EVID5T ?AT ! 5TRY 9TO ! >5A ( ECONOMICS ( SU* A P[]FUL PRODUC] 9 MOD]N ,G]MANY1 ) H] S*OOLS1 H] TE*NICAL $UCATION SPREAD BROADCA/ AMONG H] PEOPLE1 H] Y\?FUL HI< SPIRITS1 & H] CAPACITY = ORGANIZATION1 ( NECESSITY *ANG$ ! RELATIONS BETWE5 NATIONS4 ,A READJU/M5T ( =CES WAS UNAVOIDABLE4 ,BUT1 [+ TO ! SPECIFIC ORGANIZATION ( MOD]N ,/ATES1 ! ADJU/M5T ( ECONOMIC =CES IS IMP$$ BY ANO!R FACTOR ( POLITICAL ORIG93 ! PRIVILEGES & ! MONOPOLIES CON/ITUT$ & UPHELD BY ! ,/ATE4  

 ,9 REALITY1 MOD]N ,/ATES >E SPECIALLY CON/ITUT$ 9 ORD] TO E/ABLI% PRIVILEGES 9 FAVOR ( ! RI*1 AT ! EXP5SE ( ! POOR4 ,! GREAT F9ANCIAL H\SES ( EA* NATION ALWAYS LAY D[N ! LAW 9 ALL POLITICAL MATT]S ( IMPORTANCE4 0,:AT WILL ,B>ON ,RO?S*ILD SAY TO IT80 0,:AT ATTITUDE WILL ! SYNDICATE ( GREAT BANK]S 9 ,P>IS1 ,VI5NA1 & ,LONDON TAKE80 ,SU* QUE/IONS HAVE BECOME ! DOM9ANT ELEM5T 9 POLITICAL AFFAIRS & 9 ! RELATIONS BETWE5 NATIONS4 ,IT IS ! APPROVAL OR DISAPPROVAL ( F9ANCI]S ?AT MAKES & UNMAKES ,M9I/RIES EV]Y:]E 9 ,EUROPE4 ,TRUE1 ?AT 9 ,5GL& !RE IS ALSO ! APPROVAL ( ! ,/ATE ,*UR* & ( ! BREW]S TO BE FAC$2 BUT ! ,*UR* & ! BREW]S >E ALWAYS 9 AGREEM5T ) ! GREAT F9ANCI]S1 :O TAKE C>E NEV] TO 9T]F]E ) !IR P>TIZANS' 9COME4 ,AFT] ALL1 AS A ,M9I/] IS BUT A MAN :O HOLDS FA/ TO HIS (FICE1 TO HIS P[]1 & TO ! POSSIBILITIES ( 5RI*M5T :I* HIS PO/ (F]S TO HIM & TO HIS SUPPORT]S1 IT NECESS>ILY FOLL[S ?AT ! QUE/ION ( 9T]NATIONAL RELATIONS IS N[ADAYS F9ALLY R$UC$ TO KN[+ :E!R ! FAVOR$ MONOPOLI/S ( A P>TICUL> ,/ATE WILL TAKE SU* OR SU* AN ATTITUDE T[>DS ! FAVORITES ( ! SAME CALIB] 9 ANO!R ,/ATE4  

 ,?US1 ! /ATE ( ECONOMICAL =CES BR\<T 9TO ACTION IS DET]M9$ BY ! TE*NICAL DEVELOPM5T ( DIV]SE NATIONS AT A C]TA9 TIME 9 !IR HI/ORY2 BUT ! USE ?AT WILL BE MADE ( !SE =CES DEP5DS 5TIRELY ON ! DEGREE ( S]VITUDE T[>DS !IR ,GOV]NM5T TO :I* POPULATIONS HAVE ALL[$ !MSELVES TO BE R$UC$4 ,! ECONOMICAL =CES :I* C\LD PRODUCE H>MONY & WELL-BE+1 & GIVE A FRE% IMPULSE TO LIB]T>IAN CIVILIZATION IF !Y HAD FREE PLAY 9 SOCIETY1 -- !SE =CES1 BE+ DIRECT$ BY ! ,/ATE1 ?AT IS TO SAY1 BY AN ORGANIZATION SPECIALLY DEVELOP$ TO 5RI* ! RI* & TO ABSORB ALL MOD]N PROGRESS 9 ORD] TO B5EFIT PRIVILEG$ CLASSES -- !SE SAME =CES BECOME AN 9/RUM5T ( OPPRESSION1 ( MONOPOLI/S1 & 5DLESS W>S4 ,!Y ACCEL]ATE ! 5RI*M5T ( ! FAVOR$1 & !Y AUGM5T ! MIS]Y & ! 5?RALLM5T ( ! POOR4  

 ,?IS IS :Y ?OSE ECONOMI/S :O CONT9UE TO CONSID] ECONOMIC =CES ALONE1 )\T ANALYZ+ ! LIMITS )9 :I* !IR ACTION IS CIRCUMSCRIB$ N[ADAYS -- )\T TAK+ 9TO ACC\NT ! IDEOLOGY ( ! ,/ATE1 OR ! =CES ?AT EA* ,/ATE NECESS>ILY PLACES AT ! S]VICE ( ! RI*1 9 ORD] TO FAVOR !IR 5RI*M5T AT ! EXP5SE ( ! POOR -- ?IS IS :Y SU* ECONOMI/S REMA9 COMPLETELY \TSIDE ! REALITIES ( ! ECONOMIC & SOCIAL WORLD4  

#a "9 ,TRANSLAT$ FROM 0,LA ,SCI5CE ,MOD]NE ET L',AN>*IE10 PUBLI%$ BY ,P4-,V4 ,/OCK1 ,P>IS 7,FEBRU>Y1 #a#i#a#c74 

#b "9 ,AT ! TIME ( ! ,EGYPTIAN 0W>10 9 #a#h#h#b1 ,H4,M4 ,HYNDMAN PUBLI%$ 9 ! ,N9ETE5? ,C5TURY AN EXCELL5T >TICLE TELL+ 9 FULL ( ?IS PIECE ( ROBB]Y4 

#c "9 ,!SE L9ES W]E WRITT5 & PUBLI%$ 9 ! ,TEMPS ,N\VEAUX 9 ! ,SUMM] ( #a#i#a#b4 ,! /RIK+ REVELATIONS ( ,LIEBKNE*T1 CONC]N+ ! WAYS 9 :I* RUMORS ( COM+ W>S >E SPREAD 9 ! ,PRESS BY ! [N]S ( >MAM5T FACTORIES1 & NATIONAL HATR$ FO/]$ 9 ORD] TO 9CREASE ! ORD]S = W> MAT]IAL1 HAVE COME S9CE TO ILLU/RATE ON A GR& SCALE ?IS DOM9ANT FEATURE ( ! PRES5T-DAY 9DU/RY4 

#d "9 ,A FEW FIGURES WILL MAKE !SE ECONOMIC %OCKS ! MORE APP>5T4 ,BETWE5 #ai & #aid ! EXPORTS ( ,BRITI% PRODUCE FROM ! ,UNIT$ ,K+DOM W]E NORMAL & FLUCTUAT$ R\ND AB\T ,G,B,P#c114 ,9 #aid !RE WAS A RUMOR ( A GREAT W>2 ! ,UNIT$ ,/ATES QUICK5$ H] PRODUCTION1 & ,5GLI% EXPORTS ROSE 9 ?REE YE>S FROM ,G,B,P#c11 TO ,G,B,P#d#b#f114 ,BUT ! W>1 SO LONG$ =1 WAS NOT =?COM+1 & !RE WAS A SUDD5 DECL9E ( ORD]S2 ! CRISIS WE M5TION$ BROKE \T 9 ! ,UNIT$ ,/ATES1 & EXPORTS ( ,5GLI% PRODUCE FELL TO ,G,B,P#c#b#g114 ,9 #a#i#a1 H[EV]1 ! ANTICIPATION ( A GREAT ,EUROPEAN W> WAS AB\T TO BE REALIZ$1 & 9 #aia & #aiaa ,5GLI% EXPORTS ROSE TO AN ABSOLUTELY UN=ESE5 HEI<T :I* !Y HAD NEV] APPROA*$ BE=E4 ,YET NOBODY C\LD EXPLA9 ! FACT4 ,9 #aiaa ! EXPORTS REA*$ ,G,B,P#d#e#d111 & OV] ,G,B,P#d#h#g11 9 #a#i#a#b4 ,COAL1 /EEL1 LEAD1 FA/ VESSELS1 CRUIS]S1 C>TRIDGES1 CLO?1 L951 FOOT-GE>1 LEA!R1 PRES]V$ FOODS1 -- EV]Y?+ WAS 9 DEM& & WAS EXPORT$ 9 HUGE QUANTITIES4 ,=TUNES W]E HEAP$ UP VISIBLY4 ,M5 W]E AB\T TO MASSACRE ONE ANO!R2 :AT GOOD LUCK6 

7,S\RCE3 ,FRE$OM ,PAMPHLET1 ,FRE$OM ,PRESS1 ,LONDON1 #a#i#a#d47 

,FROM 3 ,AN>*Y ,>*IVES4 

,*RONOLOGY 3 
,NOVEMB] #c1 #aiac 3 ,W>S & ,CAPITALISM -- ,PUBLICATION4 
,JANU>Y #b#b1 #bag 3 ,W>S & ,CAPITALISM -- ,ADD$4 
,MAY #a1 #bba 3 ,W>S & ,CAPITALISM -- ,UPDAT$4 

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