Moreover, the whole German structure suggests very strongly that maximum war potential would ye developed at once. There is no reserve strength, financial or industrial or labour or, indeed, moral Germany is already working at virtually war capacity, and the resources for intensifying this war effort simply do not exist. The war potential of Britain and France, on the other hand, would steadily increase. We work with a great deal of slack in our system—unemployment, a high standard of life, economic privilege of various kinds—and that slack could only be taken up in wartime, In another war we should reach our maximum effort much earlier than we did in 1914-18 But we should reach it a long time after Germany d reached hers. Again, as America's resources were gradually mobilised, and as Russia's material and man-power began to be exerted, Germany's relative disadvantage would assuredly increase, The disabilities which Germany would suffer would be far greater than they were in 1914-18—especially in raw materi~ als and in the lack of margin to reduce civil consumption,
Text read from the printed page and cleaned; old type leaves the occasional error.