what the terms of peace will be. Yet out of these contingencies will
emerge the strong hands that will redraw the trade map of the world.
Whatever the outcome, the countries now fighting, especially the Allies,
have definitely stated the principles that must govern--for a long time,
at least--the whole realignment of commercial relations. Their way shall
be the universal way.

In the second place, be you Ally or Teuton and regardless of how you may
feel about the ethics of the Great Struggle, it must be remembered that
behind the glamour as to whether it is waged to conserve human liberty,
maintain the integrity of "scraps of paper" or to safeguard democracy,
the larger fact remains that it is a war rooted in commercial jealousies
and fanned by commercial aggressions.

Now we come to the really vital point, and it is this: When the guns are
hushed you will find that national and industrial defence among the
warring countries will be one and the same thing. The Allies learned to
their cost that the economic advance of Germany was merely part of her
one-time resistless military machine. Her trade and her preparedness
went conqueringly hand in hand. Henceforth that game will be played by
all. England, for instance, will manufacture dyestuffs not only for her
textile trades, but because coal-tar products are essential to the
making of high explosives.

Thus, Competition, which was once merely part of the natural progress of
a country, will hereafter be a large part of the struggle for national
existence.

There is still another factor: No matter who wins, peace must mean
prosperity for everybody. For the victor it will take the form of an