for war in Europe during the time it took to build the canal
exceeded the cost of this gigantic undertaking nearly sixty to
one.

The money thus expended on preparation for war during the
thirteen years named would, if spent in railroad and marine
construction, have given vast commercial power to these nations.
To what extent have they been benefited by the rivalry to gain
precedence in military power? They stand on practically the same
basis now that it is all at an end. Would they not be on the same
basis if it had never begun? Aside from this is the incentive to
employ these vast armaments in the purpose for which they were
designed, the effect of creating a military spirit and developing
a military caste in each by the nations, a result very likely to
be productive of ill effects.

The total expense of maintenance of armies and navies, together
with the cost of construction in thirteen years, in Germany,
Austria, Russia, France and Great Britain, was as follows:

Naval expenditures $5,648,525,000
Construction 2,146,765,000
Cost of armies 13,138,403,000
Total $20,933,693,000

The wealth of the same nations in round figures is:

Great Britain $80,000,000,000
Germany 60,500,000,000
Austria 25,000,000,000