The figures are almost too overwhelming to carry conviction to our minds; if they were not quite so bad, our effective belief in them might be stronger.
But even when coal can be got and grain harvested, the breakdown of the European railway system prevents their carriage; and even when goods can be manufactured, the breakdown of the European currency system prevents their sale.

I have already described the losses, by war and under the Armistice surrenders, to the transport system of Germany.

But even so, Germany's position, taking account of her power of replacement by manufacture, is probably not so serious as that of some of her neighbors.

In Russia (about which, however, we have very little exact or accurate information) the condition of the rolling-stock is believed to be altogether desperate, and one of the most fundamental factors in her existing economic disorder.

And in Poland, Roumania, and Hungary the position is not much better.