The whole world is going to be hard up in consequence of the bankruptcy of these nations, the inestimable destruction of property, and the loss of productive men.

I fancy that such a change will come in the economic and financial readjustment of the world as nobody can yet guess at .-- Are Americans studying these things?
It is not only South-American trade; it is all sorts of manufacturers; it is financial influence--if we can quit spending and wasting, and husband our earnings.

There's no telling the enormous advantages we shall gain if we are wise.
The extent to which the German people have permitted themselves to be fooled is beyond belief.

As a little instance of it, I enclose a copy of a letter that Lord Bryce gave me, written by an English woman who did good social work in her early life--a woman of sense--and who married a German merchant and has spent her married life in Germany.

She is a wholly sincere person.