the contractors, purveyors, horse-breeders, tailors, advertisers, army-coaches, landowners, and well-to-do families whose wealth, livelihood, or position depends mainly upon the continuance of warlike preparations, and whose personal interests are enormously increased by actual war.  When a nation is pouring out its wealth at the rate of L2,000,000 or even L10,000,000 a week, as in the future it may well do, much of it will run away to waste, but most of it will stick to one finger or another; and the dirtier the finger the more will stick.  It seems silly, it seems almost incredible, that, only a few generations ago, the peoples of Europe were engaged in killing each other as fast as possible over a question of dynasty—­whether this or that poor forked radish of a mortal should be called King of Spain or King of France.  But in our own days men kill each other for dynasties of cash—­for wealthy firms and intermarried families.  Nations fight that private companies may show a higher percentage on dividends.  It is silly; it is almost incredible.  But to shareholders and speculators instigated by these motives Norman Angell’s appeal is futile.  Even a victorious war may spell disaster to the nation; but even defeat spells cash for them.

Holland was in February 1911 compelled to buy twenty-four inferior big guns from Krupp, without contract or competition, for the defence of her Javanese possessions, which no one thinks of attacking.  Do you suppose that Krupp’s Company regards war as disadvantageous, or circulates Norman Angell’s book for a new gospel?  “What plunder!” cried Bluecher, looking over London from St. Paul’s.  Nowadays he would not wait to plunder a foreign nation; he would invest in a Dreadnought company, and plunder his own.  Our naval expenditure in 1911-12 amounted to L46,000,000; our army expenditure to nearly L28,000,000—­a total of L73,650,000 for what is called defence!  Ten years ago we were in the midst of a most expensive war.  Nevertheless, in ten years the annual expenditure upon armaments has increased by L14,000,000—­far more than enough to double our Old Age Pensions.  Within thirty years the naval estimates have more than quadrupled.  Are we to suppose that no one grows fat on the people’s money? Quidquid delirant reges.  The kings of the earth stood up and violently raged together; their subjects died.  But now the kings of the earth are raging financiers with a shrewd eye to business, and their subjects starve to pay them.  We used to be told that the man who paid the piper called the tune.  Do the people call the tune of peace or war?  Not at all.  The ruling classes both call the tune and pocket the pay.