We very much doubt, however, whether hungry people will be
impressed by this logic and discover a new appetite for fighting.. The result, -4e should think, would be to increase the general depression. Dr. Michaelis may have exaggerated the ills of the future for the sake of his amument, but though it would have been natural for him to do so, the prospect for Germany seems to us to be exactly what he predicts. Has a huge industrial nation ever reconstituted its fortunes on a basis of destroyed credit, both financial and moral ? It will be a miracle if Germany can do it. Again, the Nemesis of submarine warfare seems to be over- taking her. In running amok at sea she is sinking the very ships which might bring food to her starving people after the war. The mills of God grind slowly, but they do grind.
