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 countries, be thrown upon a crowded labour-market. From the abstract economical point of view it is only a question of transfer. Fifty millions which were spent on military industries will now be used in enlarging other industries or creating new. In reality there will be grave confusion; but that is due to the utterly disorganised nature of our industrial world, which I discuss later. In any case to allege this industrial difficulty as a serious reason against disarmament is a very singular piece of folly. The cost and trouble of adjusting this temporary dislocation would be infinitely less than the cost and trouble of a war.

We need, therefore, to persuade the public, which has borne its military yoke and endured the occasional lash of war with the placidity of a draught-ox—that is, candidly, how we shall appear in the social history of the future—that it may escape the yoke and the lash when it wills. Our Churches might make some atonement for a long and lamentable neglect of their duty by organising a really spirited collective campaign in this greatest of moral interests. The central educative body should, however, be quite unsectarian. I take it that an amalgamation of the various Peace Societies, strengthened by the adhesion of our commercial and industrial leaders, would form this central educative body. The present war would furnish it with a superb text and an unanswerable argument. It ought, in the circumstances, to capture each country in Europe more speedily than Cobden’s