guilty of injustice,
whether that injustice is exerted against a State or even only against a
single obscure individual. The modern developments of telegraphy and the
Press--unfavourable as the Press is in many respects to the cause of
international harmony--have placed in the hands of peace this new weapon
against war.

(2) _International Financial Development._ There is another
international force which expresses itself in the same sense. The voice
of abstract justice raised against war is fortified by the voice of
concrete self-interest. The interests of the propertied classes, and
therefore of the masses dependent upon them, are to-day so widely
distributed throughout the world that whenever any country is plunged
into a disastrous war there arises in every other country, especially in
rich and prosperous lands with most at stake, a voice of self-interest
in harmony with the voice of justice. It is sometimes said that wars are
in the interest of capital, and of capital alone, and that they are
engineered by capitalists masquerading under imposing humanitarian
disguises. That is doubtless true to the extent that every war cannot
fail to benefit some section of the capitalistic world, which will
therefore favour it, but it is true to that extent only. The old notion
that war and the acquisition of territories encouraged trade by opening
up new markets has proved fallacious. The extension of trade is a matter
of tariffs rather than of war, and in any case the trade of a country
with its own acquisitions by conquest is a comparatively insignificant
portion of its total trade. But even if the financial advantages of war
were much greater than they are, they would be more than compensated by
the disadvantages which nowadays attend war. International financial
relationships have come to constitute a network of interests so vast, so
complicated, so sensitive, that the whole thrills responsively to any
disturbing touch, and no one can say beforehand what widespread damage
may not be done by shock even at a single point. When a country is at
war its commerce is at once disorganized, that is to say that its
shipping, and the shipping of all the countries that carry its freights,
is thrown out of gear to a degree that often cannot fail to be
internationally disastrous. Foreign countries cannot send in the imports
that lie on their wharves for the belligerent country, nor can they get
out of it the exports they need for their ow