PROFESSOR TAUSSING SPEAKS

"Gettysburg would have been but a skirmish in the Great War," said Professor F. W. Taussig '79, of the Department of Economics, in a discussion last night at the Students' Liberal Club on the subject of "Economic Aspects of Disarmament". The quotation illustrated one of Professor Taussig's chief points. He explained that the past recovery from wars has been astonishingly rapid, because of the cycle of economic replacement which takes place normally every few years in any event.

Professor Taussing went on to say that since the modern faculty of organization has brought about the mobilization of the ultimate resources of a nation for a war, recovery after a war is very slow, even if a collapse does not occur. Among other things Professor Taussing pointed out the mistaken belief that territorial gains or trading rights are able to compensate for the expense of a war. "No possible gains of this kind," he said, "can amount to five per cent of the cost to a nation of a war as it is waged now."