ion--a
matter of history of which the nation is proud.

From its funds the country loaned Russia $100,000,000, which was the
first loan made by the United States to that Government. A credit of
$45,000,000 to Belgium was also established by the Secretary of the
Treasury. This also was Belgium's first participation in the loan of the
Allies.

COUNTRY'S NATURAL RESOURCES.

Aside from the financial resources of the United States, the country is
undoubtedly the richest in agricultural, mineral and other natural
resources. It annually produces more than 3,500,000,000 bushels of corn,
wheat touching the high point of 1,500,000,000 bushels; 1,600,000,000
bushels of oats; 250,000,000 bushels of barley; 40,000,000 bushels of
rye; 22,000,000 bushels of buckwheat; 425,000,000 bushels of potatoes;
77,000,000 tons of hay; 30,000,000 bushels of flaxseed; 7,000,000,000
pounds of cotton; more than 1,000,000,000 pounds of tobacco; 2,000,000
long tons of sugar and 275,000,000 pounds of wool.

There are nearly 70,000,000 swine, and as many cattle, more than
25,000,000 head of horses and mules, and 62,000,000 sheep. Coal is mined
at the rate of more than 500,000,000 tons yearly, and the copper mines
yield 1,250,000,000 pounds of metal. Petroleum wells yield 225,500,000
barrels yearly. There are 270,000 manufacturing plants with a yearly
output of more than $25,000,000,000. The products of the farm total more
than $11,000,000,000 annually.

As to Germany's position, economists all over the world have considered
her position as not only lacking soundness, but as crazy--crazy in that
no attention whatever has apparently been paid to what are recognized
as firmly fixed economic laws. The world has been at a loss to
understand Germany's attitude, and it can only be explained by assuming
that Germany was perfectly well aware of the entire unsoundness of her
commercial and financial position, and was willing, or, in fact, had to
risk everything with the hope of acquiring sufficient indemnity,
resulting from the war, to bring her financial affairs to a sound basis.
Germany's entire structure from the close of the Franco-Prussian war
evidently was built upon rotten foundations.

CHAPTER XVIII.

THE WORLD RULERS AT WAR.

WOODROW WILSON, THE CHAMPION OF DEMOCRACY--THE EGOTISTICAL KAISER--THE
GERMAN CROWN PRINCE--BRITAIN'S MONARCH--CONSTANTINE WHO QUIT RATHER THAN
FIGHT GERMANY--PRESIDENT POINCAIRE--AND OTHER NATIONAL HEADS.

No