The experts seemed to have forgotten that among the first casualties of war is not only truth but also sound finance. None of the big wars of the previous century—for example, the Napoleonic Wars or the American Civil War—had been held back by a mere lack of gold. These had been fights to the death in which the belligerents had been willing to resort to everything and anything—taxes, borrowing, the printing of ever larger quantities of money—to raise the cash to pay for the war.
