The sacrifices of our people were very great. Out of a population of one million, 28,000 were killed, 12,600 wounded, 10,000 were made political prisoners in Italy and Germany, and 35,000 made to do forced labour, of ground; all the communications, all the ports, mines and electric power installations were destroyed, our agriculture and livestock were plundered, and our entire national economy was wrecked.
Charles P. Kindleberger
What matters to us is the revelation of the swindle, fraud, or defalcation. This makes known to the world that things have not been as they should have been, that it is time to stop and see how they truly are. The making known of malfeasance, whether by the arrest or surrender of the miscreant, or by one of those other forms of confession, flight or suicide, is important as a signal that the euphoria has been overdone. The stage of overtrading may well come to an end. The curtain rises on revulsion, and perhaps discredit.
