We now come to the question of losses up to date; and here we must proceed with caution, for it is above all important to be on the safe side. The present German losses are computed by the best authorities at about two million, from all causes, up to 3 P.M. on the 13th ult. From this we must deduct, however, all those who, after being wounded, have returned to the firing-line--say, half a million. Also all those who, having been wounded a second time, have returned to the front,--say, three hundred thousand. Also all those who have been three times wounded and have still gone back to fight--say, fifty thousand.
Then again we must remember those who have been invalided home and recovered, and those who have been missing and are found again. And there are the men who have been erroneously reported as prisoners, owing to the Germans' incorrigible habit of exaggerating the number of their own troops who have fallen into the enemy's hands.
After all these deductions we may safely put the revised German losses at 750,000. This should be taken off the twelve million eligible; but it would, I think, be wise (in order to keep always on the safe side) to add it on. This gives us 12,750,000. Very well.
But the industries of the country must be carried on. There are the railways, agriculture, mining. Let us say five million for these. There are those great industries without which a nation cannot wage war; for instance, the makers of Iron Crosses (100,000), the custodians of ships retained in harbour (50,000), the printers of picture-postcards (50,000), the writers of Hate-hymns, besides sundry makers of armaments and things.
Counting all those in and keeping on the safe side and dealing only with round figures for popular purposes we may conclude that anything from one to nine million must be deducted from our last figure to arrive at a final estimate.
To sum up, Germany's war strength cannot be more than three million or less than eleven. This gives us a clear idea of what we have to face.
I enclose my card in case you should think me an amateur, and have the honour to remain,
_Men we do not introduce to the Duke of WESTMINSTER_ I.--The German Minister of Finance: Dr. HELFFERICH.