This is not the only basis of comparison, of course. Everyone who knows Europe at all is aware of the high standard of comfort in all the small countries—Scandinavia, Holland, Belgium, Switzerland. Mulhall, in "Industries and Wealth of Nations" (p. 391), puts the small States of Europe with France and England at the top of the list, Germany sixth, and Russia, territorially and militarily the greatest of all, at the very end. Dr. Bertillon, the French statistician, has made an elaborate calculation of the relative wealth of the individuals of each country. The middle-aged German possesses (on the established average) nine thousand francs ($1800); the Hollander sixteen thousand ($3200). (See Journal, Paris, August 1, 1910).

The figures given in the "Statesman's Year-Book" show that, proportionately to population, Norway has nearly three times the carrying trade of England.

See citation, pp. 14-15.

Major Stewart Murray, "Future Peace of the Anglo-Saxons." London: Watts and Co.

L'Information, August 22, 1909.

Very many times greater, because the bullion reserve in the Bank of England is relatively small.