ROOSEVELT’S policy toward Germany found its main expression in two decisions. One was negative, the other ferociously destructionist. The -first was the “unconditional surrender” slogan, proclaimed at Casablanca in January 1943. The second was the Morgenthau Plan, sanctioned at Quebec in September 1944.

IN THE fifth year after the end of the war there still was no peace with the two principal belligerents, Germany and Japan. The Congress of Vienna made, by and large, a good peace, with amazingly little in the way of vengeful reprisals against France for Napoleon’s wars of aggression. With all its faults, it was a settlement that saved Europe for a century from the catastrophe of another war involving all the great powers. The Congress of Versailles made a bad peace, but it at least created some kind of settlement.

AMERICA’S Second Crusade belongs to history. Was it a success? Over two hundred thousand Americans perished in combat and almost six hundred thousand were wounded. There was the usual crop of postwar crimes attributable to shock and maladjustment after combat experience. There was an enormous depletion of American natural resources in timber, oil, iron ore, and other metals. The nation emerged from the war with a staggering and probably unredeemable debt in the neighborhood of one quarter of a trillion dollars.

Agar, Herbert. A Time for Greatness. Boston, Little, Brown, 1942.

Alsop, Joseph and Robert Kintner. American White Paper. New York, Simon & Schuster, 1940.

Bailey, Thomas A. Woodrow Wilson and The Great Betrayal. New York, Macmillan, 1945.

—The Man in the Street. New York, Macmillan, 1948.

Beard, Charles A. American Foreign Policy in the Making, 1932-1940. New Haven, Yale University Press, 1946.

—President Roosevelt and the Coming of the War, 1941. New Haven, Yale University Press, 1948.

Abwehr (German Counterintelligence) , 294

Alexander, Marshal Sir Harold, 229, 230

Alfieri, Dino, Italian Ambassador to Germany, 105

Allied blockade during World War I, 5-8; effect of German submarine on, 6

Allied Control Council for Germany, 212

Allied Council in Paris, 261

Allied war crimes, 322 ff.

Alter, Viktor, 266 Amerasia, 255, 256

America First Bulletin, 115

America First Committee, 115-19, 145, 146; statement of principles, 115

American-British cross-channel invasion, 198

The Case for
Legalizing Capitalism

Kel Kelly

© 2010 by the Ludwig von Mises Institute and published
under the Creative Commons Attribution License 3.0.

http://creativecommons.org/licenses/by/3.0/

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ISBN: 978-1-933550-62-6

The book is dedicated to the
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I FIRST BEGAN to learn about economics in college and from reading and studying the topic subsequently on my own. As my studies progressed, I thought I was on the path to learning how the world worked.