After a cruel and obstinately intolerant struggle that had occasioned indescribable suffering from disease and starvation, as well as the usual slaughter and destruction incident to war, the country began to enjoy once more a measure of peace.

Financial exhaustion, however, had to be overcome before recuperation was possible.

Industrial progress had become almost paralyzed; vast quantities of depreciated paper money had to be withdrawn from circulation; and an enormous array of claims for the loss of foreign life and property had rolled up..