"American entry into World War I in April 1917 prevented negotiated peace between the warring powers, and drove the Allies forward into a peace of unconditional surrender and dismemberment, a peace which, as we have seen, set the stage for World War II.

American entry thus cost countless lives on both sides, chaos and disruption throughout central and eastern Europe at war's end, and the consequent rise of Bolshevism, fascism, and Nazism to power in Europe.

In this way, Woodrow Wilson's decision to enter the war may have been the single most fateful action of the 20th century, causing untold and unending misery and destruction.

But Morgan profits were expanded and assured."